Vietnamese cashew seizes growth opportunities in the UK with UKVFTA advantages

Despite shifting market dynamics and stringent trade policies, Việt Nam’s position as a leading supplier of cashews to the UK remains strong. Cashews, a key export commodity of Việt Nam, continue to play a significant role in the country's trade with the UK. Despite shifting market dynamics and stringent trade policies, Việt Nam’s position as a leading supplier of cashews to the UK remains strong, bolstered by the UK-Việt Nam Free Trade Agreement (UKVFTA) and rising demand for high-quality nuts in the British market. Data from Việt Nam’s General Department of Customs shows that the country exported over 17,000 tonnes of cashews in the first ten months of 2024, valued at US$87.3 million, a year-on-year increase of 9.6 per cent in volume and 9.9 per cent in value. This growth is driven by Việt Nam's unparalleled processing capacity and global dominance in cashew production, coupled with the UK’s reliance on imports for its cashew needs. According to the International Trade Centre, ...