News

Vietnam's cashew industry returns to domestic raw materials

Published Jul 26, 2023

Tridge summary

Vietnam has experienced an increase in cashew nut exports in the first half of 2023, with 276,000 tons exported, generating $1.61 billion in revenue. Binh Phuoc province is a key contributor to Vietnam's cashew exports, accounting for over 50% of the country's processing and export volume. However, despite the growth in exports, many cashew processing businesses in the province are struggling and facing closure due to high import costs and low sales prices.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Ministry of Agriculture and Rural Development, in the first 6 months of 2023, Vietnam exported 276,000 tons of cashews, bringing in 1.61 billion USD, up 10.5% in output and 7.7% in value, respectively. prices compared to the same period last year. However, the average export price of cashew nuts in the second quarter of 2023 was at $5,805/ton, down 2.3% compared to the first quarter of 2023 and down 5% over the same period last year. Binh Phuoc province is considered the "capital" of Vietnam's cashew, accounting for more than 50% of the country's export processing and export volume. Ms. Tran Tuyet Minh, Vice Chairman of Binh Phuoc Provincial People's Committee, said that the province has 1,416 cashew processing establishments, each year contributing 27% - 45% of the province's total export turnover. In 2022, the total export value of cashew nut products of Binh Phuoc will reach $1.045 billion. But behind the growth in cashew nut exports in the first half of 2023, ...
Source: Vinanet
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