The Ministry of Agriculture and Rural Development said that cashew kernel prices are expected to tend to increase in the near future because the supply of cashew nuts in Vietnam is not much while the buying price of raw cashew is still high, not balanced with the price of cashew kernel, so the processors be very cautious about importing raw things.

The Ministry of Agriculture and Rural Development said that on the world market, the festival is an opportunity to promote world cashew consumption. Tokyo Olympics will open on 23/7 and close on 8/8.

Preparations are going on but everything is up to the decision of the Government of Japan and anything can happen at the last minute.

Summer in India is coming in some southern states. Cashew buyers are showing interest in long term supply contracts, especially for split cashews and large fragments.

On the domestic market, the raw material prices did not change after the Lunar New Year. Specifically, dry cashew bought in Binh Phuoc was kept at 33,000 VND / kg (1.44$/kg) ; In Dong Nai, raw cashew nuts bought in buckets were stable at VND 28,000 / kg (1.22$/kg).

Cashew kernel prices are expected to tend to increase in the near future because the supply of cashew nuts in Vietnam is not much while the price of raw cashew is still high, not balanced with the price of cashew nuts, so processors are very cautious in the raw thing entry.

Besides the trade agreements, cashew nut price forecast in 2021 is likely to recover as the price in 2020 has dropped to a low level.

According to the Ministry of Agriculture and Rural Development, the volume of cashew nuts exported in February 2021 is estimated at 30 thousand tons with a value of $ 174 million, bringing the volume of cashew exports in the first 2 months of 2021 to 75 thousand tons and 442 million USD, up 46, 1% in volume and 21.5% in value over the same period in 2020.

The average export price of cashew nuts in January 2021 reached US $ 5,904 / ton, down 15.6% over the same period in 2020.

The US, China and the Netherlands remained the three largest cashew import markets of Vietnam, accounting for 24.4%, 19.2% and 10.3% of the total cashew export value, respectively.

In January 2021, cashew export value increased in most markets except: UK (-44.9%), Thailand (-12.1%) and France (-4.3%).

The volume of imported cashew nuts in February was estimated at 70 thousand tons with the import value estimated at 90 million USD, bringing the total volume and value of imported cashew nuts in the first 2 months of 2021 to 194 thousand tons and 270 million USD, increase 82.8% in volume and 53.5% in value over the same period in 2020.

Tanzania, Côte d'Ivoire and Indonesia are the three main cashew import markets for Vietnam in January.

The value of cashew nuts imported from two markets, Tanzania, Ivory Coast in January increased compared to the same period of 2020, with an increase of 143.6% and 168% respectively, while cashew imports from Indonesia decreased by 43. ,2%.

 
Your Faithful.
Vinapro Team