W1 Cashew Update: Raw Cashew Exports in Cambodia Decreased by 16.9% YoY, While Vietnamese Cashew Exports Hit a Record High

Cambodia’s Raw Cashew Exports Dropped by 7.6% in Volume and 16.9% in Value YoY

In 2023, Cambodia witnessed a 7.6% year-on-year (YoY) decline in raw cashew nut exports, amounting to 665 thousand metric tons (mt), with the total export value at USD 837 million, a 16.9% YoY decrease in 2023. Vietnam remains the primary destination for Cambodian cashew nuts, accounting for 618 thousand mt. The absence of community warehouses, attributed to insufficient funds, played a significant role in the export downturn, particularly in Aug-23 and Sep-23, when the prices were relatively high. Limited funds have resulted in 95% of raw cashew nuts produced in Cambodia being exported abroad, with only 5% undergoing domestic processing. Furthermore, the ongoing impact of climate change exacerbates challenges in production.

Vietnamese Cashew Exports Reach Record High in 2023

According to Vietnam's General Department of Customs, in the first half of Dec-23, Vietnamese cashew exports reached 31 thousand mt, valued at USD 168 million. From January 1 to December 15, 2023, the country exported a record-breaking 612 thousand mt of cashew, marking the first time in Vietnam's cashew industry that the export volume exceeded 600 thousand mt. The turnover for the same period was USD 3.467 billion. If the cashew export value remains the same in the second half of Dec-23 as in the first half of Dec-23, the total cashew export turnover in 2023 will cross over USD 3.6 billion.

Morocco's Cashew Nut Imports Witness a 12-Fold Increase in Volume

Morocco witnessed a 12% YoY rise in tree nut imports from Jan-23 to Oct-23, amounting to 66 thousand mt. Almonds, walnuts, and raisins were the most imported categories. Notably, cashew nut imports saw a remarkable 12-fold increase in volume.