Export of cashew declines in three criteria
Sketched by T.Bình |
According to General Department of Vietnam Customs, in the first half of August (from August 1 to August 15), Vietnam exported 22,139 tons of cashews, with a turnover of nearly US$129.2 million.
From the beginning of the year to August 15, the whole country imported 317,155 tons, with a turnover of nearly US$1.9 billion.
Compared to the same period in 2021, the quantity and export turnover of cashew nuts are both decreased. In particular, the volume reduced by about 9.2% (equivalent to a decrease of more than 32,000 tons), while the turnover dropped by about 11.5% (equivalent to nearly US$246 million).
The decline in turnover is larger than the volume, so it is easy to see that the average export value of this item is also lower compared to the same period last year.
Accordingly, in the first months of this year, cashew nut exports averaged US$5,983/ton, decreasing by about 2.5% (equivalent to about US$150/ton, it reached nearly US$6,134/ton in the same period last year).
Facing difficulties in finding output of products, recently, the Vietnam Cashew Association (VINACAS) proposed the competent authority to reduce the export turnover quota.
In 2022, the Ministry of Agriculture and Rural Development assigned the export target for the cashew industry at about US$3.8 billion, an increase of US$200 million compared to 2021.
However, recently, VINACAS proposed to adjust the export target for the whole year to US$3.2 billion, a decrease of US$400 million compared to 2021.
According to VINACAS, one of the difficulties in exporting this item is due to the impact of the war between Russia and Ukraine.
Currently, the export markets of cashew nuts are quite diverse such as the United States, China, the Netherlands, Germany, Canada, the UK, and Spain.
However, the three largest export markets, United States, China, and the Netherlands, were deeply reduced in both volume and value.
Related News
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Dong Nai Customs: understand the business situation to develop effective support solutions
13:27 | 04/04/2023 Customs
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Need to effectively use tools to prevent exchange rate risks in import and export field
10:32 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export