(VNF) – Vietnamese cashew nuts are dominating the US market with nearly 89.4% of the country’s total import value. Our country has also earned nearly 3.6 billion USD in the past 10 months.

Preliminary statistics from the General Department of Customs show that in the past 10 months, our country has exported 613,500 tons of cashew nuts, earning nearly 3.6 billion USD. Compared to the same period last year, the amount of exported cashew nuts increased by 18.5% and the value increased by 22.1%.

The export price of this super-nutritious nut from Vietnam has also increased sharply since the beginning of the year, from 5,394 USD/ton to 6,407 USD/ton.

Cashew trade surplus in the first 10 months of 2024 increased dramatically by 3,881% compared to the same period in 2023.

Currently, Vietnam is still firmly in the top position in the world in cashew nut exports when exporting to 90 countries and territories. By the end of September 2024, cashew nut exports to most markets increased sharply.

Of which, the US is the largest customer of Vietnamese cashew nuts. In the first 9 months of this year, exports to this market reached over 150,400 tons, earning 871.3 million USD. The amount of cashew nuts exported to the US increased by nearly 30%, while the value increased by 32.8% compared to the same period in 2023.

Accordingly, the US market accounted for 27.7% of the total export value of cashew nuts of our country in the first 9 months of 2024, an increase of 2.4 percentage points compared to the same period last year.

Data from the US International Trade Commission shows that in the first 8 months of 2024, the country spent 554.2 million USD to import about 101,300 tons of cashew nuts from Vietnam. Compared to the same period in 2023, the amount of cashew nuts imported from Vietnam increased by 21.4%, the value increased by 16%.

Notably, this strength of Vietnam is occupying an “unprecedented” position in the US market when accounting for 89.4% of the total cashew nut imports of this country.

Cashew industry experts predict that in the last months of this year, cashew nut exports will increase sharply due to cyclical factors and an upward trend in export prices. The Vietnamese cashew industry is also expected to set a historical record with an export turnover of 4 billion USD in 2024.