2024 Raw Cashew Nut Import Market: Trends and Fluctuations from Key Markets

In 2024, Vietnam’s raw cashew nut (RCNs) import market experienced significant fluctuations, particularly from the two main suppliers, Côte d’Ivoire and Cambodia. This article provides a detailed analysis of raw cashew imports from these markets based on statistical data from January to August 2024.

Raw Cashew Nut Import Situation

In the first eight months of 2024, Vietnam imported 1,952,644.06 tons of raw cashew nuts, down 10.38% compared to the same period in 2023. The total import turnover reached 2,340,775,426.86 USD, down 8.67% compared to last year. The average import price reached 1,191.16 USD/ton, a slight decrease of 0.64%.

Key figures:

• January: The import volume reached 91,601.20 tons, down 14.58% compared to 2023, with turnover reaching 97,712,359.37 USD, down 24.27%. The average import price was 1,066.71 USD/ton, down 11.35%.
• March: This was the month with the highest import volume, reaching 411,895.45 tons, up 32.17% compared to the previous year. The turnover reached 511,043,744.34 USD, but still decreased by 6.91% compared to last year, with an average price of 1,240.71 USD/ton.

Cashew Kernel Import Situation

The total import volume of cashew kernels in the first eight months of 2024 reached 92,376.35 tons, an increase of 33.27% compared to the same period in 2023. The total import turnover reached 542,047,949.86 USD, an increase of 38.69% compared to last year. The average import price was 5,774.64 USD/ton, up 2.30%.

Key figures:

• January: The import volume reached 8,709.75 tons, up 101.59% compared to 2023, with turnover reaching 47,302,356.23 USD, up 95.00%. The average import price was 5,430.97 USD/ton, down 3.27%.
• June: This was the month with the highest average import price, reaching 6,196.32 USD/ton, up 6.32% compared to the previous year.

Analysis of Raw Cashew Nut Import Market from Côte d’Ivoire and Cambodia

3.1 Côte d’Ivoire Côte d’Ivoire was the second largest supplier of raw cashew nuts to Vietnam in 2024, after Cambodia. However, from January to August 2024, the total import volume from this country decreased significantly, reaching only 404,781.71 tons, down 34.46% compared to the same period in 2023. The import turnover from Côte d’Ivoire also decreased correspondingly, reaching 456,557,609.94 USD, down 33.31% compared to last year. This could be due to factors such as price, product quality, or competition from other markets.

• May: The import volume reached 83,922.33 tons, the highest in the year, but still decreased by 51.41% compared to the same period in 2023.
• July: The import volume decreased sharply to 9,635.15 tons, down 87.29% compared to the previous year, with turnover reaching 9,316,767.41 USD, down 87.55%.

3.2 Cambodia Cambodia became the largest supplier of raw cashew nuts to Vietnam in 2024, with a total import volume of 762,075.31 tons, an increase of 25.46% compared to the previous year. The import turnover from Cambodia also increased significantly, reaching 983,925,819.57 USD, up 20.44% compared to the same period in 2023. This shows that Cambodia has significantly improved its supply capacity and maintained its position as the largest supplier.

• March: The import volume reached 118,032.85 tons, the highest in the year, up 67.63% compared to the same period in 2023.
• August: The import volume reached 134,763.13 tons, up 26.46% compared to last year, with turnover reaching 183,974,570.93 USD, up 22.12%.

Analysis of Data and Figures on Average Raw Cashew Nut Import Prices from Markets in 2024

Overview

The data and charts provide detailed information on the fluctuation of average raw cashew nut import prices from major markets (Côte d’Ivoire/IVC, Cambodia, and other countries) in 2024. The data is presented monthly, allowing us to compare and observe price trends over time.

Detailed Analysis

General trend:

• Côte d’Ivoire/IVC: Import prices tended to increase from the beginning of the year to the end of the year, with significant growth in the later months. However, compared to the same period in 2023, prices showed complex fluctuations, sometimes rising, sometimes falling.
• Cambodia: Import prices also tended to increase, especially in the second half of the year. Compared to the same period in 2023, prices showed stable growth.
• Other countries: Import prices fluctuated more complexly, with no clear upward or downward trend. Compared to the same period in 2023, prices tended to decrease slightly.

Comparison between markets:

• Prices: On average, import prices from Cambodia were the highest, followed by other countries, and finally Côte d’Ivoire/IVC.
• Fluctuations: Import prices from Cambodia fluctuated the most, while prices from Côte d’Ivoire/IVC were relatively more stable.

Growth rate compared to the same period in 2023:

• Côte d’Ivoire/IVC: The average growth rate was 2.04%, showing slight growth compared to the previous year.
• Cambodia: The average decrease rate was 4.58%, showing that prices tended to decrease slightly compared to the previous year.
• Other countries: The average decrease rate was 0.17%, showing that prices were almost stable compared to the previous year.

General Comments

The data shows that the average import price of raw cashew nuts from markets in 2024 experienced complex fluctuations, influenced by various factors such as:

• Harvest season: The cashew harvest output and quality directly affect prices.
• Market demand: The demand for cashew consumption in the world market, as well as macroeconomic factors such as inflation, exchange rates, etc., all impact prices.
• National policies: Export and import policies, tariffs, etc., of producing and consuming countries also affect prices.