Mr. Vu Thai Son, Chairman of the Binh Phuoc Cashew Association, said that numerous cashew processing plants are running at full capacity to meet delivery deadlines. In 2023, the cashew industry achieved outstanding growth, with total export turnover reaching US$3.63 billion, marking a 17 percent increase in value and a 23 percent rise in volume compared to 2022. Vietnam's cashew exports continue to dominate the global market, maintaining the top position for the 16th consecutive year and accounting for 80 percent of the total global cashew export volume.
The export turnover of the cashew industry in 2024 is expected to witness substantial growth as numerous enterprises effectively explore the Chinese and US markets. Presently, the US stands as the largest consumer market for Vietnamese cashews, constituting 25 percent of the total export turnover, followed by China at 19 percent. Furthermore, there is a growing interest in emerging markets like Europe and India.
