Cashew nut price: import and export reference list and 7 factors explaining fluctuation.

by Farm Andy
cashew nut price: reference list and factors accounted for the fluctuation.

Cashew nut price (or giá hạt điều) in 2021 varies between 1 to 25 USD/kg. How come there is a huge gap in the price? The answer lies in the types of cashew nut you are looking for. Also, factors such as middleman, origin,… affect cashew price. Let’s take a look with Andy!

Cashew nut price list in 2021.

cashew nut price in vietnam ranges from 1 to 25 USD

cashew nut price in vietnam ranges from 1 to 25 USD/kg

Raw cashew nut price per kg in Vietnam

The table below shows the price of raw cashew nut per kg in Bình Phước over the last few years.

TIME PRICE RANGE of BÌNH PHƯỚC RAW CASHEW
May 2011 23.000 Vietnam Dong/kg (appx 1 USD/kg)
March 2013 30.000 Vietnam Dong/kg (appx 1,3 USD/kg)
November 2016 52.000 Vietnam Dong/kg (appx 2,2 USD/kg)
January 2017 52.000 Vietnam Dong/kg (appx 2,2 USD/kg)
September 2018 37.000 Vietnam Dong/kg (appx 1,6 USD/kg)
October 2018 40.000 Vietnam Dong/kg (appx 1,7 USD/kg)
December 2020 30.000 Vietnam Dong/kg (appx 1,3 USD/kg)
January 2021 33.000 Vietnam Dong/kg (appx 1,4 USD/kg)
February 2021 33.500 Vietnam Dong/kg (appx 1,4 USD/kg)
April 2021 32.000 Vietnam Dong/kg (appx 1,39 USD/kg)

Raw cashew nut price in Đồng Nai shown in the table below.

TIME PRICE RANGE of RAW CASHEW IN ĐỒNG NAI PROVINCE
May 2011 around 25.000 Vietnam Dong/kg (appx 1,1 USD/kg)
March 2013 30.000 Vietnam Dong/kg (appx 1,3 USD/kg)
Nov 2016 55.000 to 60.000 Vietnam Dong/kg (appx 2,6 USD/kg)
January 2017 55.000 to 60.000 Vietnam Dong/kg (appx 2,6 USD/kg)
December 2017 around 43.000 Vietnam Dong/kg (appx 1,9 USD/kg)
Feb 2018 around 42.000 Vietnam Dong/kg (appx 1,8 USD/kg)
Sep 2018 around 47.000 Vietnam Dong/kg (appx 2 USD/kg)
average cashew nut price in 2019 around 32.000 Vietnam Dong/kg (appx 1,4 USD/kg)
March 2020 around 26.000 Vietnam Dong/kg (appx 1,13 USD/kg)
July 2020 around 26.000 Vietnam Dong/kg (appx 1,13 USD/kg)
January 2021 29.000 Vietnam Dong/kg (appx 1,26USD/kg)
April 2021 29.000 Vietnam Dong/kg (appx 1,26 USD/kg)

Table: Price range of raw cashew nut in other areas around Vietnam.

TIME PRICE RANGE of VIETNAM RAW CASHEW 
In Bà Rịa – Vũng Tàu (2018) around 38.000 Vietnam Dong/kg (appx 1,65 USD/kg)
In Bà Rịa – Vũng Tàu (2019) around 32.000 Vietnam Dong/kg (appx 1,39 USD/kg)
In Bà Rịa – Vũng Tàu (March 2020) around 27.000 Vietnam Dong/kg (appx 1,17 USD/kg)
In Đắk Lắk and Lâm Đồng (May 2011) around 25.000 Vietnam Dong/kg (appx 1,08 USD/kg)
In Kon Tum (May 2011) around 27.000 Vietnam Dong/kg (appx 1,17 USD/kg)

Raw cashew nut (RCN) imported from African countries.

raw cashew nut price imported oversea in 2021 is around 1300 USD/48 LBs.

raw cashew nut price imported oversea in 2021 is around 1300 USD/48 LBs.

ORIGIN (TIME) PRICE RANGE
Farmgate price in Nigeria (2017) 1527 USD/MT
Farmgate price in Nigeria (2018) 1944 USD/MT.
FOB price in Nigeria (2018) 1950 USD/MT.
Average price of W180 with moisture below 10% in Nigeria (2018) 1120 USD/48 LBs
FOB price in Guinea Bissau (2018) 1700 – 1900 USD/MT
FOB price in Benin (2018) 2000 – 2100 USD/MT
FOB price in Coast D’ivoire (2018) 1700 – 1800 USD/MT
FOB price in Coast D’ivoire (2021) 1337,5 USD/tonnes
IVC with out turn around 48% 1300 – 1350 USD/tonnes
Cambodian raw cashew nut (2021) 1580 USD/tonnes
Ogbomosho W180 cashew with moisture below 10% (2021) 1220 USD/48 LBs

Price of raw cashew kernel varies depending on its size, color and number counted in 1 pound.

the cashew kernel price depending on the standard of importing countries.

the cashew kernel price depending on the standard of importing countries.

