On the import side, we noticed that Vietnam imported 203,427 mt of RCN in June 2020 which is 14,29% less than June 2019. The total for the year 2020 thus far stands at 634,609 mt, which is 12,11% less than in the same period Jan-June of 2019.

Whereas the imports from IVC during June 2020 were the biggest so far this year at 84,845 mt, the total out of IVC for this year is significantly lower than last year, namely 42,22% lower. This is consistent with the stories we hear out of IVC where supposedly still 350,000 mt is stored in warehouses in Abidjan which, according to rumors, the government of IVC only wants to sell after the general elections of October 31st of this year. If these rumors are true, there are a couple of things to take into consideration:

1. Shipment of this IVC RCN will coincide with shipments of new crop out of Indonesia as well as Tanzania which usually take place during November/December onwards;
2. Outturn of this IVC RCN is already rumored to be low, between 38-44, and the quality will not get any better if these are storied for a further 3-4 months before being shipped to Vietnam. 

Last month, we reported for the first time that Vietnam also imported shelled kernels and this month Vietnam added 4,392 mt of these, bringing the total to 26,959 mt of shelled kernels for 2020. This number is equivalent to approximately 115,000 mt of RCN. As mentioned previously, these are, for example, kernels produced in Ivory Coast, however, these still need to be peeled.