Due to the impact of the Covid-19 epidemic, the processing and export of cashew kernels faced many difficulties. However, there are signs that demand has begun to recover.
According to the General Department of Customs, in the first quarter of this year, cashew exports still increased in volume and turnover. Specifically, the amount of cashew kernel exported 54.7 thousand tons, worth US $ 666.9 million, up 19.4% in volume, and 4.4% in value over the same period in 2019.
Especially, in March, when the disease outbreak and spread widely in the main markets of Vietnam's cashew industry, the US and Europe, the cashew exports increased sharply when reaching 43.9 thousand tons, worth $ 309.24 million, up 68.4% in volume and 76% in value compared to February 2020, up 38.3% in volume and up 24.3% in value compared to March 2019.
According to some international cashew experts, when rushing to buy hoarded food to implement social spacing, consumers in many European countries bought cashew nuts along with other foods. Because in their view, every food is essential. Therefore, in many supermarkets, cashews have been bought out.
Many sources said that the warehouse of many European importers has run out. As a result, many European importers are in need of buying cashew nuts for immediate delivery in April and May.
However, recently, a series of cashew processing plants in India had to take a break due to a national blockade to prevent disease, many factories in Vietnam also stopped operating because of the social gap, causing for limited supply. Therefore, cashew kernel prices are on an upward trend.
In the world market, the demand for cashew nuts is increasing again, especially from European customers.
After a quiet period due to the disease, Chinese importers have also begun to return to the market.
However, in the most important market, the US, importers, in general, are still psychologically waiting to see how the disease progresses in this country.
On the other hand, in recent years, cashew consumption in India has decreased due to the impact of the country blockade to prevent disease. India is the largest consumer of cashew in the world, so the reduction in consumption in this country also affects the party to the global consumption of cashew.
Therefore, it is forecast that in the next few weeks, the demand for cashew nuts will recover gradually. A strong recovery in orders may not occur before the second half of May, even before June.
Meanwhile, the raw thing this year is assessed to be quite abundant. The cashew crop in Vietnam and Cambodia is in good season, the output increased highly compared to last year. In West Africa, the harvest is generally good.
As the Covid-19 epidemic is rampant in many African countries, raw cashew exports from this region are heavily affected. The quarantine requirement to prevent an epidemic in Nigeria has slowed down the country's raw cashew exports. The Ivory Coast government restricts access to the capital and the Abidjan port also affects the country's raw cashew exports.
The shortage of empty containers is also affecting more or less raw cashew exports in Africa. Therefore, a large amount of cashew material exists on farms and purchasing agents. The import of raw cashew from Cambodia to Vietnam is also quite slow due to the control of disease at the border gates.
According to the Vietnam Cashew Association (Vinacas), the disease situation will also affect the world cashew market. Especially when the epidemic can cause great economic losses, even causing the economic recession, especially in Western countries.
The main cashew supply market for the Vietnam cashew industry in Africa, and the main cashew consuming markets of Europe and the US are all facing complicated, unpredictable, and dangerous developments of Covid- 19.
Therefore, cashew processing enterprises should consider carefully, not to sign contracts for cashew export with long delivery time, when raw cashew nuts have not yet been purchased, to prevent raw cashew prices from rising again. when the epidemic settled down in Africa.
Raw cashews are in abundance, so businesses need to avoid massively buying raw cashew nuts in Africa, because if they do so, prices will increase, thereby increasing the risk, especially when no export contract. demographic thing.
Businesses need to be very careful, learn and analyze market information of raw and cashew nuts from many sources; Based on the actual situation and ability of the enterprise to make appropriate decisions, avoid risks and losses.
Son Trang
Source: NNVN Newspaper
