China massively buys cashew nuts from Vietnam

According to statistics from the General Department of Customs, in September 2023, Vietnam exported about 56.8 thousand tons of cashew nuts, earning 310 million USD, a sharp increase of 47.6% in volume and 31.8% in value compared to September last year.

In the first 9 months of this year, our country's cashew nut exports reached 452,600 tons, worth 2.59 billion USD, up 18.8% in volume and 13.5% in value over the same period in 2022. The average export price of cashew nuts reached 5,722 USD/ton, down 4.5% over the same period in 2022.

In the "billion-dollar export club" of the agricultural sector, cashew nuts are the item with the third highest growth rate, after vegetables and rice.

Regarding the market, in September, cashew nut exports to all traditional and potential markets increased sharply by 2-3 digits compared to September 2022.

Accordingly, China surpassed the US to become the largest customer of Vietnamese cashew nuts. Export value to China in September reached 73.2 million USD, up 107.6% compared to September last year.

Besides, cashew nut exports to the United Arab Emirates also recorded a sudden growth of 186.4%.

By the end of September 2023, except for Australia, our country's cashew exports to all markets grew strongly. For example, exports to the United Arab Emirates increased the most, by 57.1% over the same period last year; however, the export turnover was quite modest, reaching only 65 million USD.

The Chinese market recorded a growth rate of 42.3%, but our country's cashew nut export turnover to this market reached 433.8 million USD, second only to the US market.

According to cyclical factors, Vietnam's cashew nut export activities will be bustling in the last months of the year. The demand for cashew nuts for holidays and Tet will increase sharply. Cashew nut exports to the Chinese market recorded high growth rates, contributing to the overall export growth rate of this industry.

(Source: Vietnamnet)

Source: https://vtc.vn/trung-quoc-o-at-gom-mua-hat-dieu-cua-viet-nam-ar830216.html