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  • The whole world is excited about the product that Vietnam is a leading exporter

    Nov 2nd, 2016

    However, perhaps the price of cashews will also rise even more when the biggest exporter Vietnam had to go through the worst drought recently and supplies can be limited, thereby affecting the market $ 5.2 billion this field.The shortage of rainfall in the Mekong region and parts of Vietnam has made many export crops such as rice, pepper, coffee or affected fisheries.

    From the beginning of the year, yields were down 11% cashews also the domestic agricultural prices rose to record highs 1/3. Currently American consumers are the customers suffer the most from this situation when the US is consuming cashews world's No. 2.

    Chairman of Vietnam Cashew Association (Vinacas), said Nguyen Duc Thanh said the market was never like this year's happenings. According to Thanh, cashew prices will likely remain high until harvest season early next year.INC's figures show that despite accounting for crown peanuts still in the cashew sector but has quickly overcome some walnuts and other nuts on this $ 30 billion market. Cashew consumption worldwide has increased from 469 241 tons in 2010 to a record 716 682 tons in 2014.

    The rising demand from China and some European countries have made cashew exports increased by 70% globally in the last 10 years up to 503 713 tons in 2014.Although India is the largest cashew nut consumption in the world with nearly one third of total production but it is the 2nd largest exporter of this commodity world to consumers here should not be affected much. Meanwhile, the US imported nearly 1/4 cashew production in the world and certainly in the US agricultural prices will rise sharply.

    Cashews are often planted in areas with more rainfall and warm weather all year round, such as the Southeast region of Vietnam. However, the unusually hot dry spell of weather for almost 1 years has left nearly 2 million people here live in water shortages. The price of raw cashew nuts in Vietnam has increased from 38,000 VND / kg early this year to 52,000 VND / kg, a record high.

    Vietnam exported cashew nuts grown in West Africa ...

    However, many experts believe that Vietnam cashew will not influenced from weather when 2/3 of processed nuts are grown here from other countries. West Africa is currently growing countries to 46% of raw cashew nuts in the world and they are exported to countries such as Vietnam, India or Brazil for processing. So, even if yields decline, or that of domestic exports of Vietnam cashew industry will still grow this year.

    According to Thanh, Vietnam is likely to import up to 800,000 tons of raw cashew nuts this year, twice as high as the domestic harvest. 2014, Vietnam only account for 15% of cashew nuts are grown in the world, but 58% of cashew nuts exported globally.

     Vinacas Association predicts that Vietnam's exports this year will increase from 286,000 tons to 300,000 tons last year and 34% of exports going to the US market. In the first 10 months of 2016, cashews contributed US $ 2.33 billion in total exports of 144 billion dollars in Vietnam and Vinacas estimated this figure could reach a record 2.77 billion at the end of the year, higher than $ 2.4 billion by 2015.Despite increased imports of raw cashew nuts from Africa but strong demand in the world will make the price increase and stimulate cashew exports for Vietnam. Cashew export price of Vietnam has increased 22% to $ 7,809 / ton in March 8/2016.

    Bang Tam

    Source: Intellectuals children / CafeBiz