(HSV VIETNAM GROUP) – Every month our country earns hundreds of millions of dollars from this item.
Finished cashew nuts are produced by HSV Vietnam Group Joint Stock Company with top quality
According to preliminary statistics of the General Department of Customs, our country's cashew exports reached 64,310 tons with a value of more than 358 million USD in October, an increase of 13.3% in volume and an increase of 15.5% in value compared to September 2023. Overall, in the first 10 months of the year, our country exported 516,868 tons of cashew nuts with a value of more than 2.9 billion USD, a sharp increase of 21.8% in volume and 15.9% in value compared to the same period in 2022.
The average export price reached 5,712 USD/ton, down slightly by 5% compared to the same period in 2022.
Among the export markets of Vietnamese cashew nuts, the US is the leading market, and Vietnamese cashew nuts are also extremely popular in this country. Specifically, cashew nut exports to the US in the first 10 months of the year reached 129,805 tons with a value of more than 732 million USD, an increase of 8.4% in volume and an increase of 4.5% in value compared to the first 10 months of 2022, being one of the products that recorded positive growth in exports to the US.
The average export price to the US in the first 10 months of the year reached 5,646 USD/ton, down slightly by 3.7% over the same period.
Besides the US as the largest market, Vietnam's cashew nuts are also exported to China, the Netherlands and other European countries with very strong growth. Up to now, our country's cashew nuts have been present in more than 100 countries and territories around the world with export turnover increasing steadily over the years.
The United States is a leading cashew consuming country in the world and is a country with quite high quality requirements for goods imported into the country. Vietnamese cashew nuts are gaining a foothold in the US market with a fairly high competitive position. Compared to cashew nuts from other countries in the world, Vietnamese cashew nuts are considered to have superior quality.
In recent years, Vietnam's cashew kernel export turnover has always maintained the number one position in the world, with a value of about 3 billion USD/year. In 2022, Vietnam's cashew exports will reach 519,782 tons, worth 3.08 billion USD, down 10.3% in volume, down 15.1% in value compared to 2021. Vietnam continues to maintain the world's No. 1 position in cashew kernel exports for 16 consecutive years, accounting for 80% of total global output.
Vietnam is considered the world's leading cashew producer, with Binh Phuoc province considered the cashew "capital" of Vietnam, accounting for more than 50% of the country's area and 50% of the country's cashew output.
In Binh Phuoc area, there are currently more than 152,000 hectares of cashew nuts, with an output of 170,000 tons/year. Due to suitable natural conditions, at the same time, people are cultivating high-yielding cashew varieties, suitable for the ecological sub-region, applying new technical advances in intensive farming and care to help Binh Phuoc's cashew tree productivity reach high levels.
It is forecast that in the fourth quarter of 2023, Vietnam's cashew exports will increase thanks to cyclical factors and increased import demand from the US and EU to serve consumption during the year-end holidays. With the high growth of export results up to this point, it is almost certain that cashew exports for the whole year will exceed the target of 3.1 billion USD set at the beginning of the year, forecast to reach 3.3 billion USD.
Ha Diem HSV