Binh Phuoc Cashew Association updates crop situation and market trends

BPO - On the morning of February 27, in Phuoc Long town, Binh Phuoc Cashew Association held a conference to update the crop situation, prices, market trends and agree on the purchasing plan for 2025.

Chairman of Binh Phuoc Cashew Association Vu Thai Son: "Currently, cashew prices are high, the world economy is not developing well, so people should not rush to buy raw cashews at high prices."

Binh Phuoc Cashew Association members attend the program

At the conference, Chairman of Binh Phuoc Cashew Association Vu Thai Son gave a quick update on the world cashew market situation. In 2024, the total world raw cashew output will be nearly 5.3 million tons, of which Africa accounts for 62%. Experts predict that this year the world raw cashew output will increase by 8-10% compared to 2024. According to the General Department of Customs, in 2024, Vietnam's cashew export turnover will reach 4.37 billion USD, an increase of 20.3% in value compared to 2023. The US and Europe both increased consumption by 15-20%. Cashew kernel inventory is not large. Vietnam accounts for more than 70% of the world's cashew kernel exports.

The Chairman of Binh Phuoc Cashew Association also informed about the policies of countries that consume a lot of cashews, analyzed the favorable and unfavorable correlations of the cashew industry. Information updated on the crop situation, prices, market trends for the 2025 crop, orientation, and agreement on purchasing plans are activities to help members update information on the raw cashew market for the 2025 crop.

Source: https://baobinhphuoc.com.vn/news/4/169674/hoi-dieu-binh-phuoc-cap-nhat-tinh-hinh-vu-mua-gia-ca-xu-huong-thi-truong