AsemconnectVietnam - In 2024, the cashew industry set a new record for exports. Cashew exports in 2024 reached 730,000 tonnes, worth of 4.37 billion USD. This figure surpasses the record that the industry achieved of 3.63 billion USD in 2021.

The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs, saying that it is estimated that Vietnam's cashew nut exports in 2024 reached 730,000 tonnes, worth of 4.37 billion USD, up by 13.3% in volume and 20.2% in value compared to 2023. The average export price of Vietnam's cashew nuts reached about 6,003 USD/tonne in 2024, up by 6.1% compared to 2023.
According to Mr. Tran Huu Hau - Deputy General Secretary of the Vietnam Cashew Association - in the past year, despite facing many difficulties in terms of crops and markets, cashew exports were still among the 7 agricultural products exported over 3 billion USD of Vietnam with a record export turnover of 4.37 billion USD, up by 20.2% in volume and 13.3% in value compared to 2023. Vietnam continued to be the world's largest cashew nut exporter (for the 18th consecutive year) and accounted for over 80% of the world's total cashew nut export output.
Increasing demand is an opportunity for Vietnam's cashew industry to grow exports
Among European countries, Germany is the largest consumer of cashew nuts. Demand for cashew nuts as snacks in Germany is seasonal, peaking in winter and decreasing in summer. In addition, cashew nuts are increasingly used in the food and beverage industry.
Food and beverage manufacturers in the region have recently shown interest in cashew nuts, using them in cookies and cereals, as ice cream toppings, and to produce cashew butter. Cashew consumption is increasing due to the growing trend of healthy snacking. The use of cashew nuts in spreads and snack bars is increasing (especially organic products).
According to www.straitsresearch.com, the global cashew market size was valued at USD 7.78 billion in 2024, expected to reach 8.14 billion USD in 2025 and increase to 11.67 billion USD in 2033, growing at an average rate of 4.6% per year during the forecast period (2025 - 2033).
The growth driver of the cashew market is the development of the food processing industry, driven by urbanization, changing consumer lifestyles and demand for convenient foods.
Accordingly, cashews are widely used in the food processing industry to make snacks, confectionery, bakery products, etc. With this trend, the demand for cashew imports from major markets is likely to continue to increase in the coming time.
According to the Import-Export Department, in recent years, the Vietnamese cashew industry has maintained its leading position in the world in exporting cashew nuts for many consecutive years, while affirming the prestige of its brand in the international market. Vietnamese cashew nuts are now present on the shelves of over 90 countries and territories around the world, with export turnover growing steadily over the years.
Currently, there are more than 20 provinces and cities growing cashews, with a total area of over 300,000 hectares. Of which, Binh Phuoc is the province that grows the most cashew trees in Vietnam, with an area of over 150,000 hectares. This place has suitable soil conditions, fertile soil... easily helping cashew trees grow, develop, produce good seeds and high yields.
According to forecasts, the global cashew market will grow by an average of 4.6% in the period 2022 - 2027. The trend of favoring vegan and plant-based diets has increased the demand for nuts and processed foods from nuts, including cashews... This will be a good opportunity for the Vietnamese cashew industry to accelerate further in the coming time.
The US was Vietnam's largest cashew export market
In 2024, the US spent nearly 1.2 billion USD to buy Vietnamese cashews and accounted for 98% of the total cashew imports of this market.
Statistics from the General Department of Customs showed that in 2024, Vietnam exported nearly 724,000 tonnes of cashew nuts, earning 4.34 billion USD. Compared to 2023, cashew exports increased by only 12.4% in volume but increased sharply by 19.2% in value. This is also an export record for the Vietnamese cashew industry, while maintaining its No. 1 position in the world for the past 18 years, accounting for over 80% of the total global cashew kernel export output. In 2024, the cashew industry also regained its trade surplus position, with a trade surplus of 1.12 billion USD.
In terms of export markets, the US is still the largest customer. Notably, 2024 marked the first time in history that the US spent more than 1.15 billion USD to import nearly 192,200 tonnes of cashew nuts from Vietnam. Accordingly, cashew nut exports to the US market increased by 21.3% in volume and 30.3% in value compared to the previous year.
Currently, this super-nutritious nut from Vietnam accounts for about 98% of the total import value of this item in the US market. In the total export turnover of cashew nuts of our country in 2024, the US market accounted for nearly 26.6%.
Cashews are super nutritious nuts that contain a lot of vitamins and minerals, antioxidants that help maintain good body functions. According to the National Nutrient Database of the US Department of Agriculture, eating just 18 cashews a day may provide 31% of copper, 23% of manganese, 20% of magnesium, 17% of phosphorus, 10% of iron, 8% of selenium and 5% of vitamins needed by the body. Therefore, cashews are widely used in the food processing industry to make snacks, confectionery, bakery products.
In addition, the development of the food processing industry is driven by urbanization, changing consumer lifestyles and the demand for convenient food. It is forecasted that the demand for cashew imports from major markets, including the US, will likely increase in the coming time, creating export space for Vietnamese businesses.
CK
Source: VITIC/congthuong.vn