Cashew exports from Vietnam reach new record level
20-Mar-2025 08:08 PM
Hanoi. The export of processed cashews from Vietnam, a country located in South-East Asia, increased to a new record level of 7.30 lakh tonnes in the year 2024, generating a fantastic income of $4.37 billion.
Along with this, there was an increase of 13.3 percent in the export quantity of cashew and 20.2 percent in export income during 2024 as compared to the year 2023.
It is noteworthy that Vietnam has remained the world's leading exporter of cashew for the last 18 consecutive years, while its position on this position has become even stronger in the year 2024. Vietnam's share in the global export market of cashew kernel has increased to close to 80 percent.
According to a leading organization Vinacas, despite many challenges on the production and market front, cashew exports from Vietnam are increasing regularly and cashew has now become one of the highest foreign exchange earning products. Its export earnings have already crossed the $3 billion mark.
During the year 2024, an increase was recorded in the export of cashew from Vietnam to all major buyer countries.
Under this, Vietnamese cashew exports to the US increased by a spectacular 30.4 percent in 2024 as compared to 2023, while its shipments to the countries of Asia and Europe also increased significantly.
According to the data received, 1,17,420 tonnes of cashew was imported from Vietnam to the US in the year 2023, which jumped by 31.6 percent to 1,79,480 tonnes in the year 2024.
During this period, the export earnings of cashew also increased by 14.4 percent from $687.84 million to $1.07 billion.
The global trade of cashew reached a high of $7.78 billion in the year 2024, while it is estimated to increase further to $8.14 billion in the year 2025. It is estimated to jump to $11.67 billion by the year 2033.
Its demand and consumption is constantly increasing as a healthy and convenient food product (dry fruit).
Although India is the largest producer of raw cashew, it is far behind Vietnam in the export of processed cashew kernels - at number two.
The reason for this is that most of the cashew produced in India is consumed in the domestic sector itself, due to which less stock remains for export.