Cashew exports to the US await a boost after the two countries upgrade relations

Raw Cashew Nut

Vietnam

United States

Market & Price Trends

Published Oct 4, 2023

Tridge summary

Vietnam's cashew exports saw a significant increase in volume and value in September 2023 compared to the previous year, with exports reaching 60,000 tons valued at $328 million. Despite this growth, the export price of cashew nuts has decreased by 10.5% in September compared to the previous year. Vietnam's cashew industry has a stable foothold in the US market, but hopes to access modern technology and production lines after the upgrade in Vietnam-US relations to focus on processing and exporting value-added products.

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

The Import-Export Department (Ministry of Industry and Trade) said that in September, Vietnam's cashew exports reached 60,000 tons, equivalent to 328 million USD, an increase of 56% in volume and an increase of 40% in value compared to September 2022. . In the first 9 months of 2023, cashew nut exports are expected to reach 456,000 tons, worth 2.6 billion USD, up 20% in volume and 14% in value compared to the same period last year. (Data: General Department of Customs, Chart: Hoang Anh) Despite the growth in volume and turnover, Vietnam's cashew export price is still lower than the same period in previous years. In September, the export price of cashew nuts was estimated at 5,474 USD/ton, down 10.5% compared to September 2022. On average in the first 9 months of the year, Vietnam's cashew export price reached 5,722 USD/ton, down 4.5% over the same period last year. (Data: General Department of Customs, Chart: Hoang Anh) The Import-Export Department said that in the ...

Source: Vinanet