(HSV VIETNAM GROUP) –According to preliminary statistics from the General Department of Customs, in July 2022, Vietnam's cashew exports reached 54,675 tons, worth more than 304.3 million USD, down 7.5% in volume and down 10.2% in turnover compared to June 2023. Overall, in the first 7 months of the year, cashew exports reached 334,870 tons, bringing in more than 1.94 billion USD, up 13.3% in volume and 9.7% in value compared to the same period in 2022. The average export price in the first 7 months of the year reached 5,805 USD/ton, down 3% over the same period last year.
In terms of market, the US is the largest import market of Vietnamese cashew nuts. Specifically, cashew exports to the US in July reached 14,385 tons with a turnover of more than 79.5 million USD, down 12.2% in volume and 15% in value compared to June 2023. Overall, in the first 7 months of the year, cashew exports to the US reached 88,903 tons with a value of more than 512 million USD, up 0.7% in volume and up 0.32% in value compared to the same period in 2022.
Thus, the US accounted for 26.4% of Vietnam's total cashew export turnover in the first 7 months of the year.
Regarding the trade situation between the two countries, in the first 7 months of the year, exports to the US reached a turnover of more than 53.096 billion USD, down 20.82% over the same period last year. Leading the export turnover is the group of machinery, equipment, tools and spare parts reaching 9.2 billion USD, down 18.5% over the same period in 2022 and accounting for 17.5% of the export proportion.
According to statistics from the General Department of Customs, in 2022, Vietnam exported 519,782 tons of cashew nuts with a value of 3.08 billion USD. Compared to 2021, cashew exports decreased by 10.3% in volume and 15.1% in value. With this result, the cashew industry did not complete the export turnover target of 3.2 billion USD and ended the previous 10-year cashew growth period (from 2011-2021). Also in 2022, the total cashew area in the country remains stable at 305,000 hectares. The average yield is 1.25 tons/ha, the output of raw cashew nuts (dried nuts) is estimated at 370,000 tons.
Currently, Vietnamese cashew nuts are present in 90 countries and territories around the world. Export turnover increased steadily over the years. Since 2006, with a turnover of 520 million USD, Vietnam is officially the number 1 cashew exporting country in the world.
In 2023, the Vietnam Cashew Association (Vinacas) sets a target of cashew export reaching 3.1 billion USD, a slight increase of 30 million USD compared to 2022. It is forecast that in 2023 Vietnam's cashew industry will continue to face difficulties due to slow demand and difficult price increases. Not only in Vietnam, cashew production and export activities globally are also facing many difficulties and major challenges from the economic situation, exchange rate fluctuations, falling consumption and escalating processing costs.
Ha Diem HSV