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HCM Metropolis (VNA) – Vietnam exported over 206,000 tonnes of cashew nuts value 1.19 billion USD within the first 5 months of 2022, down 7.81% in quantity and 6.81% in worth, the Vietnam Cashew Affiliation (VINACAS) reported.
Though the turnover decreased, the typical export value elevated by 1.45% in comparison with the identical interval in 2021, reaching about 5,792 USD per tonne.
In keeping with VINACAS, the cashew trade is dealing with many difficulties resulting from an unfavorable world market.
Exports for the entire yr are more likely to be decrease than in 2021, it stated.
In the course of the reviewed interval, Vietnamese cashew companies imported about 968,000 tonnes of uncooked cashew nuts with a complete worth of practically 1.4 billion USD, down 35.24% in quantity and 37.84% in worth.
Nevertheless, the worth of uncooked cashew imported from Africa elevated by 15-20 p.c this yr in comparison with the identical interval final yr.
The cashew crop this yr got here later as a result of results of local weather change. There have been additionally indicators of pests and ailments in main cashew rising areas.
The worth of uncooked cashew nuts and the price for processing are excessive, making it tough for processing factories to interrupt even, stated Tran Van Hiep, Vice Chairman of VINACAS.
In keeping with Hiep, the Russia-Ukraine battle and world inflation are affecting Vietnam’s exports of cashew nuts.
Final yr, Russia was the eleventh largest importer of Vietnamese cashew nuts with an export worth of practically 62 million USD. For the reason that Russia-Ukrainia battle occurred, exports to Russia have confronted cost difficulties.
Growing inflation in lots of international locations, together with the zero-COVID coverage of China – one in every of Vietnam’s main export markets – have additionally adversely affected the export of cashew nuts and different agricultural merchandise from Vietnam, consultants stated.
Exports in 2022 are forecast to face extra difficulties resulting from excessive delivery prices, they famous.
Vietnam is ready to earn 3.8 billion USD from exporting cashew nuts in 2022, 200 million USD larger than final yr, Hiep stated.
Nevertheless, within the present context, VINACAS has proposed to regulate the objective to three.2 billion USD, down 400 million USD in comparison with 2021./.
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