Cashew nuts. Photo by Pixabay
The U.S. bought cashew worth US$1.15 billion from Vietnam in 2024, or 98% of all its imports of the nut.
It was 30% higher than in 2023 and accounted for a quarter of Vietnam’s overall cashew exports of $4.34, up 19% from 2023.
For an 18th straight year Vietnam was the top cashew exporter, accounting for 80% of all global shipments.
Demand for the nut is increasing due to the rapid growth of the food processing industry, urbanization and changes in consumer habits, according to the Vietnam Cashew Association.
But Vietnam faces challenges such as dependence on imported raw cashew, high production costs and the impact of climate change on agriculture.
Though the demand for convenience foods presents a big opportunity, the country’s cashew industry needs to focus on upgrading technology and value chains to enhance its competitiveness.
