Over the years, the Vietnamese cashew industry has maintained its leading position in the world in exporting cashew nuts for many consecutive years, while affirming the prestige of its brand in the international market. Vietnamese cashew nuts are now present on the shelves of over 90 countries and territories around the world, with export turnover growing steadily over the years.

In addition to domestic production, our country is also spending a large amount of money on cashew imports to maintain its position as the world's top exporter. According to preliminary statistics from the General Department of Customs, Vietnam's cashew imports in November reached more than 84 thousand tons with a value of more than 139 million USD, down 40.1% in volume and 38.6% in value compared to the previous month.

In the first 11 months of the year, the cumulative amount of cashew nuts imported to Vietnam exceeded 2.3 million tons, worth more than 3 billion USD, down 10.2% in volume and 1.3% in value compared to the same period in 2023.

In terms of market, Cambodia is becoming the largest supplier with more than 818 thousand tons, worth more than 1.06 billion USD, up 34% in volume and 28% in value. The average price reached 1,302 USD/ton, down 4% compared to the same period in 2023. The country's cashew industry has grown rapidly in recent years and has become the largest supplier to Vietnam.

Specifically, neighboring Vietnam has 435,733 hectares of cashew trees with an output of 508,283 tons as of 2022. Also in 2022, Cambodia exported 471,520 tons of raw cashew nuts and earned more than 1.07 billion USD. Of which, up to 98.5% of Cambodia's cashew exports were sold to Vietnam.

In addition to Cambodia, our country also imports from many other African markets. The second largest supplier is Ivory Coast with more than 579 thousand tons, worth more than 719 million USD, down 32% in volume and 20% in value. The price increased sharply by 20% over the same period, reaching an average of 1,258 USD/ton.

Ghana was the third largest supplier with over 268 thousand tons, worth over 307 million USD, up 8.3% in volume and 16% in value. The average price was 1,143 USD/ton, up 7%.

According to forecasts, the global cashew market will grow by an average of 4.6% in the period 2022 - 2027. The trend of preferring vegan and plant-based diets has increased the demand for nuts and nut-based foods, including cashews... This will be a good opportunity for the Vietnamese cashew industry to accelerate further in the coming time.

Source: Vinacas