Cashew exports in 2021 will be positive

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Cashew exports in 2021 will be positive

The Department of Agro-Processing and Market Development (Ministry of Agriculture and Rural Development) said that the volume of cashew nuts exported in January 2021 was estimated at 45 thousand tons with a value of $ 268 million, up to 78. , 2% in volume and 51.8% in value over the same period in 2020.

In 2020, the average export price of cashew nuts will reach US $ 6,238.5 / ton, down 13.6% compared to 2019. The United States, China and the Netherlands remain the 3 largest import markets of cashew of Vietnam in 2020, accounting for 30.9%, 15.9% and 12.1% of total cashew export value respectively.

Besides, according to the estimate of the Import and Export Department (Ministry of Industry and Trade), cashew nut exports in December 2020 reached 47 thousand tons, worth $ 280 million, up 2.3% in volume, but down 0.6 % in value compared to November 2020. Therefore, for the whole year 2020, the export of cashew nuts is estimated at 511 thousand tons, worth $ 3.19 billion, up 12.1% in volume but down 3% in value compared to 2019.

In the domestic market, in January 2021, the price of raw materials increased slightly. Specifically, dry cashew bought bucket in Binh Phuoc increased from 31,000 VND / kg to 33,000 VND / kg. In Dong Nai, raw cashew nuts bought in buckets were kept at VND29,000 / kg.

According to the plan of crop production in 2021 of the Ministry of Agriculture and Rural Development, the total cashew area of ​​the whole country in 2021 is 297 thousand hectares (equal to 99.7% compared to 2020), the output of raw cashew will reach 360 thousand tons, the average yield of 1.29 tons / ha.

The Department of Agro-Processing and Market Development expects cashew kernel prices to increase in the near future because the domestic supply of cashew is not much while the buying price of raw cashew is still high, so processors are very cautious in the raw thing entry.

Besides, cashew nut price forecast in 2021 is likely to recover as the price in 2020 has dropped to a low level. At the same time, cashew exports will slow down in the first quarter of 2021 according to the cyclical factor. The United States and Europe reduced imports due to boosting imports at the end of 2020. However, the Department of Agro-Processing and Market Development said that the outlook for cashew exports for the whole year 2021 will generally positive thanks to Free Trade Agreements./.


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