American customers love it, China praises it for its deliciousness: A type of Vietnamese nut earned 3.64 billion USD

Published 2024년 5월 26일

Tridge summary

Vietnam is leading the global cashew exports market for the 16th consecutive year, earning $3.64 billion from the sale of 217,500 tons of cashew nuts in the first four months of this year, a 34% increase in volume and 22.5% increase in value compared to the same period last year. The US and China are the largest markets, with the US accounting for 21% of total turnover and China for 17.5%. The global cashew market is expected to grow by 4.6% from 2022 to 2027, driven by the rise in vegan and plant-based diets. The Vietnam Cashew Association is advocating for the development of raw material areas in Cambodia and southern Laos to reduce reliance on imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Vietnam has a type of nut that China praises as delicious, so it spends a lot of money to buy it. American customers also love it. Thanks to that, this Vietnamese advantage earned 3.64 billion USD. Statistics from the General Department of Customs show that in the first 4 months of this year, Vietnam exported over 217,500 tons of cashew nuts, earning 1.17 billion USD. Compared to the same period last year, our country's cashew exports increased by 34% in volume and 22.5% in value. In 4 months, cashew exports to most markets showed positive growth. In particular, Vietnam's cashew exports to many major markets increased by 2 to 3 digits. The US is still the largest customer of Vietnamese cashew nuts as this country's consumers are very fond of buying them. By the end of April this year, our country exported nearly 57,200 tons of cashew nuts to the US market, turnover reached 304.1 million USD, up 32.3% in volume and 20.4% in value compared to the same period last year. period last ...

Source: Vinacas