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Cashew processing line. Photo: illustrative photo

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Vietnam Customs as saying that Vietnam’s cashew nut exports in March is estimated at 55 thousand tons, with the turnover of US$289 million, up 106.8% in volume and 103.4% in value compared to February 2024, and up 10.7% in volume but down 2.2% in value compared to March 2023, but a decrease of 2.2% in value.

In the first quarter of 2024, Vietnam's cashew exports reached about 147 thousand tons, with the turnover of US$782 million, up 31.8% in volume and 20.5% in value compared to the same period in 2023.

According to estimates, Vietnam's average price of exported cashew reaches 5,248 USD/ton in March 2024, down 1.7% compared to February 2024 and down 11.6% compared to March 2023. In the first quarter of 2024, the price is estimated at US$5,329/ton, down 8.6% compared to the same period in 2023.

In the first two months of the year, Vietnam increased exports of most cashew types compared to the same period last year, except for WS/WB, SP, DW cashews.

According to preliminary statistics from the General Department of Vietnam Customs, in the first 2 months of the year, Vietnam mainly exported W320 and W240 cashew nuts, accounting for 56.71% of the total amount of exported cashew nuts. Therefore, growth in W320 and W240 cashew exports has a positive impact on the Customs industry’s performance.