Son Tung Limited Company (Vietnam)

Established in 2005 in Binh Phuoc Province, the subject has nearly 20 years of experience in the field of processing and trading cashew nut. Its main products such as cashew kernels, raw cashews and salted roasted cashews. The subject's headquarters is located in Binh Phuoc province, which is considered the "capital" of world cashew nuts, the subject has the advantage of input materials. Its products are mainly exported to China, England, EU, Singapore, USA, Ecuador ...2022 has been a difficult year for Vietnam's cashew industry. Cashew nut exports in 2022 reached 519,782 tons, worth 3.08 billion USD, down 10.3% in volume and 15.1% in value compared to 2021. The main reason leading to the above situation is the Covid-19 epidemic, countries like the US and the EU region are worried about breaking the supply chain, so they have hoarded a large amount of cashew kernels, leading to an oversupply in 2022. Besides, there is China's Zero Covid policy (one of Vietnam's major markets). The above has caused the price of cashew nuts to decrease significantly in the world market. In the first 6 months of 2023, Vietnam exported 279,000 tons of cashew nuts, earning 1.6 billion USD, up nearly 9.5% in volume and nearly 7.7% in value over the same period in 2022. Although there has been an increase in volume compared to the same period in 2022, the price of cashew has still decreased by nearly 2% and is expected to continue to decrease in the near future. The above difficulties have made the target of cashew export turnover of USD 3.8 billion adjusted to USD 3.05 billion. The general difficulties of the Vietnamese cashew industry may negatively affect the subject's business activities in 2023.