In March, Vietnam exported 55,000 tons of cashew nuts, worth 289 million USD, double the previous month.
The above data has just been quoted by the Import-Export Department (Ministry of Industry and Trade) from Customs. Cumulatively in the first quarter, cashew exports reached 147,000 tons, worth 782 million USD, up 32% and 20.5% respectively over the same period last year.
Export businesses say demand for cashew nuts in the world is increasing. In particular, this seed is increasingly becoming a nutritious and healthy dish that many people use every day.
Vietnam mainly exports cashews W320 (white cashews 320 seeds) and W240 (240 seeds), accounting for 56.71% of the total cashew exports. Therefore, growth in W320 and W240 cashew exports has a positive impact on industry performance.
Regarding the market, the US is the largest import market for Vietnam’s cashew nuts, while China has emerged as an active buyer.
According to the Vietnam Cashew Association, with technological development, Vietnamese cashew nuts 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 diversity of processed products to increase competitive advantage.
Last year cashew exports reached a record of 3.64 billion USD, exceeding 18% of the plan. It is forecasted that this year, the cashew industry still has a lot of room for export growth and can reach the target of 4 billion USD.