In 2024, the United States spent over 1.15 billion USD to import nearly 192,200 tons of cashews from Vietnam, a record for the country.

Statistics from the General Department of Customs show that in 2024, Vietnam exported nearly 724,000 tons of cashew nuts, worth 4.34 billion USD. Compared to 2023, cashew exports increased by 12.4% in volume and 19.2% in value.

This is also a record export achievement for Vietnam’s cashew industry. At the same time, the country maintained its position as the world’s No. 1 for the past 18 years, accounting for over 80% of the global cashew export volume. In 2024, the cashew industry also regained a trade surplus, with 1.12 billion USD.

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

The demand for importing cashew nuts in major markets is likely to continue increasing in the coming years.

Currently, this super-nutrition nut from Vietnam accounts for about 98% of the total import value of this item in the US market. In the total export turnover of cashew nuts of Vietnam in 2024, the US market accounts for nearly 26.6%.

According to the Vietnam Cashew Association, the reason Vietnam dominates and maintains its position as the world-leading exporter of cashew kernels is due to the highly developed process of raw cashews for exports. It has a rapid modernization pace, with modern machinery largely replacing manual labor in the processing line. Currently, Vietnam’s total cashew processing capacity is about 2 million tons per year and is continuously increasing quickly.

Meanwhile, processing cashew nuts into food has also received attention and investment, gradually increasing its share over the years. But generally, in the global cashew value chain, Vietnam mainly exports low-value, semi-processed cashews, while the finished cashews reaching consumers have not developed. So, Vietnam only accounts for about 30% of the cashew industry’s value chain.

According to the Ministry of Agriculture and Rural Development, there are currently more than 20 provinces and cities in Vietnam that cultivate cashew, covering a total area of over 300,000 hectares. Among them, Binh Phuoc is the province with the largest cashew cultivation area in Vietnam, with more than 150,000 hectares. This place has suitable soil conditions that easily help cashew trees to grow, produce good nuts, and achieve high yields.

The Vietnam Cashew Association said: The demand for cashew nut imports in major markets is likely to continue increasing in the coming years, creating export opportunities for Vietnamese suppliers.

In the world, the trend of healthy snacking is on the rise. Consumers are now focusing on nutritious nuts that have health-beneficial ingredients. Therefore, the increasing demand for cashew nuts has created an opportunity for Vietnam’s cashew industry to develop further.