Vietnam earns 2.55 billion USD from cashew nut exports, up by 25.2%

Published 2024년 8월 24일

Tridge summary

Vietnam has seen a significant increase in cashew nut exports, reaching nearly 451,600 tons and earning 2.55 billion USD in the first half of 2024, a 25.2% increase from the same period last year. The country is currently the world's leading exporter of cashew nuts, with plans to achieve an export turnover of 3.8 billion USD in 2024. However, the industry faces challenges due to the reliance on imported raw materials, primarily from Africa and Cambodia. This dependence has led to high prices and difficulties in sourcing, affecting the price of domestic cashews and leading some farmers to switch to other crops. Additionally, the industry is grappling with issues of counterfeit cashew products and a decrease in planting areas due to these challenges.

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

Original content

As of August 15, Vietnam exported nearly 451,600 tons of cashew nuts, earning 2.55 billion USD, up 25.2% over the same period last year. According to statistics from Vietnam Customs, in the first 7 months of 2024, Vietnam exported 421,500 tons of cashew nuts, worth 2.36 billion USD (up 25.8% in volume and 21.6% in value over the same period in 2023). Vietnam's average cashew nut export price in the first 7 months of 2024 reached 5,611 USD/ton (down 3.3% over the same period in 2023). In the first 7 months of 2024, Vietnam's cashew nut exports to traditional and potential markets such as the US, China, the Netherlands, Russia, France, etc. all grew positively compared to the same period in 2023. Vietnam is currently the world's No. 1 cashew nut exporter. In 2024, the Vietnamese cashew industry aims to achieve an export turnover of 3.8 billion USD (an increase of 200 million USD compared to 2023). However, about 90% of raw materials for production of the Vietnamese cashew ...

Source: Vinacas