The current cashew nuts of the manufacturing plants only meet the contracts signed before, while there are many orders that need immediate delivery, the quantity of cashew nuts does not meet the demand.
The output of cashew nuts in Binh Phuoc has not met the processing demand of enterprises, so it is necessary to import raw materials for processing every year. With positive signs of cashew consumption situation in the third quarter of 2019, Import and Export Department forecast W320 cashew nut price will reach 3.3-3.5 USD / pound thanks to demand for cashew nuts Demand may reach 10-15% growth during this period.
According to the Department of Agricultural Product Processing and Development, in May, the volume of Vietnamese cashew nuts exported was estimated at 39,000 tons with a value of USD 284 million, bringing the volume of cashew nut exports to 154,000 tons and USD 1.2 billion. , up 7.9% in volume but down 14.9% in value over the same period in 2018.
In the opposite direction, the volume of imported cashew nuts in May was estimated at 131,000 tons with a value of 181 million USD, bringing the total volume and value of imported cashew nuts in the first 5 months of 2019 to 416,000 tons and value. reached US $ 663 million, up 7.9% in volume but down 22.2% in value over the same period in 2018.
On the world market, the Ivory Coast and Cashew Councils are trying to control the export price of raw cashew nuts at a floor price set at USD 1,240 / ton and have asked to suspend all export procedures. Shipments of things from April 30 to May 10 to check on the export price of raw cashew nuts.