Although cashew is among the top billion-dollar export items, this industry is facing many challenges that need to be overcome soon.
According to the General Department of Customs, in September 2024, Vietnam exported over 57,000 tons of cashew, worth 372.16 million USD. This was a decrease of 11.6% in volume but an increase of 8.9% in value compared to August 2024. And compared to September 2023, this was an increase of 0.6% in volume and 20.2% in value.
In the first 9 months of 2024, Vietnam exported 543.5 thousand tons of cashew, worth 3.15 billion USD. It was an increase of 20.1% in volume and 21.7% in value compared to the same period last year. In the last months of the year, cashew exports are expected to increase significantly due to cyclical factors and rising export prices.
In September 2024, the average export price of Vietnamese cashew nuts reached 6,522 USD/ton, an increase of 3.1% compared to August 2024 and 19.5% compared to September 2023. In the first 9 months of 2024, the average export price was 5,797 USD/ton, a decrease of 1.3% compared to the same period last year.
Why is it necessary to untie the knot for the cashew industry?
Compared to the same period last year, Vietnam has increased cashew exports to the US, the Netherlands, the UAE, the UK, and Canada. However, exports have decreased to China, Germany, Australia, Saudi Arabia, and Spain.
In the first 9 months of 2024, Vietnam increased cashew exports to most traditional and potential markets, except for Saudi Arabia, which decreased by 3.0% in volume but increased by 5.5% in value.
Mainly exported cashew varieties were W320, W240, and W180, accounting for 65.02% of the total volume and 71.5% of the total export value. The growth in the export of these types of cashew has positively impacted the entire industry.
According to the General Department of Customs, the export of W320 cashew in the first 9 months of 2024 reached 207.42 thousand tons, worth 1.27 billion USD. This was an increase of 7.3% in volume and 7.8% in value compared to the same period last year. Similarly, Vietnam significantly increased the export of W240 and W180 cashew, with growth rates of 36% and 92.8% in volume, and 45.5% and 74.2% in value compared to 2023.
In recent years, the Vietnamese cashew industry has maintained its position as the world’s leading exporter of cashew kernels. Vietnamese cashew kernels are now present in over 90 countries and territories, with export turnover consistently growing year after year.
One of the advantages that enhances the position of the Vietnamese cashew industry is the world’s most advanced processing technology, produced by Vietnamese people. Currently, the cashew industry has about 500 production and processing enterprises, with a capacity of about 4 million tons of raw cashew nuts per year.
It is noteworthy that, despite being the world’s leader in cashew nut export value for many years, Vietnam has had to increase the import of raw cashew nuts in recent years. About 90% of the raw materials for processing are from Africa and Cambodia.
Experts said that finding solutions to overcome challenges for the Vietnamese cashew is not only an urgent issue for businesses but also related to the sustainable development of the entire industry. Appropriate decisions from the authorities will contribute to enhancing the status of the Vietnamese cashew industry and creating more favorable conditions for the production and export of cashew nuts to other countries.