Cashew market in the first week of September 2020

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In Vietnam, the epidemic situation has been controlled, but the world is still in a serious crisis, consumer’s demand is also reduced. A positive signal is that from the beginning of September 2020, the raw cashew transaction is bustling again due to the increasing demand for production to meet consumption at the end of the year.
The price of raw cashew traded in Vietnam market increased hotly in the first week of September 2020 with an increase from 1,000 to 5,000 VND / kg depending on outturn.
The purchase price of Cambodian raw cashew nuts continues to increase, due to the increasing purchase demand of factories to produce salt-roasted cashew, serving the needs of mid-autumn and year-end holidays. Accordingly, the price of Cambodian raw cashew nuts increased to the highest level of 1,200 VND / outturn, for small cashew nuts, the buying price of factories also increased to 900 VND outturn.
Besides, the new season of Senegal and Guinea Bissau also starts to return to Vietnam with good quality.
Cashew kernel prices remained stable, but transactions were more active, meanwhile, with low-grade dignity goods, selling prices maintained a downward trend, due to weak demand from the Chinese market.

According to the Agro Processing and Market Development Department in August, the volume of cashew nuts exported by Vietnam was estimated at 45 thousand tons with a value of $ 261 million, bringing the volume of cashew exports in the first eight months of 2020 to reach. 312 thousand tons and 1.99 billion USD, up 9% in volume but down 5.4% in value over the same period in 2019.
The volume of imported cashew nuts in August was estimated at 141 thousand tons with a value of $ 148 million, bringing the total volume and value of imported cashew nuts in the first eight months of 2020 to 924 thousand tons and $ 1.1 billion, down 18.4% in volume and 23.6% in value over the same period in 2019.
The Ministry of Agriculture and Rural Development forecasts that Vietnam’s cashew exports in the coming time will continue to increase because in the last months of the year, major importing countries such as the US, India, EU and China will increase their imports to serve the needs of occasions. year-end festival.
Cashew kernel price is forecasted to increase slightly in the coming time according to the law of supply and demand in the market because in recent years many small and medium-sized cashew processing facilities in both Vietnam and India have reduced capacity, affecting quantity of goods supplied to the market decreased.
The demand for cashew in the world in the last 6 months of 2020 is difficult to predict because cashew is not an essential food and the risk of Covid-19 pandemic outbreak in China, India and some countries. Consumers of cashew nuts in the world.

Source: Attrading

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