Cashew nut export turnover in Vietnam reached 3 billion USD in 11 months

Raw Cashew Nut

Vietnam

Published Dec 9, 2022

Tridge summary

According to the Ministry of Agriculture and Rural Development (MARD), in November 2022, the price of raw cashew nuts continued to increase slightly in Binh Phuoc and stabilized in Dong Nai. In which, dry cashew nut in Binh Phuoc is at 30,500 VND/kg. In Dong Nai, dried cashew nuts bought in buckets remained at VND 21,000/kg, unchanged from 2 months ago.

Original content

Experts forecast that the market of countries in the European Union (EU) still has a lot of room for development thanks to its stability, very little fluctuation, and partly because Vietnam's cashew nuts are a high-quality product. Besides, domestic exporters take advantage of the EU-Vietnam Free Trade Agreement (EVFTA), so the export of Vietnam's cashew nuts to EU countries has many prospects. According to statistics, the volume of cashew nut exports in November 2022 is estimated at 80,000 tons with a value of 458 million USD, bringing the cashew nut export volume in 11 months of 2022 to 505 thousand tons and the value reaching 3 billion USD. , down 5% in volume and 10.1% in value year-on-year in 2021. The average export price of cashew nuts in 11 months of 2022 is estimated at 5,948 USD/ton, down 5.4% over the same period in 2021. The United States, China and the Netherlands are the three largest cashew import markets of Vietnam. , accounting for a market share of 27.5%, 14% and ...

Source: Vinacas