Vietnam's cashew industry expects positive movements in 2024
Raw Cashew Nut
Vietnam
Market & Price Trends
Published Jan 7, 2024
Tridge summary
Despite challenges such as a weak world economy, high inflation, and national conflicts affecting the cashew industry, Vietnam expects positive movements in 2024. The country's cashew export turnover reached 3.63 billion USD in 2023, with the US, China, and Europe being its top export markets. Vietnam's cashew industry also focuses on improving quality to maintain its reputation and competitive advantage against countries like Ivory Coast.
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
Although the world economy is weak, inflation is high and national conflicts continue to negatively affect the global cashew industry, Vietnam still expects positive movements in 2024. After a turbulent year on raw material prices, raw material quality as well as the rise of African countries in cashew processing activities, causing the Vietnamese cashew industry to find ways to maintain its export position for many years. . Thanks to that, Vietnamese cashew nuts gradually stabilized, maintaining the market and the cashew industry still expected positive movements in 2024. According to Vietnam Customs statistics, cashew export turnover in 2023 reached 3.63 billion USD , output reached 641,000 tons, an increase of 17% in value, an increase of more than 23% in output compared to 2022. Regarding type structure, Vietnam mainly exports cashew nuts W320, W240, W180, the proportion accounting for 63.51% of the total volume and 69.84% of the country's total export turnover. The growth in ...
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