Statistics from the General Department of Customs show that in 2024, Vietnam exported nearly 724,000 tons of cashew kernels, earning $4.34 billion. Compared to 2023, cashew exports increased by only 12.4% in volume but surged by 19.2% in value.

This also marks a record export for Vietnam's cashew industry, while maintaining its position as the world's number one exporter for the past 18 years, accounting for over 80% of the total global cashew kernel exports.

In 2024, the cashew industry also regained its position as a net exporter, with a trade surplus of $1.12 billion.

Regarding export markets, the US remains the largest customer. Notably, 2024 marked the first time in history that the US spent over $1.15 billion to import nearly 192,200 tons of cashew nuts from Vietnam. Accordingly, cashew nut exports to the US market increased by 21.3% in volume and 30.3% in value compared to the previous year.

Currently, this super-nutritious nut from Vietnam accounts for approximately 98% of the total value of cashew nut imports into the US. Furthermore, in 2024, the US market accounted for nearly 26.6% of Vietnam's total cashew nut exports.

According to the leaders of the Vietnam Cashew Association, the driving force behind the growth of the cashew market in general and the US market in particular is the development of the food processing industry, fueled by urbanization, changing consumer lifestyles, and the demand for convenient food.

Cashews are a superfood packed with vitamins, minerals, and antioxidants that help maintain healthy bodily functions. According to the U.S. Department of Agriculture 's National Nutrient Database, eating just 18 cashews a day provides 31% of the daily recommended intake of copper, 23% of manganese, 20% of magnesium, 17% of phosphorus, 10% of iron, 8% of selenium, and 5% of essential vitamins.

Therefore, cashews are widely used in the food processing industry to make snacks, confectionery, bread products, etc.

With this trend, the demand for cashew nuts from major markets, including the US, is likely to increase in the near future, creating export opportunities for Vietnamese businesses.

Vietnam spends nearly $2.3 billion importing cashews, but farmers cut down cashew trees to plant durian, leaving the minister heartbroken . Due to supply shortages, Vietnam has had to spend nearly $2.3 billion importing cashews in the past seven months. However, when asked about the reasons for cutting down cashew trees to plant durian, Minister Le Minh Hoan felt disheartened.