Vietnam Spends Nearly $2.3 Billion on Cashew Nuts in Over 7 Months

According to preliminary statistics from the General Department of Customs, as of August 15, Vietnam had exported nearly 451,600 tons of cashew kernels, earning $2.55 billion. Compared to the same period last year, the volume of exported cashew kernels increased by 25.2%, while the value increased by 22.6%. This impressive growth is largely due to the efficiency of export services, helping Vietnamese businesses access and expand market share in the international market. Freight forwarding companies have played an important role in optimizing the export process and minimizing logistics costs.

Vietnam Spends Nearly $2.3 Billion on Cashew Nuts in Over 7 Months

In the first 7 months of 2024, Vietnam exported 421,500 tons of cashew nuts, valued at $2.36 billion. To meet this surge in transportation demand, logistics companies have had to continuously innovate and expand their cargo transportation capacity. Customs declaration services have also been upgraded to ensure fast and efficient clearance processes, contributing to accelerating cashew nut exports.

Vietnam currently ranks first in the world for cashew nut exports. However, about 90% of the raw materials for Vietnam’s cashew industry are imported from Africa and Cambodia. In response to this situation, international transportation service providers are rushing to upgrade their systems to meet the growing demand for raw material transportation. Multimodal transport companies are developing integrated solutions to optimize the cashew nut transportation process from supplying countries to Vietnam.

According to data from the General Department of Customs, in the first 7 months of 2024, Vietnam imported more than 1.78 million tons of raw cashew nuts. Sea transport has become the backbone of the supply chain, effectively connecting cashew growing regions in Africa and Cambodia with processing plants in Vietnam.

The heavy reliance on imported raw materials has caused significant challenges for Vietnam’s cashew industry. In the process of transporting cashew nuts from distant countries, container shipping is proving to be the optimal solution, ensuring product quality and economic efficiency.

Recently, the Binh Phuoc Cashew Association had to call for help due to the widespread sale of low-quality goods falsely using the province’s cashew brand name on the internet. Forwarding companies are actively supporting businesses in controlling the quality of imported raw materials and protecting the Vietnamese cashew brand.

To address current challenges, Vietnam’s cashew industry needs a sustainable development strategy, including expanding domestic cashew cultivation areas and improving processing quality. The support of professional import-export services will be a crucial factor in helping Vietnam’s cashew industry overcome supply difficulties and maintain its world No. 1 position in cashew nut exports in the coming time.