Vietnam’s cashew industry has reaffirmed its position as a global trade leader, achieving record exports of 669,000 tonnes valued at $3.98 billion in the first 11 months of 2024. This marks a 15.2% increase in volume and a 20.6% rise in value compared to the same period last year, underscoring the sector’s resilience and growing demand for Vietnamese cashews worldwide.
Vietnam has consistently maintained its status as the world’s leading exporter of cashews, with annual export revenues ranging from $3-4 billion. The industry’s focus on premium-grade varieties such as W320, W240, and W180, which account for over 70% of export value, has played a pivotal role in solidifying its global reputation.
Despite the reliance on imported raw materials, which contribute significantly to processing activities, Vietnam’s cashew sector continues to thrive as a cornerstone of its agricultural trade. This year, the trade surplus is expected to surpass $1 billion, reflecting efficient supply chain management and robust export strategies.
Looking ahead, industry stakeholders are emphasizing the importance of expanding domestic cultivation areas and investing in advanced processing technologies. These initiatives aim to enhance Vietnam’s position in the global value chain and ensure the sector’s long-term sustainability.
The Vietnam Cashew Association has also called for policy adjustments to streamline raw material imports, particularly from key suppliers in Africa, while fostering innovation to maximize the value of processed exports.
With export revenue projected to reach $4.3 billion by the end of 2024, Vietnam’s cashew industry continues to play a vital role in strengthening the nation’s agricultural trade footprint, contributing significantly to its global economic partnerships.
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