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America hunts for Vietnam's 'treasure' seeds: Only 1/10 regions in the world produce the best quality, earning hundreds of millions of dollars every month

20 Dec 2023

America hunts for Vietnam's 'treasure' seeds: Only 1/10 regions in the world produce the best quality, earning hundreds of millions of dollars every month

(HSV VIETNAM GROUP) - America hunts for Vietnam's 'treasure' seeds: Only 1/10 regions in the world produce the best quality, earning hundreds of millions of dollars every month.

This type of nut has seen a strong growth of 23% in volume in the first 11 months of the year. According to preliminary statistics from the General Department of Customs, Vietnam's cashew nut exports in November reached 64,148 tons with a value of more than 352 million USD, down 0.3% in volume and down 1.6% in value compared to the previous month. Accumulated in the first 11 months of the year, our country earned 3.3 billion USD from cashew export, export volume reached 581,039 tons, up 22.9% in volume and 17.2% in value compared to the same period last year.

Regarding the market, the US is the largest market for Vietnamese cashew nuts. Specifically, in the first 11 months of the year, this country imported 144,280 tons of cashews from our country worth more than 810 million USD, an increase of 10% in volume and an increase of 5.3% in value compared to the same period in 2022.

The average export price reached 5,630 USD/ton, down 4.1% over the same period in 2022.

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Besides the US, Vietnamese cashew nuts are also exported to many other markets such as China and Europe and are currently present in more than 90 countries and territories. Regarding the type structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for 63.51% of the total volume and 69.84% of the country's total export turnover.

The cashew tree, also known as Anacardium occidentale, originates from the Northeast region of Brazil. The plant grows wild on beaches and some wastelands. Since the 16th century, the Portuguese brought cashew trees and planted them in India, Malaysia and some East African countries. Today cashew trees are widely grown in tropical Asian countries.

Due to its characteristics, only tropical climate regions with latitudes from 30 degrees North to 30 degrees South will produce the best yield and flavor. Up to now, cashew nuts have been grown and produced in more than 32 countries around the world. India is the country with the largest cashew growing area in the world, followed immediately by Brazil, Vietnam, African countries such as Ivory Coast, Tanzania, Guinea Bissau, Benin, Nigeria, Mozambique,...

Vietnam is one of the countries with a tropical monsoon climate and fertile soil that is very suitable for the growth of cashew trees, so our country has been the place with the world's leading raw cashew nut production. However, in each geographical region in Vietnam, the results of output and quality of cashew nuts are quite different because the distribution of climate and soil characteristics continues to be different. But in general, the cashew season in Vietnam has relatively good results.

Regarding the US market, this is a leading cashew consuming country in the world and is a country with quite high quality requirements for goods imported into the country. Compared to cashew nuts from other countries in the world, Vietnamese cashew nuts are considered to have superior quality by experts and consumers here.

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.

Binh Phuoc province is considered the cashew "capital" of Vietnam, accounting for more than 50% of the 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 and people cultivating high-yielding cashew varieties suitable for the ecological sub-region, applying new technical advances in intensive farming, Binh Phuoc's cashew crop productivity is always at a high level.

Ha Diem HSV

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