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Cashew exports in Vietnam 2020 - Difficult to reach the target of 3.2 billion USD

09/12/2020 524 Viewed

According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), in the first 10 months of 2020, the export output of cashew nuts reached 415,000 tons, the turnover value reached $ 2.61 billion, increased 11.5% in volume but decreased 3.4% in value over the same period in 2019. The US, the Netherlands and China remained the three largest cashew import markets of Vietnam, accounting for market share. 33.5%, 13% and 12.7% of the total cashew nut export value respectively (data in the first 8 months of the year).

Cashew exports in Vietnam 2020 - Difficult to reach the target of 3.2 billion USD

The Department of Agro-Processing and Market Development forecasts that Vietnam's cashew exports in the remaining months of 2020 will continue to increase, due to demand for year-end Tet holidays of major importing countries. such as the US, India, China and the EU. However, there are uncertainties about the demand for processed cashews such as cashew nuts that are not essential foods and the risk of the Covid-19 pandemic reoccurring in Europe, China and India. Degrees and some other major countries. The purchasing power from the Chinese market is not too large, and the importers from the US and EU have stored enough inventories until December 2020, so the target that Vietnam has set is 450,000 tons and 3.2 billion. USD by the end of 2020 will face many difficulties.

 

Source: Nld.com.vn