In 2020, Vietnam's cashew industry aims to export 4 billion USD
Danielmachine
TCCTV With positive signals from the market and the ability to take initiative in raw materials, the cashew industry aims to export US $ 4 billion of cashews in 2020. According to the Vietnam Cashew Association, the cashew industry will focus on processing. depth, improve quality and diversify products to achieve the set goals.
Import and Export Department (Ministry of Industry and Trade) said that in the first 6 months of 2020, the price of raw cashew nuts and processed cashew nuts will fluctuate in a narrow band due to complicated developments of the global economy, trade tensions. between the United States - China, the United States - India, the protection policies of countries related to raw cashew nuts of African countries such as Ivory Coast, Mozambique, and Tajikistan a, more and more new policies to tighten such as the imposition of the price of raw cashew nut floors when trading, or the Government takes direct steps to reserve and trade.
India is the largest cashew consuming market in the world with a population of about 1.3 billion people, but the country is currently applying tax policies to limit the amount of cashew nuts imported, mainly from Vietnam. The Indian Cashew Association and Association has urged the Government to take measures to control the import of cashew nuts when the price of kernel in India domestic market is higher than the price in European and American markets. India raised the minimum import price (MIP) to 1.8 - 2.4 times.
The United States and Europe will apply some more food safety standards and will check for more banned chemical residues. The reason is that supermarkets are becoming more and more strict about food safety. Meanwhile, EU and some European countries will tighten regulations on origin of goods. In addition, the world cashew industry has no survey data, assess consumer demand growth, product planning in 2020 and subsequent years.
In 2020, the Vietnam Cashew Association (Vinacas) will continue to implement the policy of "reducing quantity and increasing quality" in order to improve kernel quality and processing efficiency in the context that the global cashew market is forecasted. There will be many risk factors and unpredictability. Market movements are also not in accordance with the annual rule, usually at the end of the year, transactions increase sharply, while in 2019 European customers are cautious, the Chinese market is not active.
Therefore, enterprises need to be sensitive and adjusted to have a suitable 2020 plan and close to reality. Based on the rate of import and export and the results achieved in 2019, it is likely that in 2020 the cashew industry will import about 2 million tons of raw cashew nuts and export over 500,000 tons of processed cashew nuts.
However, businesses need to keep abreast of the market, especially in terms of supply and demand. Therefore, it is necessary to have cooperation and information exchange between large enterprises to have specific directions and plans in importing raw cashew nuts and the supply of processed cashew nuts to the market.
By the end of November 2019, Vietnamese enterprises had exported more than 418,000 tons of cashew nuts worth nearly US $ 3 billion; while the cashew export target in 2019 is 450,000 tons, worth 3.5 billion USD. The US remains the largest import market for Vietnamese cashew nuts, followed by China and the Netherlands.