In September 2024, Vietnam's cashew exports continued to decrease compared to the previous month, but increased compared to the same period last year; Vietnam's cashew export price averaged at 6,522 USD/ton, the highest level since January 2024.

According to data from the General Department of Customs, in September 2024, Vietnam exported cashew nuts reaching over 57 thousand tons, worth 372.16 million USD, down 11.6% in volume, but up 8.9% in value. Compared to August 2024, compared to September 2023, it increased by 0.6% in volume and 20.2% in value. In the first 9 months of 2024, Vietnam exported cashew nuts reaching 543.5 thousand tons, worth 3.15 billion USD, up 20.1% in volume and 21.7% in value compared to the same period last year.

(Source: Vinacas)

It is forecast that in the last months of the year, cashew exports will increase sharply thanks to cyclical factors and export prices tend to increase.

Vietnam currently holds many of the world's leading export products with a value of up to billions of dollars. In particular, Vietnam's cashew industry continues to maintain the number 1 position in the world for decades.

According to data from the General Department of Customs, in October 2024, Vietnam exported cashew nuts reaching 65.22 thousand tons, worth 424.44 million USD, an increase of 1.3% in volume and an increase of 18.4% in value price compared to October 2023. In the first 10 months of 2024, Vietnam's cashew exports reached 609.23 thousand tons, worth approximately 3.58 billion USD, up 17.9% in volume and 21.4% in value over the same period. last year. Thus, Vietnam's cashew industry has completed its export plan for the whole year 2024 in just 10 months, reached 5,873 USD/ton, up 3.0% over the same period last year.

According to the Ministry of Agriculture and Rural Development, Vietnam's cashew industry continues to maintain the number 1 position in the world in exporting processed cashew kernels for nearly two decades. Vietnamese cashew nuts are currently available on the shelves of over 90 countries and territories around the world, with export turnover growing steadily over the years.

It is likely that this year the cashew industry will achieve a record export figure of over 4.5 billion USD, thanks to stable demand in traditional markets such as the US, EU, and China. These markets all have high consumer demand at the end of the year and traditional festivals.

According to forecasts, the global cashew market will grow by an average of 4.6% in the period 2022-2027, thanks to the trend of veganism and preference for nut foods. Moreover, high demand in emerging markets such as China and other parts of Asia is seeing strong growth due to the expanding middle class and consumers becoming increasingly health-conscious.

Sources: VINACAS