In 9 months of 2023, Vietnam’s cashew nut exports reached 452.6 thousand tons. China, the United States, and the Netherlands were three of the 10 largest cashew buyers of Vietnam.
According to statistics from the General Department of Customs, in September 2023, Vietnam’s cashew exports reached approximately 56.8 thousand tons, worth over 310 million USD. This result was down by 6.3% in volume and 7.1% in value compared to August 2023 but increased by 47.6% in volume and 31.8% in value compared to September 2022.
In the 9 months of 2023, Vietnam’s cashew nut exports reached 452.6 thousand tons, worth 2.59 billion USD. This was up by 18.8% in volume and 13.5% in value over the same period last year.
In September 2023, the average export price of Vietnam’s cashew nut was 5,459 USD/ton, which was down by 0.9% compared to August 2023 and 10.7% compared to September 2022. In the 9 months of 2023, Vietnam’s average export price of cashew was 5,722 USD/ton which was down by 4.5% over the same period in 2022.
China passed the US to become the largest customer of Vietnam’s cashew nuts.
Vietnam’s 10 largest cashew nut buyers include China, the US, the Netherlands, Germany, the UK, Australia, the UAE, Canada, Saudi Arabia, and Thailand. Both traditional and potential markets increased sharply compared to September 2022.
Notably, in September, China spent twice as much as the same month last year to massively buy cashew nuts from Vietnam. This market has become a major customer of Vietnam’s cashew industry in the past month.
Specifically, China passed the US to become the largest customer of Vietnam’s cashew nuts. The value of exports to China in September reached 73.2 million USD, an increase of 107.6% compared to September last year.
In addition, cashew exports to the UAE also recorded a sharp increase of 186.4%.
By the end of September 2023, except for Australia, Vietnam’s cashew exports to all markets have grown strongly. For example, exports to the UAE increased the most with 57.1% over the same period last year. However, the export turnover was quite low, reaching only 65 million USD.
The Chinese market recorded a growth rate of 42.3%, but Vietnam’s cashew exports to this market amounted to 433.8 million USD, only after the US market.
According to the cyclical factor, Vietnam’s cashew export activities will be vibrant in the last months of the year. Demand for cashew nuts for holidays will increase sharply. Cashew nuts exports to the Chinese market with high growth will contribute to the overall export growth of this industry./.