Cashew Market Trends – October 2024
- Stable Demand with Slight Price Fluctuations
- In October 2024, the cashew market continues to experience stable demand from major markets such as the U.S., Europe, and the Middle East. Notably, the demand for organic cashews and products with international certifications has surged, aligning with the growing trends of eco-friendly and healthy consumption.
- However, cashew prices have shown some fluctuations due to rising transportation costs and currency exchange rates. Many export companies, including SVC Cashew, have proactively managed their costs to remain competitive in the global market.
- Focus on Value-Added Products
- The consumption of processed cashew products, such as salted roasted cashews, chocolate-covered cashews, and convenient packaged products, is increasingly popular in premium markets. This presents a significant opportunity for Vietnamese exporters, including SVC, to enhance product value and boost profits.
- Impact of Global Factors
- Global inflation and rising logistics costs remain key factors affecting cashew prices. Supply challenges from other cashew-producing countries like India and Côte d’Ivoire have created opportunities for Vietnamese cashew exports to expand.
- SVC Cashew, with its stable supply chain and high-quality standards, has benefited from the instability of competitors in the region.
- Forecast for the Remaining Months of the Year
- Experts predict that demand for cashews will spike during the holiday season in major consumer markets such as the U.S. and Europe. This is an excellent opportunity for companies to ramp up exports and maximize production output.
Conclusion
In October 2024, the cashew market continues to show stable growth with numerous opportunities for Vietnamese businesses. SVC Cashew can leverage the increasing demand for value-added products and its stable supply chain to solidify its position in the international market.
SVC INTERNATIONAL JSC
Email: thanh@svc.vn
Phone: 090 943 24 77
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