According to statistics from the General Department of Customs, in December 2023, Vietnam’s cashew nut imports reached nearly 112,000 tons, equivalent to 123.1 million USD, a decrease of 21.5% in quantity and 16.7% in value compared to November 2023.
For the whole year of 2023, Vietnam’s cashew nut imports reached over 2.76 million tons, worth nearly 3.2 billion USD, an increase of 46.2% in quantity and 19.6% in value compared to the same period last year. The average import price of cashew nuts in Vietnam reached 1,153 USD/ton, a decrease of 18.2% compared to the same period in 2022.
In terms of markets, Vietnam imports a large amount of cashew nuts from markets such as Cambodia, Ivory Coast, Ghana,… Among them, imports from Ivory Coast recorded the highest increase in 2023.
In particular, in December 2023, the import of cashew nuts from the African country reached nearly 50,000 tons, equivalent to 51 million USD, an increase of 112% in quantity and 100% in value compared to November 2022. In total, cashew nut imports from Ivory Coast in 2023 reached nearly 900,000 tons, worth nearly 970 million USD, an increase of 87% in quantity and 58% in value compared to the same period in 2022. The average import price for 12 months reached 1,078 USD/ton, a sharp decrease of 15.6% compared to the same period in 2022.
Ivory Coast is the largest supplier of cashew nuts to Vietnam in 2023, accounting for 32.5% of the quantity and 30.4% of the value in Vietnam’s cashew nut import structure.
Cambodia is the second largest cashew nut import market of Vietnam in 2023, accounting for 22.2% of the quantity and 26.2% of the value. Nigeria ranks third, supplying Vietnam with 267,000 tons of cashew nuts, equivalent to over 277 million USD in 2023.
On the contrary, Vietnam is also the world’s leading exporter of cashew nuts. In 2023, cashew nut exports reached 644,000 tons, equivalent to 3.6 billion USD, an increase of 24% in quantity and 18% in value compared to 2022. With this result, the cashew industry exceeded the 3.05 billion USD target by 18%, and this is also the highest result in recent years.
Currently, the cashew growing area in Vietnam is only about 300,000 hectares, providing about 30% of the raw materials for processing needs of businesses, so factories and enterprises still have to import a large amount of cashew nuts for processing.
Binh Phuoc province has a large cashew growing area, accounting for nearly 50% of the country’s total area, so it is considered as the cashew capital of Vietnam. Cashew trees account for over 30% of the total area of perennial trees and over 33% of the total area of agricultural production in the province.
The cultivated area of the province reaches over 150,000 hectares, mainly concentrated in large specialized areas in districts such as Bu Dang, Bu Gia Map, Phu Rieng, and Dong Phu. The estimated output is nearly 200,000 tons, meeting the processing demand with a capacity of 20-30%, the remaining is mainly imported.
Cashew nuts provide many good nutrients. Cashew nuts contain many unsaturated fats, protein, vitamins, and minerals. This type of nut helps reduce LDL cholesterol, reduce the risk of cardiovascular disease, enhance the immune system, and can also help with weight loss, reduce the risk of cancer, diabetes, etc.
