According to the Agricultural Products Processing and Market Development Bureau of the Ministry of Agriculture and Rural Development, cashew nut prices continued to decline in March. However, cashew nut prices are expected to rebound in the second quarter, up from 2017 and 2018.

Since the beginning of the year, cashew exports have fallen sharply due to the fall in cashew nut prices. In February, cashew exports reached 12,000 tons, earning USD 98 million. As a result, cashew exports and exports rose to 44,000 tons and USD 365 million in February, down 3.1% and 22.3%, respectively. In January, the export price of cashew nuts reached 8,136 USD per ton, down 21% year on year.

at present, the United States, China and the Netherlands are still Vietnams three major cashew export markets, accounting for 33%, 15.6% and 10.4% of Vietnam’s total cashew exports, respectively.

According to the forecast of the International Nut and Dried Fruit Committee, demand for cashew nuts will soar and remain stable until the end of this year from April this year. Cashew nut prices are expected to be higher in 2019 than in 2017 and 2018. Experts predict that 2019 will continue to be a year of parallel challenges and opportunities for Vietnams cashew nut industry. Although the cashew nut industry has attracted the attention of the state and has achieved certain success, Vietnam’s cashew nut industry continues to face many difficulties even though the growth rate of production cannot keep pace with the growth rate of processing industry.