(HSV VIETNAM GROUP) – In 11 months, Vietnam spent more than 3 billion USD buying raw cashew nuts (raw materials), of which the most was imported from Ivory Coast, with a value of nearly 1 billion USD.
This is the latest statistics from the General Department of Customs. Accordingly, in 11 months, Vietnam imported nearly 2.7 million tons of cashew nuts, reaching a turnover of 3 billion USD, up 46.5% and 19.2% respectively over the same period last year.
The 5 largest markets supplying raw cashew nuts to Vietnam include: Ivory Coast, Cambodia, Nigeria, Ghana and Tanzania. Of which, cashew nuts imported from Ivory Coast and Cambodia account for 57.5% of the total value. The structure of the cashew import market this year has changed. Vietnam reduced imports from Cambodia and Tanzania but increased imports from Ivory Coast, Nigeria and Ghana.
Specifically, the amount of cashew imported from Ivory Coast amounted to 850,000 tons, with a value of 919.3 million USD, an increase of nearly 87% in volume and more than 56% in value compared to the same period last year.
In contrast, cashew imports from Cambodia decreased by nearly 14% in volume and more than 23% in value, down to 613,000 tons, with about 835 million USD. Despite the decrease, Cambodia is still the second largest raw cashew supply market for Vietnam.
This year, Vietnam increased imports of raw cashew nuts due to low domestic supply, only meeting about 30% of processing capacity. Currently, Vietnam's cashew growing area is only about 300,000 hectares. In addition, this year the price of imported cashew nuts decreased sharply, so businesses increased their purchases in large quantities.
Factory in Binh Phuoc of HSV Vietnam Group Joint Stock Company with large warehouse, full of strict conditions for exporting abroad
Vinacas representative said that the current amount of raw cashew nuts globally is enough for processing in the next 9 months. If the 2024 crop goes ahead normally, there will be no shortage of raw materials.
Raw cashew imports are growing rapidly, but according to Vinacas, cashew export prices are always low so the turnover value is not too sudden.
In the opposite direction, in 11 months, Vietnam's export of processed cashew nuts was estimated at 582,000 tons, worth 3.31 billion USD, up 23.1% in volume and up 17.4% in value compared to the same period last year.
Large-scale finished cashew processing factory of HSV Vietnam Group Joint Stock Company, we are proud to export Vietnamese agricultural products to countries in the region and to European and American markets...
It is estimated that the average export price of Vietnam's processed cashew nuts in 11 months reached 5,682 USD per ton, down 4.7% over the same period last year.
In terms of type structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for nearly 64% of the total volume and nearly 70% of the value of the country's export turnover. Therefore, the export growth of the above types of cashew nuts has had a positive impact on the entire industry. The US is Vietnam's largest export market for cashew nuts in the first 10 months of the year.
The finished cashew nut warehouse in Binh Phuoc of HSV Vietnam Group Joint Stock Company is ready in both quantity and quality for export orders to China. This is HSV's leap forward in 2024 with an impressive number of orders.
Ha Diem HSV