Reference price list of different cashew kernel type from 2018 to 2021.

TYPE OF RAW CASHEW KERNELS (TIME) PRICE RANGE
w320 (2018) 9956 USD/tonne
W240 in big factories (May 2020) from 3,3 to 3,4 USD/pound
W240 in small factories (May 2020) from 3,1 to 3,15 USD/pound
W320 in big factories (May 2020) from 2,95 to 3,05 USD/pound
w320 in small factories (May 2020) from 2,75 to 2,8 USD/pound
W240 (June 2020) from 3,1 to 3,35 USD/pound
W320 (June 2020) from 2,6 to 2,85 USD/pound
W450 (June 2020) from 2,4 to 2,6 USD/pound
W320 (September 2020) 6128 to 7054 USD/tonne
W320 (September 2020) 2,78 to 3,2 USD/tonne
W320 (over the first 5 months of 2021) 5862 USD/tonne
W180 (over the first 5 months of 2021) 8111 USD/tonne
W320 (June 2021) 7,5 USD/kg
W240 (June 2021) 8,3 USD/kg
W180 (June 2021) 9 USD/kg

Average export price of cashew kernel from 2018 to 2020.

TIME AVERAGE EXPORT CASHEW NUT PRICE
September 2018 8400 USD/tonne
December 2018 9190 USD/tonne
Whole year 2018 9000 USD/tonne
March 2019 7800 USD/tonne
Quarter 1, 2019 8043 USD/tonne
April 2019 7601 USD/tonne
First 4 months of 2019 7910 USD/tonne
June 2019 7024 USD/tonne
First 6 months of 2019 7613 USD/tonne
October 2019 6896 USD/tonne
First 10 months of 2019 7276 USD/tonne
Feb 2020 7101 USD/tonne
First 3 months of 2020 7044 USD/tonne
First 5 months of 2020 6721 USD/tonne
First 7 months of 2020 5805 USD/tonne
First 8 months of 2020 6392 USD/tonne
First 3 quarters of 2020 6333 USD/tonne
First 10 months of 2020 6290 USD/tonne
Nov 2020 6207 USD/tonne
Whole year 2020 6245 USD/tonne

Cashew kernel price per kg in Vietnam domestic market

In ecommerce platforms, cashew nut price ranges from 160.000/kg to 220.000/kg.

In ecommerce platforms, cashew nut price ranges from 160.000/kg to 220.000/kg.

Price list of cashew kernel sold in ecommerce platforms.

ECOMMERCE PLATFORM PRICE RANGE
Shopee from 80.000 to 250.000 vietnam dong/500 gram bag
Sendo from 70.000 to 150.000 vietnam dong/500 gram bag
Lazada from 75.000 to 180.000 vietnam dong/500 gram bag
Tiki around 220.000 vietnam dong/1 kilogram bag
Chotot.com around 220.000 vietnam dong/1 kilogram bag if buying below 100 kg.
Chotot.com around 115.000 vietnam dong/1 kilogram bag if buying over 100 kg.

Retail price of raw cashew kernel from Andy’s farm

TYPES OF RAW CASHEW KERNELS RETAIL PRICE
White Split 240.000 vietnam dong/kg (appx
White Whole 240 320.000 vietnam dong/kg (appx
White Whole 320 300.000 vietnam dong/kg (appx
Baby Bits Granula 80.000 vietnam dong/kg (appx

If you guys are interest in Bình Phước cashew, feel free to have a look at our online store. Any purchasing are contributed to Vietnam cashew farmers and agriculture development. 

Price of finished cashew products.

cashew nut price 6

Finished cashew products range from salt roasted cashew nuts to chilli lemongrass roasted ones

Table below shows the retail price of finished cashew product popular in Vietnam.

TYPES OF FINISHED CASHEW NUT PRICE RANGE
Salt roasted cashew nut without testa skin above 400.000 vietnam dong/kg
Salt roasted cashew nut with testa skin from 250.000 to 350.000 vietnam dong/kg
Salt roasted cashew from Bình Phước 350.000 to 700.000 vietnam dong/kg
Salt roasted W180 cashew 350.000 to 500.000 vietnam dong/kg
Butter roasted cashew nut above 420.000 vietnam dong/kg
Wasabi flavour cashew nut 400.000 to 750.000 vietnam dong/kg
Honey cashew nut 450.000 to 900.000 vietnam dong/kg
Chocolate flavour cashew nut 350.000 to 380.000 vietnam dong/kg
Chilli roasted cashew nut 300.000 to 380.000 vietnam dong/kg
Cashew milk around 160.000 vietnam dong/236 ml bottle.
Cashew kernel oil around 630.000 vietnam dong/300 ml bottle.
Cashew butter around 95.000 vietnam dong/150 gram box

If you guys are interested in wholesales price of finished cashew nut. Here is the reference list.

