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Vietnam's Cashew Nut Exports Surpass Plan by Over 18%


Published Date: February 03, 2024
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In the preceding year, our country successfully exported 644,000 tons of cashew nuts, valued at 3.6 billion USD, reflecting a remarkable 24% increase in volume and an 18% rise in value compared to the figures recorded in 2022. This outcome not only surpassed the 2023 plan by 18%, which was set at 3.05 billion USD, but also stands as the highest achievement in recent years. As reported on the general information website vietnambiz.vn, the average cashew export price in December 2023 reached 5,497 USD/ton, marking a 4% decrease compared to December 2022. The anticipated average export price for cashew nuts in the broader context of 2023 is projected to be 5,677 USD/ton, indicating a 5% decline compared to the previous year.

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Vietnam Cashew Exports Thrive

The Vietnam Cashew Association has reported that in 2023, the United States emerged as Vietnam's leading cashew export destination. Specifically, cashew nuts exported to the U.S. amounted to 885 million USD, representing a 5% increase from 2022 and constituting nearly 25% of the total export turnover for this commodity.

Cashew exports to China experienced a notable surge, reaching a turnover of 683 million USD, reflecting a significant 55% increase compared to 2022 and contributing 19% to the overall cashew export turnover of the country. Cashew nut exports to the Netherlands, serving as the gateway to the EU market, are expected to reach 353 million USD in 2023, marking a 19% increase from 2022 and comprising 10% of the country's total cashew export turnover. Additionally, positive export results were recorded for cashew nut shipments to potential markets such as Germany, England, and the United Arab Emirates in 2023.

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