Export and Import Data for Raw Cashew Nuts and Cashew Kernels for July 2024

July 2024 has shown significant figures regarding the export and import of raw cashew nuts and cashew kernels, highlighting notable changes in quantity and value. Here is a detailed look at the past month’s export and import statistics for cashew products.

1. Import of Raw Cashew Nuts

In July 2024, the total import volume of raw cashew nuts reached 298,616.58 tons, with a total value of 348,145,807.33 USD. This figure reflects a stable demand from international markets. The main import markets for raw cashew nuts are:

Cote d’Ivoire: 118,711.26 tons, accounting for 39.75% of total imports, valued at 136,263,667.42 USD.
Ghana: 61,088.50 tons, making up 20.46% of total imports, valued at 71,598,288.21 USD.
Nigeria: 58,463.43 tons, representing 19.58% of total imports, valued at 68,666,711.77 USD.
Burkina Faso: 18,876.08 tons, constituting 6.32% of total imports, valued at 19,831,555.36 USD.
Togo: 14,951.43 tons, accounting for 5.01% of total imports, valued at 18,142,602.56 USD.

These figures indicate that Cote d’Ivoire, Ghana, and Nigeria remain key suppliers of raw cashew nuts, maintaining their significant roles in the global supply chain.

2. Export of Cashew Kernels

For cashew kernels, the total export volume in July 2024 was 751,676.81 tons, totaling 967,532,648.99 USD. The primary export markets include:

Cambodia: 7,404.22 tons, valued at 11,095,130.75 USD.

In addition to the primary market, the total volume of cashew kernels exported to other markets in July was 68,036.28 tons, with a value of 74,689,235.43 USD. However, compared to July 2023, this represents a 14.92% decrease in volume and a 25.06% decrease in value. This decline may reflect changes in global demand and pricing conditions.

Observations and Recommendations

Observations

Stability in Imports: The stable import volume of raw cashew nuts from key markets indicates sustained demand. Cote d’Ivoire, Ghana, and Nigeria continue to play crucial roles as major suppliers.
Decrease in Exports: Although the total export volume of cashew kernels remains high, the decrease in both volume and value compared to the previous year suggests fluctuations in global demand and potential challenges in the international cashew market.

Recommendations

Market Monitoring: Businesses in the cashew industry should closely monitor global market trends and fluctuations. Timely information can help adjust export and import strategies to optimize profitability.
Market Diversification: To mitigate risks from declines in current markets, businesses should consider expanding into new markets and strengthening their presence in potential growth regions.
Product Quality Enhancement: Investing in improving product quality and production processes can enhance competitiveness in the international market and add value to cashew products.
Strengthening Customer Relations: Maintaining and developing strong relationships with existing partners and customers is crucial for sustaining revenue stability and expanding business opportunities.

The export and import data for raw cashew nuts and cashew kernels in July 2024 show stability in demand for raw cashew nuts from key markets, while cashew kernel exports have experienced a decline. This situation may result from various factors, including price volatility and changes in global demand. Industry players need to stay vigilant to market changes and adjust their strategies accordingly to maintain business effectiveness.

Contact Information:

CPT CORP

HCM office Address: 191/6B Le Van Viet Street, Tang Nhon Phu A Ward, Thu Duc City, Ho Chi Minh City, Viet Nam

Factory Address: Nguyen Thai Hoc Street, Phuoc Tan Hamlet, Binh Tan Commune, Phu Rieng District, Binh Phuoc Province, Vietnam

Email: sales@cptcorp.vn

Website: https://cptcorp.vn/

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