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Vietnam’s exports and imports of cashew nuts in first ten months of 2019 

 Wednesday, December 11,2019

AsemconnectVietnam - Vietnam’s exports of cashew nuts in the first ten months of this year increased in volume but decreased in value over the same period last year, showed the figure of the General Department of Customs.

The country’s imports of cashew nuts also increased in volume but decreased in value year – on – year in the first ten months of this year.

Vietnam’s exports of cashew nuts in first ten months of 2019
According to the General Department of Customs, in the first 10 months of 2019, cashew exports reached 372,290 tons, worth of 2.7 billion USD, up by 22.3 per cent in volume, but down by 4 per cent in value compared to the first 10 months of 2018.
In October of 2019 alone, cashew exports increased both in volume and value, up by 3.5 per cent and 4.2 per cent respectively to 44,000 tons, worth of 304.67 million USD.
Although ranked 3rd in terms of raw cashew output, Vietnam is leading the world in exporting cashew nuts for 10 consecutive years.

Leading cashew export markets in the first ten months of 2019
Vietnam's cashews were exported to 27 countries and territories, of which the US, China, the Netherlands, Germany and the UK were the main markets. The amount of cashew exports from these countries accounted for 65.92 per cent of the total amount of cashew exports, of which the exports to the US reached 122,590 tons, worth of 865.52 million USD, up by 7.91 per cent in volume but down by 18.12 per cent of the value, with the average export price of 7060.01 USD per ton, down by 24.12 per cent over the same period of 2018.
In October of 2019, Vietnam also exported to the U.S 13.510 tons of cashew nuts, worth of 88.76 million USD, down by 3.66 per cent in volume and 2.98 per cent in value, with the average price of 7060.01 USD per ton, up by 0.71 per cent compared to September of 2019. In comparison with October of 2018, the figure was up by 40.19 per cent in volume and up by 5.47 per cent in value, and the average price decreased by 24.76 per cent.

China ranked second after the US market with 58,140 tons, worth of 447,280 million USD, up by 58.16 per cent in volume and 36.30 per cent in value over the same period of 2018, although the average export price decreased by 13.82 per cent with only 7692.53 USD per ton. In October of 2019 alone, the country exported to the Chinese market 8,420 tons of cashew nuts, valued at 63.70 million USD, the average price reached 7564.35 USD per ton, up by 8.2 per cent in volume, 9.59 per cent in value. The average price increased by 1.29 per cent compared to September of 2019. In comparison with October of 2018, the figure increased both in volume and value, up by 25.74 per cent and 17.11 per cent respectively but the average price decreased by 6.86 per cent.
The next were the Netherlands, Germany and Britain with 36,610 tons; 14,480 tons and 13,590 tons worth of 275.13 million USD; 109.22 million USD and 92.23 million USD, respectively.

Exports of cashew nuts to several other markets
In general, in the first 10 months of 2019, cashew exports to markets mostly increased in volume, accordingly, the exports to Pakistan increased by 2.4 times (an increase of 137.5 per cent), but only reached 133 tons, valued at 1.03 million USD, an increase of 2.1 times (ie 114.34 per cent) over the same period of 2018, with the average export price of 7760.79 USD per ton, down by 9.75 per cent. Particularly in October of 2019, Vietnam also exported to Pakistan 29 tons of cashew nuts, worth of 238,300 USD, with an average price of 8217.24 USD per ton, down by 61.33 per cent in volume and 56.61 per cent in value, and the average price was up by 12.23 per cent compared to September of 2019. As compared to October of 2018, the figure was up by 3.57 per cent in volume, 6.9 per cent in value and the average price increased by 3.22 per cent.

In contrast, the exports of cashew nuts to South Africa and Norway markets fell sharply by 23.59 per cent and 22.18 per cent respectively with 625 tons and 806 tons, and the turnover also decreased by 46.07 per cent and 42.09 per cent over the same period last year.
Notably, the structure of export markets of the first 10 months of this year compared to last year has more markets such as Saudi Arabia with 2,940 tons; Kuwait - 144 tons; Iraq – 1,200 tons and Egypt – 1,500 tons.

Vietnam’s imports of cashew nuts in the first ten months of 2019
Although cashew exports contributed to the country's turnover of over 2.7 billion USD in the first 10 months of 2019, the imports of this cashew was over 1.8 billion USD with 1.41 million tons, up by 34.5 per cent in volume but down by 11.7 per cent in value over the same period of 2018.
In October of 2019 alone, Vietnam also imported 123,050 tons of cashew nuts, worth 167.78 million USD, down by 24.5 per cent in volume and down by 15.4 per cent in value compared to September of 2019 – this was the fourth consecutive month of decline, according to the preliminary statistics figures of the General Department of Customs.

Leading cashew import markets in the first ten months of 2019
In the first ten months of 2019, Vietnam imported cashew nuts mainly from Ivory Coast, accounting for 33.9 per cent of the total amount of imported cashew nuts reaching 480,700 tons, worth of 611.51 million USD, up by 38.94 per cent of the total, but decreased by 7.38 per cent in value, the average import price was 1272.12 USD per ton, down by 32.94 per cent over the same period of 2018.

In October 2019 alone, Vietnam also imported 37,770 tons of cashew nút from Ivory Coast, worth of 49.18 million USD, down by 32.46 per cent in volume and down by 23.13 per cent in value, with the average import price of 1308.91 USD per ton, up by 13.82 per cent compared to September of 2019. As compared to October of 2018, the imports of cashew nuts increased by 31.03 per cent in volume and 22.22 per cent in value, and the average import price decreased by 6.72 per cent.

The next was Ghana market. That was one of the new markets providing cashew nuts for Vietnam with 212,480 tons, worth of 256.82 million USD, with the average import price of 1208.69 USD per ton, especially in October of 2019, Vietnam also imported 5.700 tons of cashew nuts from this market, valued at 6.14 million USD, down by 40.17 per cent in volume and 39.88 per cent in value. The average import price was 1076.01 USD per ton, up by 0.48 per cent compared to September of 2019. The imports of cashew nuts from Cambodia reached 175,080 tons, worth of 294.27 million USD, with the average import price of 1680.75 USD per ton, up by 27.48 per cent in volume and 5.1 per cent in value, the average import price decreased by 17.55 per cent over the same period of 2018. In October of 2019 alone, 100,000 tons of cashews from Cambodia were imported, worth of 130,000 tons, down by 90.48 per cent in volume and 91.57 per cent in value compared to September of 2019; the figure was down by 99.24 per cent in volume and 99.52 per cent in value compared to October of 2018.

In general, in the first 10 months of this year, the amount of cashew imports from almost all markets increased, accordingly, the imports from Ivory Coast increased the most, followed by Cambodia and Indonesia.
Remarkably, besides Ghana market, Vietnam also imported from some new markets such as Singapore, Nigeria, Republic of Tanzania with import volume of 130 tons; 159.53 tons and 34.43 tons with the average import prices of 922.82 USD per ton; 1161.61 USD per ton; and 1434.18 USD per ton, respectively.
CK
Source: VITIC

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