Vietnam near to cracking US$2 billion in cashew nut exports

Cashew nuts are one of 24 products with an export value exceeding US$1 billion during the first half of this year, reaching nearly US$2 billion, a year-on-year rise of 7.5%.

According to statistics from the General Department of Vietnam Customs, the country shipped 32,700 tons of cashew nuts to fetch US$286.6 million in July, up 1.3% in volume but down 2.2% in value compared to June. The total volume of shipments during the first 7 months of this year hit 207,600 tons with a value of US$1.98 billion, up 10.8% on volume and 7.5% in value with an average export price of US$9,549.95 per ton, down 2.97%.

The US, the Netherlands and China were the largest consumers of Vietnam’s cashew nuts, accounting for 60.8% of the country’s total export value. The US was the top export market, buying 79,900 tons worth US$766 million (up 18.02% in volume and 12.7% in value), trailed by the Netherlands with 24,600 tons valued at US$249.9 million (down 14.28% in volume and 12.23% in value) and China with 21,700 tons worth US$205.2 million (down 2.27% in volume and 4.96% in value).

The overall performance of cashew nut exports was positive, with growth reported in 74% of export markets in the reviewed period. Particularly strong performers included Ukraine, growing 2.09 times in volume and 3.22 times in value, and Greece, rising 2.03 times in volume and 96.68% in value.

Conversely, exports to Pakistan dropped 93.49% in volume to 14 tons and 94.02% in value to US$131,300.