Vietnam’s cashew nut exports have shown positive growth and promising market trends in May 2023. Let’s explore the latest statistics and the significant developments in Vietnam’s cashew export industry.
During the first five months of 2023, Vietnam’s cashew exports reached approximately 219 thousand tons, valued at 1.28 billion USD. This represents an 8.0% increase in volume and a 5.5% increase in value compared to the same period last year.
In May 2023, Vietnam witnessed remarkable growth in cashew nut exports. The total volume reached 57 thousand tons, valued at 331 million USD, reflecting a 10.9% increase in volume and an 8.3% increase in value compared to April 2023. Moreover, when compared to May 2022, the volume surged by 13.9% and the value increased by 8.3%.
Price Trends and Categories
Despite the positive growth in export volume, the average export price of Vietnam’s cashew nuts experienced a slight decline. In May 2023, the average price was estimated at $5,805 per ton, indicating a 2.3% decrease compared to April 2023 and a 4.9% decrease compared to May 2022. From January to May 2023, the average export price of Vietnam’s cashew nuts stood at $5,850 per ton, down 2.4% compared to the same period in 2022.
Vietnam’s cashew exports were largely dominated by three categories: W320, W240, and W180, which accounted for 62.3% of the total volume and 69.5% of the total export turnover. The growth in these particular categories has had a positive impact on the entire cashew industry.
In April 2023, Vietnam’s export of W320 cashew nuts reached 20.61 thousand tons, valued at 130.44 million USD, representing a 3.4% increase in volume and a 3.6% increase in value compared to the previous month. However, there was a slight decline of 0.6% in volume and 0.2% in value compared to April 2022. Overall, from January to April 2023, W320 cashew nut exports reached 67.75 thousand tons, valued at $427.11 million, reflecting a 6.8% increase in volume and a 3.3% increase in value compared to the same period last year.
Similarly, the export of W240 and W180 cashew nuts witnessed significant growth in both volume and value, with increases of 5.4% and 57.4% in volume, and 5.2% and 48.4% in value, respectively. The export volume for W240 reached 24.15 thousand tons, valued at 164.35 million USD, while W180 accounted for 9.28 thousand tons, valued at 70.86 million USD during the first four months of 2023.
Although there were reduced exports of certain cashew nut types, such as cashew WS/WB, SP, W210, and DW, the overall performance of Vietnam’s cashew export industry remains positive. As a pioneer in organic agriculture, Visimex has played a pivotal role in driving Vietnam’s agricultural exports for the past two decades. Their expertise and experience have contributed significantly to the success of Vietnamese agriculture products in the global market.
Conclusion:
Vietnam’s cashew nut exports in May 2023 have demonstrated impressive growth, reflecting positive market trends. With increased volume and value, Vietnam continues to establish its position as a key player in the global cashew industry. Visimex’s dedication to organic agriculture and extensive experience in exporting Vietnamese agricultural products further solidify Vietnam’s reputation as a leading exporter of high-quality cashew kernels.
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