March alone witnessed Vietnam export 16,139 tonnes of cashew nuts worth US$86.8 million to the US market, marking an increase of 23.3% in volume and 51.8% in turnover on-year with the average export price dropping by 9% to US$5,315 per tonne on-year.

China ranked second by importing 23,537 tonnes of the products from the Vietnamese market in the first quarter of the year, representing a sharp increase of 102.5% in volume and 74.5% in value. 

The Netherlands was the third largest consumer of Vietnamese cashew throughout the reviewed period as Vietnam supplied 10,285 tonnes of cashew nuts worth more than US$57.4 million to the European country, up 3.5% in volume but down 5.3% in turnover against the same period from last year.

At present, the country has held the leading position in the world for 16 consecutive years for cashew nut exports, accounting for nearly 80% of total global output.

Statistics indicated that during the three-month period, Vietnam raked in US$808.8 million from exporting 150,683 tonnes of cashew nuts, representing a rise of 35.4% in volume and 24.6% in turnover compared to the same period from last year.

The average cashew export price throughout the reviewed period declined by nearly 8% to US$5,368 per tonne on-year. Experts predict that there are bright prospects ahead for the cashew industry as the global market is forecast to grow by an average of 4.6% in the 2022 to 2027 period.

VOV