China loves Vietnamese cashew nuts more than domestic products despite the high price; exports spiked in October and Vietnam dominates the market

Published Dec 3, 2023

Tridge summary

Vietnam's cashew exports reached a record high in October, with 64,310 tons exported, earning over 358 million USD, a significant increase compared to October 2022. China has emerged as an active buyer, surpassing the US as the largest importer of Vietnamese cashew nuts in October. Chinese consumers prefer Vietnamese cashews for their softness, better kernels, and lower rate of bad seeds, leading to increased consumption in the Chinese market.

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

Original content

China is the largest buyer of this type of grain from Vietnam in October. Vietnam's cashew nut exports increased sharply According to preliminary statistics of the General Department of Customs, Vietnam's cashew exports recorded a new record high of 64,310 tons, earning more than 358 million USD in October, an increase of 47.7% in volume and an increase of 37.1% in volume. % in value compared to October 2022. Accumulated in the first 10 months of the year, our country has exported 516,868 tons of cashew nuts with a value of more than 2.9 billion USD, a sharp increase of 21.8% in volume and 15.9% in value over the same period last year. 2022. The average export price reaches 5,703 USD/ton, down 4.8% over the same period in 2022. In terms of markets, the US was Vietnam's largest export market in the first 10 months of the year. However, China is emerging as an active buyer. Specifically, in October 2023, cashew exports to China reached 14,854 tons worth more than 88.7 million USD, ...

Source: Vinacas