Cashew Prices in Vietnam

In 2024, cashew prices in Vietnam continue to fluctuate, influenced by various domestic and international factors. Currently, Vietnam remains one of the largest cashew exporters in the world, but the market faces many challenges regarding supply, demand, and price volatility.

1. Supply and Demand Situation

The supply of cashews in Vietnam this year is stable, but prices are significantly affected by production costs and exchange rate fluctuations. With increasing demand for cashews in international markets, particularly in major markets such as the USA, Europe, and China, cashew prices have shown an upward trend compared to the previous year.

2. Impact from the International Market

Cashew prices in Vietnam are heavily influenced by price fluctuations in the international market. Factors such as transportation costs, global inflation, and soaring demand for cashews in major consuming countries have driven up Vietnam’s export prices. According to recent reports, the price of WW320 cashew kernels, one of the most popular varieties, has increased by around 5-7% compared to the same period last year.

3. Cashew Prices in Major Growing Regions

In major cashew-growing regions such as Binh Phuoc, Gia Lai, and Dong Nai, the purchasing price for raw cashew nuts ranges from 28,000 to 35,000 VND/kg, depending on quality. Cashew producers have noted that these prices may rise slightly in the coming months due to high demand from exporters.

4. Price Outlook for the Future

According to economic experts, cashew prices are expected to remain stable at high levels in the near future, driven by continued strong demand in the global market. However, fluctuations in transportation costs and competition from other cashew-exporting countries will also impact long-term prices.

Conclusion: Cashew prices in Vietnam are currently experiencing a slight upward trend, but they remain dependent on factors such as supply and demand, production costs, and international market fluctuations. Cashew producers and exporters need to keep a close watch on these trends to develop appropriate business strategies.

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