Vietnam's Cashew Exports Surge Over 30% to US and China, Set to Exceed 2023 Target

In the first eight months of 2023, Vietnam experienced significant growth in cashew exports, particularly to the United States (US) and China, with a turnover of USD 2.28 billion. Aug-23 marked a record-breaking month with 60.58 thousand tons exported, valued at USD 333.83 million. The cumulative cashew exports during this period reached nearly 395.6 thousand tons, reflecting a 15.5% increase in volume and an 11.3% rise in value compared to the same period in 2022. The US and China remained the top consumers, collectively contributing 41.8% of the total cashew export turnover. Despite global economic challenges, Vietnam is poised to exceed its 2023 export target of USD 3.1 billion, with an estimated reach of USD 3.3 billion, driven by anticipated cyclical factors and increased demand in the third and fourth quarters.