According to the Import-Export Department (Ministry of Industry and Trade), Vietnam's cashew exports in April reached approximately 51,400 tons, worth USD 305.5 million, an increase of more than 3% in volume and value compared to March; this is the highest price since October 2022.

Accumulated over the first four months of the year, Vietnam's cashew exports reached 162,400 tons, worth USD 952.5 million, an increase of 6% in volume and an increase of 4.5% in value over the same period in 2022.

In April, the export price of cashew nuts reached USD 5,944/ton, at the same level compared to March and April 2022, but this is the highest price since October 2022. The average export price of cashew in the first four months of this year is about USD 5,865/ton, decreased by 1.5% over the same period in 2022.

In the first four months of 2023, cashew nut exports to the US, Netherlands, Australia, Canada, Germany, etc. decreased, but exports to China, the United Arab Emirates, the UK, Saudi Arabia, and Japan increased.

Mr. Bach Khanh Nhut, Vice Chairman of the Vietnam Cashew Association (Vinacas) said that cashew exports have increased but not really exciting. Especially, the export price of cashew is still low, not corresponding to the high price of imported raw cashew, leading to most processing enterprises having to reduce their capacity.

“Many businesses had to suspend operations because they could not balance the selling price of cashew nuts with the buying price of raw cashews…

While other costs such as labor, fuel, packaging, and transportation increased, making the business more and more at a loss, "Mr. Nhut informed.

Currently, the cashew industry is facing a series of difficulties as the main consumption markets of Vietnam such as Europe and the US are increasingly tightening the issue of food safety and hygiene; China strictly regulates and strictly enforces regulations on importing agricultural products and food across the border.

Mr. Bach Khanh Nhut said that in 2023, the cashew industry will hardly achieve strong growth. It is expected that cashew export sales in 2023 will be modest at USD 3.1 billion, a slight increase of USD 30 million compared to 2022.

Kylie Nguyen