In the first quarter of 2023, Vietnam's cashew exports saw a notable increase, reaching 122 thousand tons and valued at 708 million USD, a 16.6% increase in volume and a 14.2% increase in value compared to the same period in 2022. However, the industry experienced a decline and faced significant challenges, including competition from other producing countries and high global inflation. The average export price of cashew nuts in March 2023 was 5,913/ton, up 2.6% from February 2023 but down 1.2% from March 2022. The industry is expected to face continued challenges such as high production costs, global supply chain issues, and decreased demand. To overcome these challenges, the Vietnam Cashew Association (Vinacas) has recommended a strategy of reducing quantity and increasing value, building and managing brand value, and diversifying markets.