Statistics from the General Department of Customs show that in 2024, Vietnam will export nearly 724,000 tons of cashew nuts, earning 4.34 billion USD. Compared to 2023, cashew exports will increase by only 12.4% in volume but increase sharply by 19.2% in value.

This is also an export record for the Vietnamese cashew industry, while maintaining its No. 1 position in the world for the past 18 years, accounting for over 80% of the total global cashew kernel export output.

In 2024, the cashew industry will also regain its trade surplus position, with a trade surplus of 1.12 billion USD.

In terms of export markets, the US remains the largest customer. Notably, in 2024, for the first time in history, the US spent more than 1.15 billion USD to import nearly 192,200 tons of cashew nuts from Vietnam. Accordingly, cashew nut exports to the US market increased by 21.3% in volume and 30.3% in value compared to the previous year.

Currently, this super nutritious nut from Vietnam accounts for about 98% of the total import value of this item in the US. And in the total export turnover of cashew nuts of our country in 2024, the US market accounts for nearly 26.6%.

According to the leader of the Vietnam Cashew Association, the growth driver of the cashew market in general and the US in particular is the development of the food processing industry, driven by urbanization, changing consumer lifestyles and the demand for convenient foods.

Because, cashew is a super nutritious nut containing a lot of vitamins and minerals, antioxidants that help maintain good body functions. According to the National Nutrient Database of the US Department of Agriculture, eating just 18 cashews a day will provide 31% of copper, 23% of manganese, 20% of magnesium, 17% of phosphorus, 10% of iron, 8% of selenium and 5% of vitamins needed for the body.

Therefore, cashew nuts are widely used in the food processing industry to make snacks, confectionery, bakery products...

With this trend, the demand for cashew imports from major markets, including the US, is likely to increase in the coming time, creating export space for Vietnamese businesses.

Spending 2.3 billion USD to import cashews, farmers cut down cashew trees to plant durian, the minister felt bitter . Due to the shortage of supply, Vietnam had to spend nearly 2.3 billion USD to import cashews in the past 7 months. But when asking and receiving the answer from farmers about the reason for cutting down cashew trees to plant durian, Minister Le Minh Hoan felt bitter.