Cashew export price decreased by more than 300 USD/ton

(HQ Online) - Volume and turnover increased, but the average export value of cashew nuts decreased compared to the same period last year.

Giá xuất khẩu hạt điều giảm hơn 300 USD/tấn

Vietnam is the world's leading exporter of cashew nuts. Photo: Internet.

According to preliminary statistics from the General Department of Customs, in the first half of February (February 1-15), the country exported 11,836 tons of cashew nuts, with a turnover of 64.2 million USD.

In total, from the beginning of the year to February 15, the amount of cashew nuts exported reached 76,978 tons, with a turnover of 415.4 million USD. Compared to the same period in 2023, the amount of cashew nuts exported increased by 80.4% but the turnover increased by only 70.24%.

The growth rate of turnover is lower than that of volume, so the average export value of this item in the first month of the year is lower than the same period last year.

Specifically, the average value at the beginning of this year reached nearly 5,400 USD/ton, while in the same period in 2023 it reached nearly 5,720 USD/ton (a decrease of about 320 USD/ton).

Last year, cashew exports reached more than 644 thousand tons, with a turnover of 3.644 billion USD, up 24% in volume and 18% in turnover compared to 2022. This is considered the highest turnover ever of the cashew industry (about 7 million USD higher than the previous record in 2021).

The cashew export market is quite diverse, with major importers including the United States, China, the Netherlands, etc.

Specifically, the United States continues to be the largest export market with a turnover of 885.5 million USD, up 5% compared to 2022 and accounting for 24.3% of the country's cashew export turnover last year.

Export turnover to the Chinese market reached 683 million USD, an increase of 55.23% compared to 2022, accounting for 18.7% of our country's cashew export turnover. This is also the market with the most impressive growth among the group of 3 largest cashew export markets of Vietnam.

The Netherlands ranked third with a turnover of 353 million USD, an increase of 19% compared to 2022, accounting for 9.7% of the country's export turnover of this item.

However, the cashew industry is still heavily dependent on imported raw materials. In 2023, the country imported nearly 2.77 million tons of raw cashew nuts, with a turnover of nearly 3.2 billion USD, up 46.2% in volume and 19.6% in turnover compared to 2022.

Source