According to the General Department of Customs , in the first 7 months of 2024, Vietnam spent more than one billion USD to import nearly 786,530 tons of raw cashew nuts from Cambodia, up 34.1% in volume and 26.3% in value over the same period last year.
Notably, the proportion of cashew nuts from Cambodia accounted for 47.2% of Vietnam’s cashew import turnover, which was an increase of 9.6 % over the same period in 2023. With 786,530 tons, Vietnam purchased almost all (95%) of Cambodia’s total raw cashew nut production in the first 7 months of 2024.
Meanwhile, in the past 8 months, Vietnam exported about 478,000 tons of cashew nuts, with a turnover of more than 2.77 billion USD, an increase of 22.9% in volume and 21.7% in value over the same period of 2023.
It is clear that Vietnam is still the leading producer and exporter of cashew nuts in the world. So, why did Vietnam have to import cashew nuts from other countries, especially Cambodia in recent months?
Vietnamese cashew nuts are favored by many markets around the world.
Representatives of the Vietnam Cashew Association warned that, if Vietnam is not proactive in the supply of raw materials, the world’s No. 1 position in this industry may be changed. Facing difficulties in increasing the area, enterprises in the cashew industry in Vietnam can cooperate, exploit, and develop raw material areas in Cambodia and Southern Laos. Enterprises will then import this source of raw cashew nuts back to Vietnam for processing.
According to the Cambodian Cashew Association, the country has become the second-largest producer of raw cashew nuts in the world, with an output reaching 830,000 tons in 7 months of 2024.
Through the National Policy on cashew nuts in the period from 2022 to 2027, Cambodia is striving to affirm its position as one of the leading cashew nut producers and exporters. Cambodia’s cashew processing capacity is expected to increase from 5% to 25% by 2027 and at least 50% by 2032. In recent years, Cambodia’s cashew industry has developed rapidly and become the largest supply for Vietnam.