Vietnam: Cashew industry aims to export 3.1 billion USD in 2023

Cashew Nut Kernel

Vietnam

Published Mar 5, 2023

Tridge summary

The Vietnam Cashew Association (VINACAS) has set an export target of US$3.1 billion in 2023, up 0.6 percent compared to 2022. At the 12th Vietnam International Cashew Conference (February 27 - 28), Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association (VINACAS) said that in 2023, although the global agricultural product market is expected to be It is forecasted that there will be a great demand for food and foodstuffs, the expansion of export markets in parallel with focusing on the domestic market will be the basis for Vietnam's agricultural industry to aim for agro-forestry export - seafood $ 54 billion in 2023 (an increase of $ 780 million compared to 2022).

Original content

Vinacas cited data from the General Department of Customs, by the end of December 2022, Vietnam had exported 519,782 tons of cashew nuts, worth 3.08 billion USD. Compared to 2021, cashew exports decreased by 10.3% in volume and 15.1% in value. With this result, the cashew industry did not fulfill the target of export turnover of 3.2 billion USD in the past year, and at the same time, ended the 10-year growth period in cashew exports (from 2011 to 2021). According to the assessment of the VINACAS Information Council, by the last month of 2022 and the beginning of 2023, production activities as well as the supply chain of the global cashew industry and in Vietnam continue to face many difficulties. On that basis, Mr. Cong forecasted that the growth of the cashew industry would be significantly affected as the global demand for cashew kernels continued to be gloomy, and the world cashew raw material market would face many challenges. In 2023, the cashew industry set an export target ...

Source: Vinacas