The cashew nut industry has seen significant developments recently, driven by global demand and supply challenges.
In Vietnam, cashew nut exports have surged, increasing by around 15% in July 2024 compared to the previous month. This growth is fueled by strong demand from key markets such as the United States and the European Union. Despite this positive trend, the global market faces rising cashew prices due to supply shortages caused by adverse weather conditions in several major producing regions. These shortages have led to increased competition for available supply, impacting both processors and exporters(
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Additionally, the European Union has reported record-high cashew imports, further intensifying the pressure on global supply chains. As prices continue to fluctuate, businesses within the cashew industry are advised to closely monitor market conditions and adjust their strategies accordingly(
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Overall, the cashew industry is experiencing both opportunities and challenges as it navigates these market dynamics.