Vietnam's cashew nut exports in October 2023 hit a new record

The Import-Export Department ( Ministry of Industry and Trade ) cited statistics from the General Department of Customs, saying that in October 2023, Vietnam's cashew nut exports recorded a new record high of 64.32 thousand tons, worth 358.18 million USD, up 13.3% in volume and 15.5% in value compared to September 2023, up 47.7% in volume and 37.1% in value compared to October 2022.

Vietnam's cashew nut exports in October 2023 hit a new record

In the first 10 months of 2023, Vietnam's cashew nut exports reached approximately 516.87 thousand tons, worth 2.95 billion USD, up 21.8% in volume and 15.9% in value over the same period last year.

In October 2023, the average export price of Vietnam's cashew nuts reached 5,569 USD/ton, up 2.0% compared to September 2023, but down 7.2% compared to October 2022.

In the first 10 months of 2023, the average export price of cashew nuts from Vietnam reached 5,703 USD/ton, down 4.8% over the same period in 2022.

In October 2023, cashew exports to most traditional and potential markets increased sharply compared to the same period in 2022.

Notably, cashew nut exports to the Netherlands, Germany, UK and United Arab Emirates markets increased sharply.

In general, in the first 10 months of 2023, cashew nut exports to all major markets increased in volume, while in terms of export value, only the Australian market decreased.

Of which, cashew nut exports to the US market reached 733 million USD, up 4.7% over the same period last year; to the Chinese market reached 522.3 million USD, up sharply 46.6%.

Next, exports to the Netherlands reached 295 million USD, up 19.8%; to Germany reached 99 million USD, up 8.4%; to Thailand increased 10.2%; to Saudi Arabia increased 36.1%; exports to Canada, the United Arab Emirates and the UK increased 9.3%, 59.9% and 7.3% respectively.

In the world market, according to statistics from the Indian Ministry of Commerce, the country's cashew nut exports in the first 8 months of 2023 reached 41.1 thousand tons, worth 244.5 million USD, up 26.1% in volume, but down 0.6% in value compared to the same period last year.

In the first 8 months of 2023, India exported cashew nuts to 53 countries and territories around the world. Of which, India's main cashew nut export markets include: United Arab Emirates, Vietnam, Japan, Netherlands, Saudi Arabia...

Notably, India's cashew nut exports to Vietnam have grown at a triple-digit rate. India mainly exports fresh/dried unshelled cashew nuts (HS 080131) to Vietnam.

According to statistics from Eurostat, in the first 8 months of 2023, the Netherlands imported approximately 39.17 million tons of cashew nuts from the non-EU market, worth 226.55 million EUR (equivalent to 242.18 million USD), up 1.7% in volume, but down 9.7% in value compared to the same period last year. In particular, the Netherlands reduced cashew nut imports from Vietnam and India, but increased from Ivory Coast, Burkina Faso and Brazil.

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