Cashew nut exports increase, but processors face shortage of raw materials
Monday, June 18,2018AsemconnectVietnam - Viet Nam exported 141,000 tonnes of cashew nuts for a value of U$$1.39 billion in the first five months of the year, a year-on-year increase of 21.4 per cent and 25.3 per cent, respectively, according to the Viet Nam Cashew Association.
Despite having positive export growth, cashew farmers and processing firms enjoyed only 30-35 per cent of profit in the value chain, with the remainder in the hands of international cashew processors and traders, according to Nguyen Duc Thanh, Vinacas’s chairman.
Currently, domestic processors are facing difficulties due to lack of raw materials.
Ta Quang Huyen, who is also deputy chairman of Vinacas and director of Hoang Son 1 Company in Binh Phuoc Province, said in the first five months of 2018, Vietnamese firms imported 283,000 tonnes of raw cashews plus 370,000 tonnes from domestic supply and purchases from Cambodia via border trade, totaling 653,000 tonnes.
With the ratio of 4.3 kilos of raw cashew materials offering one kilo of cashew kernels, and 141,000 tonnes of cashew kernels exported in the first five months of the year, all of the 653,000 tonnes of raw materials were processed in the first five months.
"This means that enterprises have no inventory or very limited inventory, so they have to wait for raw materials," he said.
Cashew prices had fallen this year to $8.2 per kilo from $11 per kilo last year, so processing firms had broken even or taken a loss.
Tran Van Hiep, head of the trade promotion board at Vinacas, said cashew prices were expected to increase again.
Golden Cashew Rendezvous
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