TYPES OF FINSHED CASHEW NUTS WHOLESALES PRICE RANGE
Fried cashew kernels around 200.000 vietnam dong/kg
Coconut coated cashew kernels from 170.000 to 180.000 vietnam dong/kg
Wasabi coated cashew kernels around 220.000 vietnam dong/kg
Honey cashew around 230.000 vietnam dong/kg
Chilli roasted cashew kernels around 220.000 vietnam dong/kg
Chilli, lemongrass roasted cashew nut above 215.000 vietnam dong/kg
Salt roasted cashew nut with testa from 170.000 to 190.000 vietnam dong/kg
Salt roasted w180 cashew nut from 160.000 to 180.000 vietnam dong/kg
Chocolate cashew around 180.000 vietnam dong/kg

7 factors affect cashew nut price.

There are many factors affecting cashew nut price. In this post I will try to gather up some main ones. So here are 7 most import elements that shape cashew nut price.

Types of cashew nuts

salt roasted cashew with testa skin

salt roasted cashew with testa skin

The popular exporting cashews are usually live unprocessed kernel. These kernels are classified based on their color, size as well as number counted in 1 pound. Usually the price of scorched whole 320 cashew nut is lower than of white whole 240 (W240). The bigger a cashew nut is, the higher its price is.

While oversea markets are familiar with raw cashew kernel, the domestic consumption is still at the beginning. This leads to an underprice when evaluating cashew kernel. Salt-roasted cashew with testa skin is the most popular product in domestic market. The demand rises up before Lunar New Year leads to a change in nut price.

Over the last few year finished products such as wasabi cashew, chocolate cashew has drew Vietnamese consumer attention. These products are a combined of cashew sweet taste and modern technology.

The orgin of cashew nuts

Quality as well as nutritional compostion are significantly affected by the origin of cashew nut. Cashew nut quality varies from one place to the other. Factors like soil, rainy season,… also determine cashew quality.

In Vietnam, Bình Phước cashew is known as the best cashew. Areas like Đồng Phú, Phú Riềng, Bù Đăng, Bù Đốp have weather and soil which are suitable for cashew tree development.

The middleman

Number of middlemen decide how high raw cashew nut price in Vietnam is. In Bình Phước middlemen have a strong connection with farmers as well as factories. From a positive side, they can collect a large quantity of raw cashew nut whenever the factories need. But in the negative side middlemen push price to an unrealistic level. Furthermore, middlemen push cashew farmer to a situation of “no choice but to sell to them”.

Raw cashew nut price in Vietnam depends on whether you are on or off-season

Normally cashew nut season in Vietnam start at the end of January and ends in June. During the season the price could go up a little bit due to high demand for fresh cashew nut. Once the fresh raw cashew nut quantity sold out, the price of left-over usually goes down.

However the weather also makes a difference in cashew quantity harvested. As a consequence, it affects the raw cashew nut price.

Market demand fluctuation

During the COVID pandemic the demand of nut snack in the US and Western countries goes down. The reason is due to lock down and all transportation is delayed. The demand for cashew used in airlines, hotels and restaurant also got stuck. As a consequence, cashew nut price exported to these markets declines.

The cashew supply source in countries like Vietnam or India.

Vietnam has a strong reputation as the world’s largest cashew kernel producer and exporter. According to Vinacas, Vietnam has exported 450.000 tonnes of cashew kernel in 2020 which equivalent to 3,2 billion USD. The following countries are India and Ivory Coast. Due to the large market share, any changes in the Vietnam supply would affect cashew market throughout the world. Hence, leads to the raw cashew nut price fluctuation.

Cashew nut processing

Raw cashew nuts need to go through 13 steps of processing to become cashew kernels. The good quality cashew nut requires a lot of hard work and attention. At each stage, different type of machines are in charge. Due to quality of machine and techniques vary from factories to factories, the quality of cashew kernel may change a lot. Accordingly, cashew nut price is also different between factories.

Other possible elements includes:

  • Distribution channels: In domestic market how distributor network set up decides cashew nut price. Online channel may have a lower price than offline one. However for online-buying product you may need to pay extra for shipping. Other problem related to return the goods.
  • Quality standards required: For example cashew exporting to the US must follow AFI standard while to the UK need to comply with BRC standard.
  • Packaging: eyed-catching product decides whether they will pick your product or not.

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