Vietnam's cashew nut processing relies heavily on imports, and the industry calls for expanding planting area
Raw Cashew Nut
Vietnam
Market & Price Trends
Published Jan 29, 2024
Tridge summary
Vietnam's Ministry of Agriculture and Rural Development reported a decrease in cashew planting area in 2023, resulting in an output of over 345,000 tons. Despite being the fourth largest global producer, Vietnam's production only fulfills 12% of its processing companies' needs, leading to a record high import of 2.9 million tons of raw cashew nuts in 2023. The Vietnam Cashew Association is seeking sustainable development solutions and urging the Ministry of Industry and Trade to implement a national trade promotion plan. In 2023, Vietnam exported over 644,000 tons of cashew nuts, earning US$3.644 billion.
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
A report from the Ministry of Agriculture and Rural Development of Vietnam stated that the total cashew planting area in Vietnam in 2023 is estimated to be 314,000 hectares, a decrease of 8,300 hectares compared with 2022, and the output will be more than 345,000 tons. Although Vietnam is the fourth largest cashew nut producer in the world, Vietnam's cashew nut production can only meet about 12% of the needs of processing companies. In 2023, Vietnam's imported raw cashew nuts reached a record high of 2.9 million tons. To this end, Vietnamese cashew processing enterprises recommend that the Ministry of Agriculture and Rural Affairs continue to study and find solutions for the sustainable development of the industry, focusing on varieties, technology, planning, expanding production areas, and building regional agricultural product brands. The Vietnam Cashew Association (Vinacas) recommends that various departments and local departments hold regular meetings with the association to ...
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