In W35 in the cashew landscape, Vietnam's cashew exports are forecasted to increase in the coming months due to cyclical factors and rising demand from the United States (US) and European Union (EU). In Jul-22, Vietnam exported 54.67 thousand tons of cashews worth over USD 304.3 million. Despite a slight decline compared to Jun-23, cashew exports for the first seven months of the year reached 334.87 thousand tons, generating more than USD 1.94 billion, marking a 13.3% increase in volume and a 9.7% increase in value compared to the same period in 2022. The US is the largest import market for Vietnamese cashew nuts, accounting for 26.4% of total cashew export turnover in the first seven months of 2023. Vietnam's cashew exports to other markets like China, the EU, the United Kingdom (UK), Australia, and Canada have also grown significantly. Global demand for cashew nuts is forecasted to increase in the long term, with an average growth rate of 5.2% between 2018 and 2024. Vietnam's cashew industry is poised for further growth, with a target of exporting USD 3.1 billion in cashew nuts in 2023, making it the world's top cashew exporter since 2006.
Cashew cultivation is returning to Rio Grande do Norte, Brazi. Cashew production faced setbacks due to droughts and the spread of pests and diseases, leading to a 60.7% reduction in cultivated hectares (ha). To revive the cashew industry, government entities, associations, and companies are collaborating to reintroduce cashew cultivation, partnering with the Brazilian Agricultural Research Corporation (Embrapa) to use genetic technology to clone cashew trees, resulting in better genetics and increased productivity. The aim is to double the current productivity of 350 to 400 kilograms (kg) per ha. Municipal and state governments are also investing in training and technical assistance for cashew farmers. The domestic demand for cashews exists, and authorities are working to ensure that local production meets the demand. Additionally, efforts are being made to add value to cashew products, such as cashew meat, through agro-industrial processes, contributing to the industry's growth and economic impact.