Vietnam: For the first time in history, cashew exports exceeded the 4 billion USD mark

Surpassing the 4 billion USD mark marks a new step forward for the cashew industry after many years of maintaining an export turnover of more than 3 billion USD. The first time the cashew industry exported more than 3 billion USD was in 2017. The field of processing raw cashews into cashew nuts for export has now invested in modern machinery to basically replace manual labor, increasing the processing capacity to about 2 million tons/year and is continuously increasing at a rapid rate. However, in general, Vietnam mainly exports low-value pre-processed cashew nuts, while finished cashew nuts reaching consumers have not yet developed, so Vietnam only accounts for about 30% of the cashew industry value chain. The trade and export of cashew nuts and processed foods from cashew nuts have been expanded to all developed markets in the world, in which the EU, the US and China are the 3 largest import markets accounting for over 90% of the export volume of the Vietnamese cashew industry. ...