Vietnam Spends Over $3 Billion on Raw Cashews in Almost 7 Months

Vietnam imported 1.81 million tons of raw cashews by July 15. This is 4% more than last year. The value is 12.3% higher.

Cambodia is Vietnam's biggest supplier of raw cashews. It provides 54.2% of the total volume and 56.3% of the total value.

Vietnam got 980,700 tons of cashews from Cambodia. This is worth over $1.7 billion. The volume is up 10.3% and the value is up 25.9%.

Vietnam is the world's largest exporter of cashew kernels. But local supplies are not enough for the industry, so businesses import a lot of raw cashews.

After processing, the cashews are made into kernels and other products. These are then exported to big markets like the US, China, and Europe.

Cashew nuts are a major product.

By July 15, Vietnam had exported nearly 373,800 tons of cashew products. This made almost $2.63 billion in revenue.

Compared to last year, export volume is a bit lower. But export value is up 3.1%.

Vietnam's cashew industry still has a trade deficit. This is because demand for materials is high, but local supplies are not enough to meet the processing needs.

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