In the first 10 months of 2023, cashew exports to major markets such as the US, China, and the EU all increased in volume. In addition, cashew exports to Middle Eastern countries recorded high growth.

According to the Import-Export Department (Ministry of Industry and Trade), in October, Vietnam's cashew exports reached the highest level in volume since 2021 with 64,320 tons, equivalent to USD 358 million, an increase of 13% in volume and an increase of 15.5% in value compared to September. Compared to October 2022, cashew exports this month also recorded an increase of 48% in volume and an increase of 37% in value.

Accumulated over the first ten months of this year, Vietnam's cashew exports reached nearly 517,000 tons, worth USD 2.95 billion, an increase of 22% in volume and 16% in value compared to the same period last year. With this result, the cashew industry has achieved 97% of the export value target of USD 3.05 billion in 2023.

In October, Vietnam's cashew export price reached USD 5,569/ton, increased by 2% compared to September but decreased by 7% compared to October 2022. Over the first ten months of 2023,on average, the export price of cashew nuts reached USD 5,703/ton, a decrease of 5% compared to the same period in 2022.

In the first ten months of 2023, cashew nut exports to all major markets increased in volume, while in terms of export value, the only decrease was to the Australian market.

Of these, the US, China, and the Netherlands are the three single markets that consume a lot of Vietnamese cashew nuts, accounting for 25%, 16%, and 10% of Vietnam's total cashew exports, respectively.

In the first 10 months of 2023, cashew exports to the US reached nearly 130,000 tons, equivalent to USD 733 million, an increase of 9% in volume and an increase of 5% in value compared to the same period in 2022.

Cashew exports to China reached 85,000 tons, equivalent to USD 522 million, an increase of 43% in volume and an increase of 47% in value compared to the same period in 2022.

In addition, cashew exports to the Middle East, a new and potential market, also recorded breakthrough growth.

Accordingly, cashew exports to the UAE reached 13,000 tons, equivalent to USD 76 million, an increase of 74% in volume and an increase of 60% in value compared to the first ten months of 2022. The UAE is the market with the highest growth in both volume and value.

In addition, cashew exports to Saudi Arabia reached 10,500 tons, equivalent to USD 60.5 million, an increase of 52% in volume and an increase of 36% in value compared to the first 10 months of 2022.

Kylie Nguyen