Which markets does Vietnam import the most cashews from?

Chinese market reduces cashew nut imports from Vietnam. Raw cashew nut imports from Cambodia skyrocket, is there anything unusual?

Preliminary statistics from the General Department of Customs show that in the first 11 months of 2023, Vietnam's cashew nut imports reached nearly 2.66 million tons with a turnover of 3.07 billion USD. Compared to the same period last year, the amount of imported cashew nuts increased by 46.5%, and the value increased by 19.2%. Enterprises import raw cashew nuts for processing and export.

Việt Nam nhập khẩu hạt điều nhiều nhất từ các thị trường nào?

The five largest cashew nut suppliers to Vietnam include: Ivory Coast, Cambodia, Nigeria, Ghana and Tanzania.

Of which, cashew nuts imported from Ivory Coast and Cambodia accounted for 57.5% of the total import value of the entire cashew industry in the past 11 months.

However, the structure of the cashew import market has changed. Vietnam has reduced imports from Cambodia and Tanzania but increased imports from Ivory Coast, Nigeria and Ghana.

Specifically, the amount of cashew nuts imported from Ivory Coast reached 850 thousand tons, worth 919.3 million USD, up 86.6% in volume and 56.7% in value over the same period last year.

Cashew nuts imported from Nigeria increased dramatically by 133.2% in volume and 89.7% in value.

The volume of cashew nuts imported from Ghana also increased by 71%, the value increased by 45.5%.

In contrast, cashew imports from Cambodia decreased to 613.2 thousand tons, worth 835.3 million USD. Compared to the same period last year, it decreased by 13.8% in volume and 23.3% in value. However, Cambodia is still the second largest market supplying raw cashew nuts to Vietnam, after Ivory Coast.

According to Mr. Suy Kok Thean - Vice President of the Cambodian Cashew Association, Cambodia's largest market for unprocessed cashew nuts is Vietnam, which has exceeded 90%. However, not only Vietnamese traders but also many other international traders have come to learn about and buy Cambodian cashew products.

Cambodia is the largest supplier of cashew nuts in Southeast Asia to Vietnam. Specifically, in the first 10 months of 2023, Cambodia exported more than 615,000 tons, out of a total of more than 651,000 tons of fresh cashew nuts, earning more than 813 million USD, down 16.7% compared to the same period in 2022.

It is worth noting that although the export turnover to Vietnam has decreased, the price of cashew nuts from Cambodia is at an extremely attractive level. Besides Cambodia, Vietnam also imports cashew nuts from other countries such as: Ivory Coast, Ghana, Nigeria, etc.

According to the Vietnam Cashew Association, most cashew processing enterprises have not been proactive in their raw material sources. Domestic raw cashew supply only meets about 30% of processing capacity, 70% of raw materials depend on imported goods.

To promote the development of the cashew industry, the leader of the Vietnam Cashew Association said that processing enterprises need to focus on investing in developing raw material areas; supporting and signing purchasing contracts with cashew growers to have a stable source of raw materials. Thereby, reducing dependence on foreign raw cashew supply, improving the competitiveness of our country's cashew processing and export.

Source link