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Tag: nuts

  • Vietnam Sets Ambitious Goal: Targeting $4.5B in Cashew Exports by 2025

    Vietnam Sets Ambitious Goal: Targeting $4.5B in Cashew Exports by 2025

    Vietnam is setting its sights on exporting an impressive US$4.5 billion worth of cashew nuts this year, reflecting a 2.7% increase from the previous year, as reported by the Ministry of Agriculture and Environment.

    In the first half of 2025, the country shipped 346,800 tonnes of cashews, valued at $2.36 billion. While this represented a 2.7% decline in volume, the value surged by 20.4% compared to the same period last year. The spike in revenue was largely driven by a notable increase in export prices, with the average price per tonne soaring over $6,805—a hefty 23.8% rise from 2024.

    Vietnam’s top three cashew export destinations—China, the U.S., and the Netherlands—accounted for significant portions of the market, at 22%, 21.6%, and 8.4% of total export value, respectively. Notably, exports to these markets grew by 41.2%, a mere 0.1%, and 22.4% in value, underscoring a dynamic shift despite some fluctuations.

    To meet its ambitious target, the Vietnamese cashew sector needs to ramp up revenues to around $2.2 billion during the second half of the year. The ministry is advocating for intensified efforts to penetrate emerging markets like the UAE and Saudi Arabia, where demand for Vietnamese cashews is on the rise but the presence remains minimal. Additionally, exports to the EU have consistently climbed in recent years, signaling a fruitful opportunity for growth.

    In a sprightly turn of events for manufacturers, the recent drop in raw cashew prices—from $1,450 to $1,350 per tonne—is providing an advantageous cost structure as the peak season approaches, particularly with year-end festivals and the Lunar New Year on the horizon. The Vietnam Cashew Association anticipates the global market for cashews to expand at an average annual rate of 4.6% from 2022 to 2027. Last year, Vietnam recorded an unprecedented export of 730,000 tonnes, generating $4.37 billion, a striking 20.2% increase year-on-year, solidifying its reputation as a global cashew powerhouse.

    Questions & Answers

    What is Vietnam’s target for cashew exports in 2025?
    Vietnam aims to export $4.5 billion worth of cashew nuts in 2025, marking a 2.7% increase from the previous year.

    Which countries are the top buyers of Vietnamese cashews?
    The top three buyers of Vietnamese cashews are China, the United States, and the Netherlands, accounting for 22%, 21.6%, and 8.4% of the total export value, respectively.

    How does the recent decline in raw cashew prices impact manufacturers?
    The decline in raw cashew prices from $1,450 to $1,350 per tonne offers manufacturers a cost advantage as they prepare for the peak export season around year-end festivities and the Lunar New Year.

  • Vietnam to import more cashew

    Vietnam to import more cashew

    Viet Nam, the world’s No 1 exporter of cashew products, expects to import an aditional 500,000 tonnes of nuts from now until October to meet its annual export target, according to the Vietnam Cashew Association (Vinacas).

    Without imports, the industry will not meet its export target of 360,000 tonnes because unseasonal rains have shrunk the 2016-17 crop, which in any case would have been insufficient to meet processing demand, the association said. Currently, nearly two-thirds of the nuts for Vietnam’s cashew industry are imported.

    According to the General Department of Vietnam Customs, 165,000 tonnes of cashew nuts worth about US$1.62 billion were exported in the first six months of 2017, up 2.3 per cent in volume and 27 per cent in value year-on-year.

    But Vinacas Chairman Nguyen Duc Thanh said the domestic cashew supply was not sufficient for processing needs in the first half, so the industry had to import 400,000 tonnes of high-quality raw cashew nuts from Africa.

    However, processors complained that while imported nuts were expensive, processed product prices remained unchanged, leading to lower profits, Thanh noted.

    Vietnam has been the world’s No1 cashew nut exporter for 11 straight years and is set to keep this position for the 12th year as it is forecast to ship abroad 360,000 tonnes of cashew nuts worth $3.3 billion in 2017. Since the six-month shipments were equivalent to just 45 per cent of this year’s target, the industry must work harder to realise this goal, according to Vinacas. The year’s final harvest in the fall is not expected to make up the shortfall.

    Due to the shortage, the price of raw nuts on the domestic market was expected to rise, even for low-quality raw material, especially in the period from October to December 2017. Therefore, many plants have scheduled to reduce their processing capacity and some small plants will have to close.

    Nguyen Quang Huyen, General Director of the Hoang Son 1 Co, Ltd, said the shortage of raw cashew is not new. Major enterprises made preparations from the start of the year to ensure normal production activities. Only small firms without adequate storage have to wait for imported materials.

    According to Vinacas Chairman Thanh, to ensure bigger crops, new high-yield cashew varieties tolerant to climate change and disease must be planted, and the planting schedule should be adjusted to cope with climate change.

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