Vietnamese cashew exports to the US and China grew by more than 30%

Raw Cashew Nut

Cashew Nut Kernel

Vietnam

Market & Price Trends

Published Oct 3, 2023

Tridge summary

Vietnam's cashew nut exports reached a new record high in August 2023, with 60.58 thousand tons worth 333.83 million USD, experiencing increases in both volume and value compared to the previous month and the same period last year. The US and China remain the largest customers, accounting for 41.8% of Vietnam's total cashew export turnover in the first eight months of 2023. The cashew industry in Vietnam is facing challenges such as limited raw material sources, small-scale processing facilities, and increased imports of cashew kernels.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to data from the General Department of Customs, in August 2023, Vietnam's cashew nut exports in August 2023 continued to record a new record high of 60.58 thousand tons, worth 333.83 million USD, an increase 10.8% in volume and 9.7% increase in value compared to July 2023, 29.2% increase in volume and 21.8% increase in value compared to August 2022. Breakthrough in the US market In the eight months of 2023, Vietnam's cashew exports reached nearly 395.6 thousand tons, worth 2.28 billion USD, up 15.5% in volume and 11.3% in value compared to the same period last year. Overall, for the first 8 months of 2023, Vietnam's average cashew export price reached 5,760 USD/ton, down 3.6% compared to the same period in 2022. The US and China are still the largest customers of cashew nuts. Vietnam, these two markets accounted for 41.8% of our country's total cashew export turnover in 8 months. In August 2023, Vietnam's cashew export value to the United States increased by 33.8%, and ...

Source: Vinacas