(HSV VIETNAM GROUP) - In the first 11 months of 2023, cashew exports reached 3.31 billion USD, higher than the figure of 3.05 billion USD that the industry had adjusted to reduce export turnover for the whole year before.
The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs as saying that Vietnam's cashew nut exports in November 2023 are estimated to reach 65 thousand tons, worth 358 million USD, up 1.1% in volume and up 0.03% in value compared to October 2023; Compared to November 2022, an increase of 34.5% in volume and an increase of 30.7% in value.
In the first 11 months of 2023, our country's cashew export is estimated to reach 582 thousand tons, worth 3.31 billion USD, up 23.1% in volume and 17.4% in value compared to the same period last year.
It is estimated that Vietnam's average cashew export price in November 2023 will reach 5,512 USD/ton, down 12.6% compared to October 2023 and down 2.8% compared to November 2022. Accumulated in the first 11 months of 2023, Vietnam's average cashew export price reached 5,682 USD/ton, down 4.7% over the same period last year.
Regarding the type structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for 63.51% of the total volume and 69.84% of the country's total export turnover. Therefore, the export growth of the above types of cashew nuts has had a positive impact on the entire industry.
Regarding the market, the United States is the largest export market for Vietnam's cashew nuts in the first 10 months of the year. However, China is emerging as an active buyer.
Specifically, in October 2023, cashew exports to China reached 14,854 tons worth more than 88.7 million USD, up 69.4% in volume and 77% in turnover compared to the same period last year. This output is the highest since the beginning of the year and makes China surpass the US, becoming the largest importer of Vietnamese cashew nuts in October.
Overall, in the first 10 months of the year, China spent more than 522.3 million USD to import 85,307 tons of cashew nuts, up 43.1% in volume and 47.2% in value over the same period last year. China accounts for 16.5% of output and 17.7% of turnover in the structure of Vietnam's cashew import markets in the first 10 months of 2023. The average export price to this market reached 6,123 USD/ton, up 2.8% over the same period.
According to industry experts, with current technological developments, Vietnamese cashew nuts are competing with other countries, especially countries with strengths in raw cashew materials such as Ivory Coast. Therefore, the cashew industry needs to focus on processing quality and diversity of processed products to increase competitive advantage.
Ha Diem HSV