Cambodia is selling a huge amount of one type of cashew seed to Vietnam, what is it?
In the first 11 months of 2021, Cambodia is the second largest agricultural export market to Vietnam, after the US, with a turnover of up to 3.3 billion USD. In which, Vietnam imports the most from Cambodia, accounting for 61.7% of import turnover.
Vietnam buys a huge amount of cashews from Cambodia
According to a report by the Ministry of Agriculture and Rural Development, in the first 11 months of 2021, Cambodia is the second largest agricultural export market to Vietnam, after the US.
Specifically, the import turnover of Vietnam's agricultural, forestry and fishery products in the first 11 months of 2021 is estimated at 39.2 billion USD, up 39% over the same period in 2020.
The US continues to be the largest export market of agricultural products to Vietnam, reaching nearly 3.5 billion USD, accounting for 8.9% of the market share; followed by Cambodia with about 3.3 billion USD, accounting for 8.5%, of which cashew products accounted for nearly 61.7%.
In fact, despite being an export value of billions of dollars, Vietnam can only take the initiative in about 20% of raw materials for processing factories, the rest has to be imported from Africa and recently Cambodia.
A report by the Import-Export Department (Ministry of Industry and Trade) shows that about 90% of Africa's cashew production is exported, mainly to Vietnam and India.
At a conference to discuss production solutions for the 2021 - 2022 winter-spring crop recently held by the Ministry of Agriculture and Rural Development, Mr. Le Thanh Tung, Deputy Director of the Department of Crop Production (MARD) informed that the total area of cashew nut crop 2019 - 2020 of the whole country 302,500 ha, an increase of 5,300 ha; average yield is 12.1 quintals/ha; production is about 339,800 tons.
Meanwhile, each year Vietnam needs to import about 1.4 million tons of raw cashews for processing.
Currently, the land fund for crops is basically stable, while in terms of economic efficiency, cashews are less competitive than other crops, so expanding the area is difficult.
Importing raw cashews from Cambodia and Africa for processing, Vietnam sells it to the US, Germany, China, etc., earning US$3.3 billion.
Despite the impact of the Covid-19 epidemic, Vietnam's cashew exports still grew very positively.
It is estimated that Vietnam's cashew exports in November 2021 will reach 50,000 tons, worth 326 million USD. In the first 11 months of 2021, Vietnam's cashew exports are estimated at 531,000 tons, worth 3.34 billion USD, up 14.3% in volume and 14.6% in value over the same period in 2020.
Notably, the average export price of Vietnam's cashew nuts in November 2021 reached $6,528/ton, up 6.4% compared to November 2020.
In the first 11 months of 2021, Vietnam's average cashew export price is estimated at 6,290 USD/ton, up 0.2% over the same period in 2020.
It is worth noting that, in 2021, in addition to focusing on exporting the main types of cashew nuts W320 and W240, the Vietnamese cashew industry will promote the export of high-value cashews such as W180 cashews.
W180 cashew nut is the cashew nut with the highest growth rate in the first 10 months of 2021, up 43.4% in volume and 56% in value over the same period in 2020, reaching approximately 15,000 tons, worth $127 million.
In which, China is the main export market of W180 cashew nuts, the volume reached 7,740 tons, worth 61.21 million USD.
Vietnam's cashew nut market share in China's total imports increased from 86.05% in 10 months of 2020 to 89.06% in 10 months of 2021.
In addition to China, many EU countries also increased their cashew imports from Vietnam, including Germany. Currently, Germany is the largest cashew nut import market in the European Union (EU).
In the first 9 months of 2021, due to the impact of the Covid-19 pandemic, Germany reduced its cashew nut imports from Vietnam, however, the reduction in imports from Vietnam was still lower than the decrease in imports from the Indian market. India and the Netherlands.
Specifically, in the first nine months of 2021, Germany imported 28,230 tons of cashews from Vietnam, worth $201.21 million, helping Vietnam's cashew market share in Germany's total imports increase from 57.51 % in the first 9 months of 2020 to 62.46% in the first 9 months of 2021.
According to the Import-Export Department, Vietnam is still the number 1 source of cashew nuts in the German market thanks to its stable supply and guaranteed quality.
Danielmachine : Cashew nut processing machine in Vietnam.