Cashew exports reach 3.31 billion USD

The Import-Export Department ( Ministry of Industry and Trade ) cited data from the General Department of Customs, saying that it is estimated that Vietnam's cashew nut exports in November 2023 will reach 65 thousand tons, worth 358 million USD, up 1.1% in volume and 0.03% in value compared to October 2023; compared to November 2022, up 34.5% in volume and 30.7% in value.

In the first 11 months of 2023, our country's cashew nut exports are estimated at 582 thousand tons, worth 3.31 billion USD, up 23.1% in volume and 17.4% in value over the same period last year.

It is estimated that the average export price of Vietnam's cashew nuts in November 2023 will reach 5,512 USD/ton, down 12.6% compared to October 2023 and down 2.8% compared to November 2022. In the first 11 months of 2023, the average export price of Vietnam's cashew nuts will reach 5,682 USD/ton, down 4.7% compared to the same period last year.

In terms of variety structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for 63.51% of total volume and 69.84% of total export turnover of the country. Therefore, the export growth of the above cashew nuts has had a positive impact on the whole industry.

In terms of markets, the United States was Vietnam's largest cashew export market in the first 10 months of the year. However, China is emerging as an active buyer.

Specifically, in October 2023, cashew nut exports to China reached 14,854 tons with a value of more than 88.7 million USD, up 69.4% in volume and 77% in value over the same period last year. This output is the highest since the beginning of the year and helped China surpass the US to become the largest importer of Vietnamese cashew nuts in October.

In the first 10 months of the year, China spent more than 522.3 million USD to import 85,307 tons of cashew nuts, up 43.1% in volume and 47.2% in value over the same period last year. China accounted for 16.5% in output and 17.7% in turnover in the structure of Vietnam's cashew nut import markets in the first 10 months of 2023. The average export price to this market reached 6,123 USD/ton, up 2.8% over the same period.

According to industry experts, with the current technological development, Vietnamese cashew nuts are competing with other countries, especially those with strengths in raw cashew materials such as Ivory Coast. Therefore, the cashew industry needs to focus on processing quality and diversifying processed products to increase competitive advantage./.

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