After a sharp decline in the first month of 2023, Vietnam's cashew industry has had 4 consecutive months of good growth in export turnover, mainly due to an increase in volume and a rebound in prices.
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According to the General Statistics Office, Vietnam's cashew exports in May 2023 reached 55,000 tons with a turnover of 330 million USD, up 7% in volume and 8.1% in value compared to April 2023. May 2022 also increased by 9.9% and 8.1% respectively.
Generally, in the first 5 months of 2023, Vietnam's cashew exports are estimated at 217,000 tons, worth 1.28 billion USD, up 7% in volume and 5.4% in value over the same period last year.
In May 2023, the average export price of Vietnam's cashew nuts was estimated at $5,805/ton, down 2.3% compared to April 2023 and down 4.9% compared to May 2022. Generally, in the first 5 months of 2023, the average export price of Vietnam's cashew nuts is estimated at 5,850 USD/ton, down 2.4% over the same period in 2022.
From the beginning of the year until now, except for the first month, the remaining 4 months of the cashew industry have continuously recorded positive growth in export value, mainly due to the rebound in export volume and price.
In January 2023, both the quantity and the export price of cashew nuts decreased by -32% and -6.3% respectively over the same period in 2022, leading to a decrease of 53% in turnover.
Entering February, although the price still recorded a decrease (-0.15% over the same period last year), the volume increased by 35%. In the following months, cashew nut exports recorded an increase of 24% in March, 5.5% in April and 9.9%% in May respectively. Export prices in March and April also increased slightly, respectively. .2% and 1.09%.
The increase in quantity and price has greatly contributed to the growth of Vietnam's cashew nut export turnover for many consecutive months.
Le Hong Nhung
Source: Mekong Asean Magazine/ New Newspaper
