Cashew exports reached $3.31 billion.

According to data from the General Department of Customs, cited by the Import-Export Department ( Ministry of Industry and Trade ), Vietnam's cashew exports in November 2023 were estimated at 65,000 tons, worth US$358 million, an increase of 1.1% in volume and 0.03% in value compared to October 2023; and an increase of 34.5% in volume and 30.7% in value compared to November 2022.

Overall, in the first 11 months of 2023, Vietnam's cashew exports are estimated at 582,000 tons, worth 3.31 billion USD, an increase of 23.1% in volume and 17.4% in value compared to the same period last year.

The estimated average export price of Vietnamese cashew nuts in November 2023 reached US$5,512 per ton, a decrease of 12.6% compared to October 2023 and a decrease of 2.8% compared to November 2022. For the first 11 months of 2023, the average export price of Vietnamese cashew nuts reached US$5,682 per ton, a decrease of 4.7% compared to the same period last year.

In terms of product structure, Vietnam mainly exports cashew nuts of the W320, W240, and W180 varieties, accounting for 63.51% of the total volume and 69.84% of the total export value of the country. Therefore, the growth in exports of these cashew nut varieties has had a positive impact on the entire industry.

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

Specifically, in October 2023, cashew exports to China reached 14,854 tons with a value of over $88.7 million, an increase of 69.4% in volume and 77% in value compared to the same period last year. This volume was the highest since the beginning of the year and made China surpass the US to become the largest importer of Vietnamese cashews in October.

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

According to industry experts, with current technological advancements, Vietnamese cashews are facing competition from other countries, especially those with strong raw cashew production capabilities such as Ivory Coast. Therefore, the cashew industry needs to focus on processing quality and product diversification to increase its competitive advantage.

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