News - Mar 21, 2023

12th International Cashew Conference in Vietnam

Since 2022, the cashew sector is facing many difficulties and challenges due to the bear market. The association of cashew nut producers in Vietnam (VINACAS) therefore invited 350 actors from the sector to discuss it

This conference organized by VINACAS from February 26 to 28, 2023, in Ho-Chi-Minh is one of the important events in the sector to discuss the issues, bringing together exporters, brokers, processors, governments, producers' associations, private companies and NGOs.

N'kâlo was invited this year to present the cashew nut market report for the year 2022 and the market outlook for 2023.

The conference room

The market balance sheet in 2022 is as follows:

  • RCN stock still available in Vietnam at the end of 2021
  • Low production in Vietnam, India and Cambodia
  • Strong competition for raw cashew nuts in West Africa
  • The processing sector in crisis in Vietnam and Africa
  • The price of almonds has neither increased nor decreased even though production has slightly decreased and even though world consumption has slightly increased

Market outlook for 2023:

  • A decrease in RCN price is possible only if India does not buy aggressively this year
  • An increase in the price of kernels is likely possible in the medium term as the supply of kernels is reduced and stocks in consumer countries are not high
  • Or both at the same time: it is also possible!

The actors present at the Conference all hope for a drop in the price of RCN, the situation among Vietnamese processors being always complicated because of the difficulty of borrowing from the banks. They estimate a 30% decrease in processing in Vietnam for this year.

The presentation is available here.

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