The US spent 1.15 billion USD to buy cashew nuts, a type of nut rich in vitamin K, from Vietnam, from the copper pot tree.

Published 2025년 1월 21일

Tridge summary

In 2024, Vietnam's cashew industry saw significant growth, exporting 730,000 tons of processed nuts worth 4.37 billion USD, with the US and China as major markets. Despite advanced processing technology, Vietnam captures only 30% of the global cashew value chain, prompting efforts to enhance deep processing and improve raw material quality. In Binh Phuoc, initiatives include training and promoting high-yield varieties. Hai Binh Cashew Joint Stock Company, led by Mr. Luu Hoang Son, exemplifies industry innovation by investing in modern machinery and expanding into domestic and international markets, producing 1,100 to 1,600 tons of finished products annually.

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

Original content

18 years holding the world's No. 1 position According to data from the General Department of Customs, in 2024, Vietnam exported 730,000 tons of processed cashew nuts, bringing in 4.37 billion USD, up 13.3% in volume and 20.2% in value compared to 2023. The average export price of Vietnam's cashew nuts reached about 6,003 USD/ton in 2024, up 6.1% compared to 2023. Regarding the export market, the US is still the largest customer. Notably, in 2024, for the first time in history, the US market spent more than 1.15 billion USD to import nearly 192,200 tons of cashew nuts from Vietnam, up 21.3% in volume and 30.3% in value compared to the previous year. China imported the second largest amount, with more than 117,000 tons, worth 687.84 million USD, up 18.9% in volume and 14.4% in value compared to the same period in 2023. In addition, the Vietnamese cashew industry also exploited the EU market well, such as the Netherlands, Germany, Spain, etc. The type of nut is considered "very ...

Source: Danviet