Raw cashew imports exceeded 3 billion USD

According to statistics from the Customs Department, as of July 15, Vietnam imported 1.81 million tons of raw cashews, worth 3.024 billion USD. Compared to the same period last year, import volume increased by 4% and turnover increased by 12.3%.

Cambodia continues to be Vietnam’s largest source of raw cashew nuts, accounting for 54.2% of total volume and 56.3% of total import turnover. Vietnam imported 980,700 tons of cashews from this market, worth more than 1.7 billion USD, an increase of 10.3% in volume and 25.9% in value over the same period last year.

In addition to Cambodia, Vietnam also imports cashews from many African countries such as Ivory Coast, Tanzania, and Nigeria.

Vietnam is currently the largest exporter of cashew nuts in the world. However, domestic raw material sources only partly meet processing needs, forcing businesses to import large amounts of raw cashew nuts. After preliminary processing and processing into cashew kernels and cashew products, goods are exported to major markets such as the US, China and Europe.

In the opposite direction, also according to data from the Customs Department, as of July 15, Vietnam exported nearly 373,800 tons of cashew nuts of all kinds, earning nearly 2.63 billion USD. Compared to the same period last year, export volume decreased slightly but turnover increased by 3.1%.

With import turnover higher than exports, the cashew industry continues to have a trade deficit in the context that the demand for raw materials for processing is still increasing, while domestic supply has not met the capacity of factories.