World: Cashew industry has high exports but still lacks raw materials

Published Dec 20, 2024

Tridge summary

The Vietnamese cashew industry has seen a significant increase in export revenue, reaching $3.98 billion in the first 11 months, by processing large quantities of imported raw cashews worth over $3 billion. This growth, despite the reliance on imports and challenges such as competition and high production costs, places the industry among the leading exporters globally. However, the industry faces challenges like the lack of domestic raw materials, which accounts for only 10% of demand, and the potential impact of Decree 15, which limits the sale of African cashews in the domestic market. Additionally, the industry is advocating for higher profits for cashew growers to maintain sustainability and increase deep processing to enhance export value.

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

Original content

The cashew industry had to spend more than $3 billion to import raw cashew nuts for processing export products in the first 11 months, in order to gain an export revenue of $3.98 billion. Việt Nam's cashew industry still has to import huge volumes of raw cashew nuts for processing export products, although the sector gained high export value in the first 11 months of this year. Along with coffee, vegetables and rice, there was a record in cashew exports in the first 11 months, 669,000 tonnes, worth a total of $3.98 billion. Exports were up 15.2 per cent in volume and 20.6 per cent in value over the same period last year, according to General Statistics Office (GSO). Việt Nam mainly exports cashew nuts of W320, W240, W180, accounting for 63.5 per cent of the total volume and 70 per cent of the total value. In recent years, Việt Nam's cashew nut export turnover has maintained its leading position in the world, with an average value of about $3-4 billion each year. However, Việt ...

Source: WTOCenter