Import Statistics for Raw Cashews & Cashew Kernels – September 2024

The import of raw cashews and kernels in September 2024 has shown significant developments, reflecting the general trends in Vietnam’s cashew import market for the year. Below is a detailed analysis of the import data for raw and processed cashew kernels from major markets, alongside insights into the key factors influencing these trends.

Overview of Raw Cashew Imports

General Decline

Compared to the same period last year, the import of raw cashews in September 2024 experienced a decline across various metrics, including import volume, import value, and average import prices. Specifically:

• Total import volume: 2,141,426.36 tons, down by 11.68% year-over-year.
• Total import value: 2,600,670,141.98 USD, an increase of 7.28%.
• Average import price: 1,211.77 USD/ton, a rise of 3.13%.

Seasonal Fluctuations and Import Prices

The import volume of raw cashews typically peaks from March to August and declines in the remaining months, following the cyclical nature of production and market demand. However, average import prices tend to rise from the end of the year into the following year.

Interestingly, despite the drop in import volume, the total import value increased, indicating that the rise in average prices compensated for the reduced quantity. Several factors may explain this:

• Seasonality: Decreased production from key exporting countries.
• Market dynamics: Increased demand from global cashew consumers coupled with price fluctuations for other nuts.
• Policy impact: Customs regulations and trade support from the government and international organizations.

Overview of Cashew Kernel Imports

Steady Growth

Cashew kernel imports in September 2024 showed stable growth in both volume and value. Compared to the same period last year:

• Total import volume: 101,847.13 tons, up by 28.74%.
• Total import value: 602,482,154.72 USD, a rise of 36.67%.
• Average import price: 5,862.77 USD/ton, an increase of 4.71%.

This growth reflects the consistently high demand for processed cashew kernels, particularly from domestic processors. Although average import prices rose slightly, the market for cashew kernels remains relatively stable.

Factors Driving Growth

• Production demand: Domestic processing companies have ramped up imports to meet both local and international market demands.
• Stable global prices: Global cashew prices have remained stable or slightly increased, enabling companies to maintain profitability despite higher import volumes.
• Import support policies: Favorable tax regulations and government support have contributed to the steady supply chain.

Analysis of Imports from Côte d’Ivoire and Cambodia

Côte d’Ivoire

Côte d’Ivoire remains a crucial supplier of raw cashews to Vietnam. However, in September 2024, both the volume and value of imports from Côte d’Ivoire dropped significantly compared to the previous year. This fluctuation can be attributed to:

• Supply shortages: Possibly due to weather conditions or production disruptions in the country.
• External factors: Côte d’Ivoire is often affected by geopolitical and economic instability.

Cambodia

Cambodia continues to demonstrate stable growth in cashew exports to Vietnam, with both volume and value increasing towards the end of the year. Cambodia is one of Vietnam’s top five cashew suppliers.

• Steady growth: Imports from Cambodia have risen in both volume and value.
• Seasonal dynamics: While affected by seasonality, the fluctuations are less pronounced compared to Côte d’Ivoire.

Average Import Price Analysis from Major Markets

In 2024, the average import prices from key cashew markets fluctuated but showed a general upward trend compared to the previous year. Specifically:

• Côte d’Ivoire: Prices increased significantly towards the year’s end, reflecting higher demand from global consumers.
• Cambodia: In contrast, prices from Cambodia showed a slight decline, possibly due to a more abundant supply and price competition among suppliers.

Key Takeaways for Importers

The cashew import market in September 2024 experienced significant fluctuations. Importers should consider the following:

• Diversify suppliers: To minimize risks, importers should explore different sources for better pricing and quality options.
• Monitor market trends closely: Staying updated with market trends can help importers make more informed decisions.
• Build long-term relationships with suppliers: This ensures a stable supply chain and better price negotiations over the long term.

The import data for cashews in September 2024 highlights notable changes in both quantity and value. To navigate market fluctuations, businesses need to adopt flexible import strategies, diversify sources, and keep a close watch on global price movements. While the cashew market continues to offer potential, it demands careful planning and proactive measures from businesses.

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