Vietnam is the world leader in cashew nut exports

Continuing to Confirm the Position as a Cashew Export Powerhouse

In recent years, Vietnam's cashew industry has not only maintained its position as the world leader in cashew kernel exports for many consecutive years but has also strengthened the reputation of its brand in international markets. As a leading cashew export power, Vietnam has even established its voice in meetings to set global export prices. Vietnamese cashew kernels are now available on the shelves of more than 90 countries and territories worldwide, with steady growth in export turnover year after year.

According to data from the General Statistics Office, in 2023, Vietnam exported 644,120 tons of cashew nuts, earning over 3.64 billion USD. The Vietnamese cashew industry continues to maintain its number one position in the world for cashew kernel exports for nearly two decades. In the first seven months of 2024, Vietnam's cashew export turnover reached 424,000 tons, valued at 2.37 billion USD, up 26.4% in volume and 22.1% in value compared to the same period in 2023. In July 2024, the average export price of Vietnamese cashews continued to rise, reaching 6,168 USD per ton, an increase of 2.7% compared to June 2024 and up 10.8% compared to July 2023. As a result, in July 2024, Vietnam exported 70,000 tons with a turnover of 428 million USD, up 27.7% in volume but up 40.4% in value. 
 

Leading the World in Cashew Exports but Vietnam Needs to Increase Imports of Raw Cashews

In terms of markets, in July 2024, Vietnam increased its cashew exports to most traditional and potential markets, except for Germany and Australia. Notably, Vietnam's cashew exports to the United Arab Emirates saw triple-digit growth in both volume and value, with increases of 102.1% and 149.0%, respectively. In the first seven months of 2024, Vietnam's cashew exports to both traditional and potential markets showed positive growth compared to the same period last year. Among them, exports to 9 out of 10 traditional markets recorded double-digit growth, such as the US, China, Saudi Arabia, the UK, and others.

One of the advantages helping to increase the position of Vietnam's cashew industry is its advanced processing technology, produced by Vietnamese people. Currently, the cashew industry has about 500 processing enterprises, with a processing capacity of approximately 4 million tons of raw cashews per year.