According to a representative of the Vietnam Cashew Association, there is a paradox that the export price of cashew kernels has not increased, but the import price of raw cashew nuts has increased because the processing capacity of processing factories is too large, so it is always in a state of “hungry”. material. Meanwhile, the low export prices of cashews as a result of the COVID-19 epidemic have made prices go down since last year.
In 2021, the cashew industry aims to export $3.6 billion, an increase of 12.9% compared to 2020. Up to now, Vietnam has exported cashew kernels to more than 90 countries and territories, accounting for around 80. % of cashew kernels exported in the world. However, the dependence on raw materials is becoming a concern of cashew enterprises.
The representative of the Cashew Association said that Vietnam’s cashew kernel processing industry for export is under great pressure from the policy of supporting cashew growers and restricting the export of raw cashew from African countries such as Ivory Coast and Tanzania. … Meanwhile, the world’s major cashew kernel consumption markets such as India and China are also applying policies to limit the output of cashew kernels imported from Vietnam.
On the other hand, in the global cashew nut value chain, Vietnam mainly still exports low-value pre-processed cashew kernels, about 10 USD/kg, while the finished cashew kernels reach consumers in other countries about 30 USD. /kg. Thus, Vietnam only accounts for about 30% of the cashew industry value chain.