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Cashew Export from Vietnam Surpasses $3.6 Billion in 2023: Bright Prospects for 2024

25/01/2024

Vietnam, recognized as the “home” of top-quality cashews globally, has marked a robust breakthrough in cashew export in 2023, reaching […]

Vietnam, recognized as the “home” of top-quality cashews globally, has marked a robust breakthrough in cashew export in 2023, reaching an impressive turnover of over $3.6 billion. This remarkable achievement has exceeded the plans set by the Vietnam Cashew Association, paving the way for promising prospects in 2024.

Bright prospects of cashew nut industry in 2024

According to data from the Import-Export Department, in November 2023, Vietnam’s cashew export volume reached 65 thousand tons. Despite facing challenges from fierce competition, notably from Cambodia and some African countries, the Vietnamese cashew industry remains flexible and resilient.

The most noteworthy event in 2024 is the 13th International Cashew Conference to be held in Quang Binh province, where leading experts in the field will gather. The conference will serve as an opportunity to discuss solutions for shaping supply and demand, as well as pricing strategies for both raw and processed cashews on a global scale.

Although the export price of cashews decreased by 12.6% compared to the previous month, the export volume and value increased by 1.1% and 0.03%, respectively, compared to October 2023. In comparison to November 2022, these figures rose by 34.5% and 30.7%.

In the cumulative total of the first 11 months of 2023, Vietnam’s cashew exports are estimated to reach 582 thousand tons, valued at $3.31 billion, marking a 23.1% increase in volume and a 17.4% increase in value compared to the same period last year. Despite a 4.7% decrease in the average export price of cashews compared to the same period, the cashew industry has surpassed its set targets, with expectations of continued growth in December.

In this success story, Visimex stands out as a pioneer in Vietnam’s organic agriculture, boasting over 20 years of experience in exporting Vietnamese agricultural products. Visimex has played a crucial role in elevating the quality and standards of Vietnamese cashews on the global stage. Their commitment to organic practices and sustainable agriculture aligns seamlessly with the positive trajectory of Vietnam’s cashew industry. As a key player, Visimex continues to contribute significantly to the success and growth of Vietnamese cashew exports, showcasing the nation’s prowess in the international market.

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