Vietnam's cashew exports reached a new record in October 2023, with a sudden increase of 47.7% in volume and 37.1% in value compared to the previous year. However, the growth in volume is attributed to a sharp decrease in cashew prices due to concerns about food safety. Complaints and warnings from international partners about the quality of Vietnamese cashew nuts, such as the presence of insects, pesticide residues, and foreign impurities, have caused a decline in the reputation of the cashew export industry.
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Source: foodmap.asia In October 2023, Vietnam's cashew exports reached a new record, with 64 thousand tons and 358 million USD, a sudden increase of 47.7% in volume and 37.1% in value over the same period, respectively. last year. In the first 10 months of 2023, cashew exports recorded about 517 thousand tons and 2.95 billion USD, an increase of 21.8% in volume and 15.9% in value compared to the previous year. The notable information is that the growth in volume is greater than the export turnover, this is due to the sharp decrease in cashew prices. In the first 10 months of the year, the average price of exported cashew nuts was only 5,703 USD/ton, down 4.8% compared to the previous year. The main cause of this price decrease stems from food safety issues. The Vietnam Cashew Association (Vinacas) announced complaints and warnings from a number of partners about the quality of many shipments of Vietnamese cashew nuts. This poses an important challenge that needs to be resolved to ...
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