2018 cashew nut exports up in volume, down in value

Vietnam exported 339,700 tons of cashew nuts worth $3.09 billion in 2018, up 5.3 per cent in volume but down 3.6 per cent in value compared to 2017, according to the General Department of Vietnam Customs.

The average export price last year was $9,012 per ton, a 9.5 per cent decline against 2017. Export volumes in December stood at 35,100 tons worth $278.8 million, up 4.7 per cent in volume but down 1.8 per cent in value compared to November.

Key import markets have been the US, China, and the Netherlands. Exports to the US and China grew in volume (9.76 per cent and 7.96 per cent, respectively) but fell in value compared to 2017. The US was fourth last year, with 14,847 tons worth $128.8 million, down 5.08 per cent in volume and 13.84 per cent in value compared to 2017. The average export price was $8,674 per ton, down 9.23 per cent.

Exports of cashew nuts to most markets grew in volume but fell in value. Exports to Ukraine increased 109.56 per cent, though was only 767 tons, worth $6.59 million, up 91.13 per cent compared to 2017. Vietnam exported 81,000 tons to Ukraine in December worth $633,100, down 37.69 per cent in volume and 38.36 per cent in value compared to November, but compared with December 2017 increased 406.25 per cent in volume and 473.77 per cent in value, while the average price rose 13.34 per cent.

Exports to Pakistan fell sharply, by 85.38 per cent, equivalent to 56 tons, and were valued at $481,500, down 88 per cent compared to 2017.

The decline in the export price has affected the domestic cashew nut market. According to the Vietnam Cashew Association (Vinacas), domestic purchasing of raw cashew nuts is down due to declining prices, making processing plants no longer purchase high volumes of input materials, except for certain plants that lack raw materials and have export contracts at prices in November, of $1,400-$1,500 per ton.

It is forecast that the cashew nut price will continue to fall until March or April, when roasters begin to purchase to fulfil contracts.