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  • Exciting cashew export 10/08/2023

    Oct 8th, 2023

    In the first 9 months of 2023, our country's cashew export is estimated to reach 456 thousand tons, worth 2.6 billion USD, up 19.6% in volume and 14.3% in value over the same period last year. last. Thus, in the first 9 months of 2023, cashew exports recorded double-digit growth compared to the same period last year. The Import-Export Department said that according to cyclical factors, Vietnam's cashew export activities will be vibrant in the last months of the year. Cashew exports set a record in value in 2021, with 3.63 billion USD. In 2022, Vietnam's cashew exports will reach 519,782 tons, worth 3.08 billion USD, down 10.3% in volume, down 15.1% in value compared to 2021. Vietnam continues to maintain its position Number 1 in the world for 16 consecutive years in cashew kernel exports, accounting for 80% of total global output. It is forecast that in the third and fourth quarters of 2023, Vietnam's cashew exports will increase thanks to cyclical factors and increased import demand from the US and EU to serve consumption during the year-end holidays. With high export growth results, it is almost certain that cashew exports for the whole year will exceed the target of 3.1 billion USD set at the beginning of the year, forecast to reach 3.3 billion USD, although it has not yet been recovered. record milestone. In 2023, the Vietnam Cashew Association (Vinacas) sets a target of cashew export reaching 3.1 billion USD, an increase of 20 million USD compared to 2022. With the results achieved and prospects from the market, the forecast is The set goal will be accomplished. However, according to Vinacas, besides favorable factors, the cashew industry still faces many challenges. Most cashew processing enterprises are not proactive in raw material sources; The supply of raw cashew nuts only meets about 30% of the province's processing capacity, while 70% of raw cashew nut materials depend on imported supplies from Indonesia, Cambodia, and Africa. The connection between businesses and farmers in the production-processing-business chain is not tight; Many cashew processing facilities are on a very small scale and have limited financial potential. To promote the development of the cashew industry, Mr. Bach Khanh Nhut - Vice Chairman of the Vietnam Cashew Association said that businesses in the cashew industry need to shift strongly to deep processing with diverse products, meeting the needs and markets. different tastes of the "end consumer". On the other hand, cashew processing enterprises need to focus on investing in developing raw material areas; Support and sign purchasing contracts with cashew growers to have an unstable source of raw materials. Thereby, reducing dependence on raw material supplies from abroad, improving the competitiveness of our country's cashew processing exports.