International Cashew Export-Import Market Forecast for November 2024

In November 2024, the international cashew export-import market is expected to experience various fluctuations due to factors such as consumer demand, raw material prices, and supply chain shifts. Here are some key trends and factors likely to impact the cashew market in November.

1. High Demand from Major Markets

Countries such as the United States, Europe, and China typically see strong cashew demand toward the year’s end, preparing for major holidays like Thanksgiving, Christmas, and Lunar New Year. Retailers and distributors in these markets often increase their cashew reserves to meet the high demand during the festive season. This stable demand could even drive cashew prices slightly higher.

2. Raw Cashew Price Fluctuations

Raw cashew prices are likely to fluctuate based on supply from major African producers like Côte d’Ivoire and Nigeria. Harvesting in these regions will significantly impact global pricing. If there is a high yield, raw cashew prices may stabilize or decline slightly. However, if adverse weather or rising production costs occur, raw cashew prices could increase, pressuring processors in Vietnam and India.

3. Impact of Shipping Costs and Supply Chain Challenges

Shipping costs and international supply chain issues are crucial factors affecting the cashew market. In the year’s final months, transportation and logistics companies often experience high demand across multiple industries, which could cause delays in cashew shipments. Exporters should plan proactively to avoid supply chain disruptions.

4. Growing Demand for Organic and Sustainable Products

Organic and sustainable cashews are increasingly popular among international consumers, particularly in Europe and North America. Importers in these markets are favoring organic cashews that align with eco-friendly consumer preferences. Vietnamese companies like SVC Cashew can leverage this trend to expand their market share by promoting organic and sustainably certified products.

5. Opportunities for Vietnam in Processed Cashew Exports

With a strong processing capacity and product quality, Vietnam remains one of the world’s largest cashew exporters. Value-added products, such as salted and flavored cashews, are highly sought after in premium markets, presenting significant opportunities for Vietnamese businesses in November 2024. Expanding value-added products not only boosts export value but also reduces dependency on raw cashew prices.

Conclusion

The international cashew market in November 2024 will face various challenges from price fluctuations, shipping costs, and high standards for sustainable production. However, robust demand from major markets and growing organic product trends provide valuable opportunities for Vietnamese businesses, particularly SVC Cashew. With the right strategy, Vietnamese exporters can capitalize on these opportunities to expand their market presence, enhance export value, and solidify their global position.

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SVC INTERNATIONAL JSC
Email: thanh@svc.vn
Phone: 090 943 24 77
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