Vietnam earned 2.95 billion USD by selling more than half a million tons of cashew nuts

Cashew Nut Kernel

Raw Cashew Nut

Vietnam

Market & Price Trends

Published Nov 14, 2023

Tridge summary

In the first 9 months of 2023, Vietnam imported a large quantity of raw cashews for processing, resulting in a trade deficit for the cashew industry. However, by the end of October, cashew exports had increased, leading to a trade surplus of $430 million for the industry. The US and China were the top importers of Vietnamese cashew kernels, with China experiencing a significant increase in imports.

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

In the first 9 months of 2023, our country's businesses massively imported raw cashews to serve processing needs, causing this industry to always be in a trade deficit. By the end of October this year, Vietnam had spent nearly 2.93 billion USD to import about 2.52 million tons of cashew nuts. Compared to the same period last year, cashew imports increased by 44.8% in volume and 17.9% in value. In the opposite direction, in the first 10 months of 2023, cashew exports reached 516.9 thousand tons, with a value of 2.95 billion USD. Accordingly, cashew exports increased by 21.8% in volume and 15.9% in value compared to the same period last year. Thus, our country's cashew industry officially regained its trade surplus position, reaching 430 million USD. That's because in October alone, our country exported 64,320 tons of cashew kernels, earning 338.2 million USD, a sharp increase of 47.7% in volume and 37.1% in value compared to October 2022. Along with that, the average export price ...

Source: Vietstock