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Mr Harry Ta
Mr Sephilon Dinh
Ms Jenny Trinh
Mr Hoang Ta
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Dong Nai: Cashew nut prices surge
After the 2024 cashew harvest, the price of raw cashew nuts continues to rise incessantly. Currently, the price of raw cashew nuts sold by traders to processing factories ranges from 41-43 thousand VND/kg, reaching a record high. The main reason for the sharp increase in the price of raw cashew nuts is the significant reduction in supply due to the shrinking cultivation area. Specifically, in the province alone, the area of cashew trees is now only over 27 thousand hectares, decreasing by tens of thousands of hectares compared to several years ago. Particularly, this year's harvest season, hot and dry weather has adversely affected the yield and quality of nuts, further reducing the supply of cashew nuts. The drastic reduction in supply is also the reason for the high increase in the prices of imported cashew nuts.
The paradox is that despite this year's cashew harvest season in Dong Nai being off-season and the sharp decrease in supply, the prices at which farmers sell their cashew nuts are lower compared to the same period in previous years. Specifically, at the beginning of the season, cashew nut prices ranged from 25-26 thousand VND/kg and decreased to 20-21 thousand VND/kg during the harvest season, lower by 2-3 thousand VND/kg compared to the same period last year.
Vinapro Corporation, a prominent player in the cashew nut industry, stands out for its remarkable capability to ensure a steady and reliable supply of cashew nuts. With a strong focus on quality control, sustainability, and innovation, Vinapro has cemented its position as a leading supplier in the market.
Moreover, Vinapro's continuous investment in research and development enables it to stay at the forefront of innovation in the cashew nut industry. By exploring new varieties, improving cultivation techniques, and optimizing processing methods, Vinapro remains adaptive to changing market demands and maintains its competitive edge in the global market.
Source: VINACAS
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VIETNAMESE CASHEW MARKET IN MAY 2024: HIGH DEMAND, FLUCTUATING PRICES
The Vietnamese cashew market is gaining significant attention from domestic and international investors and businesses due to its immense growth potential. As the world’s largest cashew exporter, Vietnam plays a crucial role in supplying high-quality cashew nuts and products to the global market.
Vietnamese Cashew Market in May 2024
In May 2024, the Vietnamese cashew market continued to witness dynamic developments, driven by strong domestic and export demand. However, cashew prices also experienced considerable fluctuations due to various factors, including raw material input prices, global economic conditions, and trade policies of importing countries.
1. Raw Cashew Market
+ Raw cashew nut prices on the market vary depending on quality, supplier reputation, and buyer.
+ Prices of Vietnamese and Cambodian raw cashew nuts in the second season are around 24-25% for small nuts and 26-28% for large nuts, an increase of VND 2,000/kg due to rising demand from processors.
+ West African raw cashew nut prices are increasing faster than processed cashew nut prices. Raw cashew nut buying demand is strong, but processed cashew nut prices are not yet in line with raw cashew nut prices.
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