4M exports of cashew nuts earn $1.16 bln

Vietnam exported 216,000 tons of cashew nuts in the first four months of 2024, earning $1.16 billion, according to the latest report from the Ministry of Agriculture and Rural Development.

The figures represent a year-on-year increase of 32.4% in volume and 21.2% in value.

Particularly, strong growth was recorded in exports to major markets like China, the Netherlands and the US.

The US remains the largest importer of Vietnamese cashew nuts with over 52,000 tons in the period, worth $280 million. It was followed by China with 31,500 tons, worth $175 million; and Netherlands with 13,700 tons, worth over $76 million.

The Vietnam Cashew Association forecasted that exports of cashew nuts of Vietnam will continue soaring in the second quarter as a result of higher global demand.

The sector targets an export revenue of $4 billion this year.

The global cashew nut market is estimated to post an average growth rate of 4.6% in 2022-2027 periods.