Vietnam's cashew exports maintain number one position

In 2023, Vietnam's total cashew export turnover will reach 3.63 billion USD, with an output of 641,000 tons, an increase of 17% in value and more than 23% in output compared to 2022.

According to the General Department of Customs, in December 2023, Vietnam's cashew nut exports reached 63,000 tons, worth 343 million USD, up 34% in volume and 27.5% in value compared to December 2022. In the whole year of 2023, Vietnam's total cashew export turnover reached 3.63 billion USD, output reached 641,000 tons, up 17% in value, up more than 23% in output compared to 2022.

In terms of variety structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for 63.51% of total volume and 69.84% of total export turnover of the country.

In 2023, the US will be Vietnam's largest cashew export market.

According to the Vietnam Cashew Association, in 2023, the US will be Vietnam's largest cashew export market. Specifically, cashew exports to the US market will reach 885 million USD, up 5% compared to 2022 and accounting for nearly 25% of the total export turnover of this item.

Cashew nut exports to the Chinese market recorded a breakthrough, with a turnover of 683 million USD, an increase of 55% compared to 2022 and accounting for 19% of the total cashew nut export turnover of the country. In particular, recently, the Chinese market has increased its import of cashew nuts from Vietnam, becoming the largest market for importing cashew nuts from Vietnam, surpassing the US market.

At the same time, cashew nut exports to the Netherlands in 2023 reached 353 million USD, an increase of 19% compared to 2022 and accounting for 10% of the total cashew nut export turnover of the country. In addition, cashew nut exports to potential markets such as Germany, the UK, the United Arab Emirates, etc. also recorded positive results.

Specifically, in 2023, cashew nut exports to the United Arab Emirates and Saudi Arabia increased sharply, reaching 46.6% and 40.1% respectively over the same period last year. Notably, cashew nut exports to the UAE market increased by 148.7% over the same period last year. Other markets also recorded impressive growth.

According to the assessment of cashew exporting enterprises, although Vietnam's cashew export results decreased compared to the target set in early 2023, they exceeded the proposed milestone in mid-2023. That result affirms that, in the face of fluctuations, the Vietnamese cashew industry still maintains the world's number one position in the field of cashew nut export, accounting for 80% of total global output for 16 consecutive years.

It is forecasted that in 2024, the world economy will face many unfavorable factors and national conflicts will continue to negatively affect the global cashew industry, but Vietnam still expects positive changes. Many experts believe that with the current technological development, Vietnamese cashews are competing with other countries. Especially countries with strengths in raw cashew materials such as Ivory Coast. Therefore, the cashew industry needs to focus on processing quality and diversifying processed products to increase competitive advantage.

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