Vietnam is the largest supplier and it is difficult to replace a type of nut for the US, China, and the EU

Published 2024년 7월 14일

Tridge summary

In June 2024, Vietnam saw a significant growth in its cashew exports, reaching 65,000 tons valued at 388 million USD, an 8.4% increase in volume and 13% increase in value over the same period last year. The first half of 2024 witnessed a 25% increase in volume and 17.4% increase in value in total cashew exports compared to the same period in 2023, with the US, China, and EU being the primary markets. The average export price in June 2024 was 5,973 USD/ton, marking a notable increase compared to the previous month and year. Despite these positive trends, the cashew industry faces challenges such as fluctuations in raw material prices due to decreased production in West Africa and export bans by countries like Ivory Coast. The Vietnam Cashew Association (Vinacas) has appealed to the Government and relevant ministries to address these challenges and support the industry's growth by focusing on developing cashew raw material areas and high-quality, high-yield cashew varieties to decrease reliance on imported sources.

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

Original content

According to statistics from the General Department of Customs, in June 2024, Vietnam's cashew exports reached 65,000 tons, worth 388 million USD, up 8.4% in volume and 13% in value over the same period last year. last. In the first 6 months of 2024, Vietnam exported 350,000 tons of cashew nuts, worth 1.92 billion USD, up 25% in volume and 17.4% in value compared to the same period last year. In June 2024, Vietnam's average cashew export price is estimated to reach 5,973 USD/ton, up 9.2% compared to May 2024 and up 4.2% compared to June 2023. The US, China, and the EU are the largest import markets for Vietnamese cashew nuts, of which in the US market, Vietnam's cashew nut market share is almost the majority. Specifically, according to data from the US International Trade Commission, in the first 4 months of 2024, the US imported 47,730 tons of cashew nuts, worth 252.96 million USD, an increase of 18.5% in volume and an increase of 9.1%. % in value compared to the same period last ...

Source: Danviet