In W45 in the cashew landscape, the Vietnamese cashew industry faces increased competition, particularly from countries like Ivory Coast. Amid technological advancements and growing competitive pressure, industry experts and the Vietnam Cashew Association are emphasizing a shift toward quality and diversification of processed cashew products. Quality concerns have emerged, prompting warnings from the United States (US) and European associations regarding issues such as live insects, pesticide residues, and impurities. To maintain competitiveness, the industry is urged to invest in deep processing, diversify products, and strengthen raw material management. Despite challenges, cashew exports are thriving, with a forecasted annual turnover exceeding the initial target of USD 3.1 billion, reaching an estimated USD 3.3 billion. Notably, the Chinese market has become the largest importer of Vietnamese cashew nuts, surpassing the US, with a remarkable growth rate of 42.3% year-on-year (YoY).
Furthermore, from Jan-23 to Oct-23, agricultural product exports from Vietnam to China through the Pontoon Bridge Opening in Quang Ninh province experienced a significant surge. The total export output reached 653.8 thousand tons, generating a turnover of USD 1.1 billion, representing a substantial increase of nearly 2.7 times in output, with 245 thousand tons, and almost 3.9 times in turnover, an increase of USD 868 million compared to the same period in 2022. China played a crucial role as an essential market for various Vietnamese agricultural products, including cashew nuts, fruits, and seafood.
The Governor Ahmed Abbas of Mtwara Region in Tanzania has issued a warning against traders suspected of sabotaging the transportation of cashew nuts through Mtwara Port in the 2023/24 season. The Governor expressed concern about a queue of trucks waiting to unload cashews at the port and emphasized the government's commitment to promoting the region's income through this crop. He urged transport stakeholders to cooperate, instructed them to wait for trucks to unload immediately, and warned of consequences for anyone found involved in sabotaging the cashew transportation process. The initiative aligns with President Samia Suluhu Hassan's directive to transport all cashews from the Lindi, Mtwara, and Ruvuma regions through the port to benefit citizens along the value chain. As of November 7, 2023, 8.27 thousand tons in 335 boxes, were prepared at the port for shipment to various global destinations.
Lastly, Côte d’Ivoire, West Africa, one of the world's top cashew exporters, has experienced significant forest loss, with satellite analysis revealing a 25% decline in primary forest cover in certain cashew-growing regions between 2019 and 2023. The expansion of cashew orchards has resulted in "Green deserts" devoid of biodiversity, posing threats to native flora and fauna. Analysts report a need for collaborative efforts across the cashew supply chain to invest in sustainable farming practices, promote traceability, regulate the industry responsibly, and introduce measures to ban cashews linked to deforestation in international markets.