Jan
In 2023, cashew exports will reach 3.64 billion USD, an increase of 24% in volume and an increase of 18% in turnover compared to 2022; this is also the highest result in recent years.
According to data from the General Department of Customs, cashew exports in December 2023 reached 63 thousand tons, equivalent to 343 million USD, not changing much compared to the previous month. However, compared to December 2022, cashew exports increased by 34% in volume and 27.5% in value.
Overall, in 2023, cashew exports will reach 644 thousand tons, equivalent to 3.6 billion USD, an increase of 24% in volume and an increase of 18% in turnover compared to 2022. With this result, the cashew industry has surpassed 18% of the 3.05 billion USD plan; this is also the highest result in recent years.
At the beginning of the year, the Ministry of Agriculture and Rural Development assigned the cashew industry an export turnover target of 3.8 billion USD; however, due to difficult market developments in the first half of 2023, the cashew industry asked to lower the target to 3.05 billion USD. .
In December 2023, Vietnam’s cashew export price was at 5,497 USD/ton, down 4% compared to December 2022 and down 11% compared to December 2021. The average cashew export price in 2023 will reach 5,677 USD/ton, down 5% compared to 2022 and down 10% compared to 2021.
Overall, in 2023, cashew exports will reach 644 thousand tons, equivalent to 3.6 billion USD, an increase of 24% in volume and an increase of 18% in turnover compared to 2022. With this result, the cashew industry has surpassed 18% of the 3.05 billion USD plan; this is also the highest result in recent years.
At the beginning of the year, the Ministry of Agriculture and Rural Development assigned the cashew industry an export turnover target of 3.8 billion USD; however, due to difficult market developments in the first half of 2023, the cashew industry asked to lower the target to 3.05 billion USD. .
The cashew export forecast for 2024 still leaves much room for export growth.
The Import-Export Department (Ministry of Industry and Trade) said that Vietnam’s cashew industry has well exploited traditional and potential markets. The cashew export forecast for 2024 still leaves much room for export growth.
In 2023, cashew exports to some major markets, such as the US, China, and the Netherlands, will record positive growth. Specifically, cashew exports to the US reached 885 million USD, an increase of 5% compared to 2022 and accounting for nearly 25% of the total export turnover of this item.
According to cyclical factors, Vietnam’s cashew export activities will be vibrant in the last months of the year. Demand for cashew nuts for the holidays will increase sharply. Vietnam’s cashew industry has great expectations after the visit of US President Joe Biden to Vietnam in September 2023.
Mr. Tran Huu Hau, Deputy General Secretary of the Vietnam Cashew Association (Vinacas), said that the Vietnamese cashew industry has had a foothold in the US for many years, and the demand for this market is quite stable.
After Vietnam-US upgrade relations, Vinacas hopes that cashew businesses will be able to access modern US technology and production lines to serve the new direction of the industry, which is to focus on processing. and exporting value-added products instead of cashew nuts like today.
In addition, cashew exports to China also recorded a breakthrough after the country lifted COVID-19 epidemic prevention measures, with turnover reaching 683 million USD, up 55% compared to 2022 and accounting for 19% of total turnover. cashew export.
Cashew exports to the Netherlands, the gateway to the EU market in 2023, will reach 353 million USD, an increase of 19% compared to 2022 and accounting for 10% of total cashew export turnover.
Other potential markets, such as Germany, England, the United Arab Emirates, etc., also recorded positive results in 2023.
Source: Thuongtruong Magazine
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