Cashew exports in April hit record high

Vietnam exported 51,400 tonnes of cashew worth US$305.48 million throughout April, representing a rise of 5.6% in volume and 5.2% in value compared to April last year and reaching the highest level since October 2021, according to figures released by the General Department of Vietnam Customs.

During the course of the four-month period, the country shipped 162,400 tonnes of cashew worth US$952.5 million, marking an increase of 6.1% in volume and 4.5% in value against the same period from last year.

April alone witnessed the average export price of Vietnamese cashew nuts reach US$5,944 per tonne, the highest level since October 2022, while the four-month export value stood at US$5,865 per tonne, a drop of 1.5% compared to last year's corresponding period.

Cashew nut exports during the opening four months of the year to the United States, the Netherlands, Australia, Canada, and Germany saw a downward trajectory, while exports to markets such as China, the United Arab Emirates, the UK, and Saudi Arabia experienced an upward trend.

According to statistics from the China Customs, Chinese cashew imports in the first quarter of the year reached 8,420 tonnes worth US$33.88 million, up 45% in volume but down 0.6% in value on-year.

Of the figure, China imported approximately 4,720 tonnes of cashew from the Vietnamese market, worth US$27.72 million, up 20.6% in volume and 7.2% in value.

The market share of Vietnamese cashew nuts as part of China’s total imports fell from 67.41% in the first quarter of 2022 to 56.05% in the first quarter of the year.

Most notably, the northern neighbour has shifted to importing cashews from African markets such as Benin, Ivory Coast, Togo, and Tanzania.