Vietnam's cashew kernel exports will continue to reach over 3 billion USD

Cashew Nut Kernel

Vietnam

Published Jul 27, 2023

Tridge summary

In the first half of 2023, the cashew industry in Vietnam has exported over 279 thousand tons of cashew kernels, generating approximately $1.6 billion in revenue. Despite facing difficulties and challenges, cashew exports have maintained positive growth and remain a key agricultural product. The Vietnam Cashew Association (Vinacas) has proposed two scenarios for cashew kernel exports, with the "good" scenario focusing on stimulating demand and quality control, while the "bad" scenario anticipates a decline in global economy and consumer demand. Vinacas predicts that the export turnover of cashew kernels in 2023 will likely reach $3.05 billion.

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Original content

At the Conference on preliminary review of cashew production and business in the first 6 months of 2023, organized by the Vietnam Cashew Association (Vinacas) on the afternoon of July 26, Mr. Bach Khanh Nhut, Vice Chairman of Vinacas said, in the first 6 months of 2023 , the whole cashew industry has exported over 279 thousand tons of cashew kernels of all kinds with a turnover of about 1.6 billion USD, up 9.49% in volume and 7.65% in value over the same period in 2022. The average export price of cashew kernels was only about 5,717 USD/ton, down 1.73% over the same period last year. Thus, although in the context of still facing many difficulties and challenges, cashew kernel continues to be one of the key export agricultural products, maintaining positive growth and belonging to the group of products with export turnover of billions of dollars. dollars in the first half of the year. It is forecasted that in the last 6 months of 2023 until the first quarter of 2024, the growth of ...

Source: Agriculture