Cashew nut massively exports to China base on trade tensions USA-China
Tariff issue relates with USA-India and USA-China will help Vietnam raw cashew nut is consumed well in China and India because others nut from USA decrease.
According Department of Processing and Developing Agricultural Market (Ministry of Agriculture and Rural Development): For the first 8 months of the year, exporting cashew nut amount 287 thousand tons, equivalent 2,1 billion USD, increase 18,8% about quantity but decrease 7,3% about value compare with the same period in 2018.
USA, China and Netherlands are big markets export Vietnam cashew nut for the first 7 months of the year, market share in order is 32,7%, 15% và 9,6% sum of cashew export value.
For the first 7 months of the year, markets increase strongly export value are: Belgium increases 38,9%, China increases 31,1%, Germany increases 22,1%…
Specially, although quantity increases but average price of cashew nut for the first 7 months of the year only takes 7.468 USD/ton, decrease 21,9% compare with the same period in 2018.
Department of Processing and Developing Agricultural Market determine: Tariff issue relates with USA-India and USA-China will help Vietnam raw cashew nut is consumed well in China and India because others nut from USA decrease.
Recently, China government command to stop export American agricultural to China that causes China buys more raw cashew nut from Vietnam for the coming months to offset the shortage of exported others nut from USA. However, yuan is devaluation also pushing the exported cashew nut price to China market higher than before.
Kernel and raw cashew nut in next time is said that stability and upward trend but it’s difficult to appear skyrocketed price. “Therefore, processing enterprises should not sign a contract sell kernel while not yet buy raw cashew nut because price of kernel can increase for the last months of the year”. Department of Processing and Developing Agricultural Market suggested.
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