Vietnam: Cashew industry faces risk of trade deficit

Exports of cashews were up 22.9 per cent in volume and 21.8 per cent in turnover year-on-year, according to the General Department of Customs, with an average price per tonne of US$5,706. Cashew nuts are one of the exports which have created a large market for Việt Nam, however the industry faces the risk of trade deficit due to higher raw material prices. Exports of cashews were up 22.9 per cent in volume and 21.8 per cent in turnover year-on-year, according to the General Department of Customs, with an average price per tonne of US$5,706. Notably, the export turnover of cashew nuts still maintained growth, but the gap between the export value and the import turnover of raw materials has gradually narrowed. In 2023, the export turnover of cashew nuts reached $3.64 billion, while the import of raw materials stood at $3.1 billion. The industry achieved a trade surplus of $500 million. In the first eight months of this year, the cashew industry spent about $2.7 billion to import raw ...