Nigeria is threatening to usurp the throne of Vietnamese cashew nuts

Published Dec 25, 2023

Tridge summary

Vietnam's cashew processing industry faces competition from countries such as Ivory Coast, Nigeria, and Ghana, who export raw cashews. Vietnam is the 4th largest global producer of raw cashew nuts, but exports the most cashew kernels, accounting for nearly 63% of the global market. Nigeria plans to become a major player in the cashew industry by importing raw cashews for processing, which could impact Vietnam's position. Additionally, the industry is facing decreased profit margins due to lower export prices and rising costs.

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

Original content

Not only that, Vietnam's cashew processing industry is at risk of competition from countries that have long mainly exported raw cashew materials such as Ivory Coast, Nigeria, and Ghana. Position of Vietnam's cashew industry According to INC statistics, Vietnam's raw cashew output in the 2022-2023 season ranks 4th in the world with 350,000 tons, accounting for about 7% of the proportion, and only 1/3 of the output of the leading country. Ivory Coast with 1.25 million tons of raw cashew nuts. However, in terms of exports, Vietnam can be proud of its superior position. On average in the last 5 years, Vietnam exported about 393,000 tons of cashew kernels, accounting for nearly 63% of the global export market. According to data from the General Department of Customs, accumulated in the 11 months of 2023, Vietnam's estimated cashew export output is about 582,000 tons, an increase of 23.1% over the same period in 2022. Regarding the input material market, Cambodia is the largest source ...

Source: Vinacas