The number 1 position in Vietnam's cashew industry is shaken
Raw Cashew Nut
Cashew Nut Kernel
Nuts & Seeds
Vietnam
Market & Price Trends
Published Mar 23, 2024
Tridge summary
Vietnam, the world's largest processor and exporter of cashew kernels, is facing increasing competition, particularly from African countries. Despite accounting for nearly 80% of global cashew kernel exports and consuming 65% of the world's raw cashew nuts, Vietnam's market share is decreasing. This is due to the shrinking domestic growing area and output, and the fact that African countries, which now account for 57% of global raw cashew production, are limiting the sale of raw cashew nuts to develop their own processing industries. Despite these challenges, Vietnam's cashew export turnover is expected to reach 3.6 billion USD in 2023, an increase of 18% compared to 2022, and aims for a new record of 3.8 billion USD in 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Processing cashew kernels for export at Long Son Company. (Photo: N.H) Center of the global cashew industry Vietnam is the largest processor and exporter of cashew kernels, and is also the country that imports the most raw cashew nuts in the world. According to the Vietnam Cashew Association (Vinacas), Vietnam is importing nearly 65% of raw cashew output and accounting for nearly 80% of cashew kernel exports on the world market. In 2023, the country's cashew export turnover will reach 3.6 billion USD, an increase of 18% compared to 2022, reaching 3.6 billion USD. In particular, cashew exports to some large markets such as the US, China, and the Netherlands recorded high growth. Specifically, cashew exports to the US reached 885 million USD, an increase of 5% compared to 2022 and accounting for nearly 25% of the total export turnover of this item. For the Chinese market, cashew export turnover reached 683 million USD, an increase of 55% compared to 2022 and accounting for 19% of ...
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