Vietnam sharply increased imports of cashew nuts from Indonesia

According to statistics from the General Department of Customs, in February 2024, Vietnam's cashew imports reached nearly 133.6 thousand tons, equivalent to 172.2 million USD, an increase of 44.3% in volume and an increase of 64,000 USD. 2% in turnover compared to January 2024.

In the first 2 months of 2024, Vietnam's cashew nut imports reached more than 225.6 thousand tons, worth nearly 276.6 million USD, down 17.5% in volume and 23.5% in value compared to the same period last year. period last year. Vietnam's average cashew import price reached 1,226 USD/ton, down 7.4% over the same period in 2023.

In the first 2 months of the year, Vietnam's cashew imports decreased slightly

In terms of markets, our country imports large amounts of cashew nuts from markets such as Cambodia, Ivory Coast, Ghana,... Of which, imports from Indonesia suddenly recorded the strongest increase in the first 2 months of 2024.

Specifically, in February 2024, cashew nut imports from Indonesia reached nearly 2,555 tons, equivalent to 2.87 million USD, an increase of 486% in volume and 452% in value compared to February 2023. Accumulated 2 Monthly, imports of this type of agricultural product from the Indonesian market reached nearly 9,122 tons, worth nearly 10.5 million USD, up 218% in volume and 205.3% in turnover compared to the same period last year.

The average import price in 2 months reached 1,147 USD/ton, down nearly 4% compared to the same period in 2023. Although having the strongest growth, Indonesia accounts for the lowest proportion of all cashew suppliers to Vietnam. South in the first 2 months of the year.

In the opposite direction, Vietnam exported 91,729 tons of cashew nuts, equivalent to 493.2 million USD in the first 2 months of the year, an increase of 48.9% in volume and 39.2% in turnover over the same period.

Vietnam has been the world's leading cashew exporter for 16 consecutive years and accounts for nearly 80% of total global output. In 2023, cashew exports will reach 644 thousand tons, equivalent to 3.6 billion USD, an increase of 24% in volume and an increase of 18% in turnover compared to 2022. With this result, the cashew industry has exceeded 18%. 3.05 billion USD plan, this is also the highest result in recent years.

Currently, Vietnam's cashew growing area is only about 300,000 hectares, providing about 30% of raw materials for businesses' processing needs, so factories and businesses still have to import a large amount of cashew nuts. from processing countries.