Import prices of this product have decreased sharply in the first 7 months of the year.

According to preliminary statistics of the General Customs Department, Vietnam's imported nuts in July 2023 reached 363,435 tons with a turnover of more than 392.36 million USD, an increase of 16.1% in volume and an increase of 11.6% in volume. % in value compared to June 2023. Overall, in the first 7 months of the year, Vietnam imported more than 1.72 million tons of cashew nuts with a turnover of more than 2.11 billion USD, a sharp increase of 26.5% in volume and an increase of 6.8% over the same period in 2022.

The average import price in the first 7 months of the year reached 1,230 USD/ton, down 15% compared to the same period in 2022.

Among cashew suppliers to Vietnam, Cambodia is the country where Vietnam imports the most cashew nuts with 587,160 tons in the first 7 months of the year, a turnover of more than 802.3 million USD, down 14% in volume and down 23% in value over the same period in 2022. The country accounts for more than 34% in value and 38% in value of Vietnam's import base configuration.

Note that Vietnam is increasing imports of this product from Ivory Coast with output and turnover skyrocketing in the first 7 months of the year. Specifically, Vietnam spent more than 476.9 million USD to import 409,093 tons of cashew nuts from Ivory Coast, an increase of 60.18% in volume and 41.76% in value over the same period last year.

Giá nhập khẩu mặt hàng này từ Bờ Biển Ngà cũng đã giảm mạnh so với cùng kỳ năm trước, đạt 1.165 USD/tấn, giảm 14% so với cùng kỳ năm 2022.

Ivory Coast is Vietnam's second largest cashew supplier, accounting for 23.7% in volume and 22.6% in value of Vietnam's total cashew imports. In 2022, our country imported 482,659 tons from this country with a turnover of more than 616 million USD, so it can be seen that the import volume in the first 7 months of the year has nearly surpassed the figure of the whole year 2022 combined.

According to Nation Master, Ivory Coast is currently the world's largest cashew supplier, leading output with nearly 800,000 tons in 2022. Followed by India, Burundi and Vietnam. Regarding Vietnam's output, in 2022, the total cashew area in the country remains stable at 305,000 hectares. The average yield is 1.25 tons/ha, the output of raw cashew nuts (dried nuts) is estimated at 370,000 tons.

With cashew output only meeting about 30% of raw materials for processing needs from businesses, Vietnam still has to increase cashew imports from other countries such as Cambodia, Ivory Coast, Ghana and Indonesia,... On the contrary, Vietnam is also the world's leading cashew exporter. Specifically, in the first 7 months of the year, cashew exports reached 334,870 tons, bringing in more than 1.94 billion USD, up 13.3% in volume and 9.7% in value compared to the same period in 2022. Export prices Average export in the first 7 months of the year reached 5,805 USD/ton, down 3% over the same period last year. Since 2006, with a turnover of 520 million USD, Vietnam has officially been the number 1 cashew exporting country in the world.

In 2023, the Vietnam Cashew Association (Vinacas) sets a target of cashew export reaching 3.1 billion USD, a slight increase of 30 million USD compared to 2022.