Vietnam: Coffee and cashew nuts set new export records

The article reports on Vietnam's agricultural exports reaching record highs in 2023 and 2024. The cashew industry exported over 3.64 billion USD in 2023, with the EU, US, and China being the largest markets, accounting for over 90% of exports. The average export price of cashew nuts increased by 3% in the first 10 months of 2024, reaching 5,873 USD/ton. On the other hand, the coffee industry surpassed 5 billion USD in export turnover for the first time in 2023 and 2024, with the average export price of coffee reaching a historic high of 5,720 USD/ton in October 2024, an increase of 59% over the same period in 2023.

Baochinhphu.vn reported that the first time the cashew industry exported more than 3 billion USD was in 2017. From then until 2023, the export turnover of cashew nuts has always been maintained at a level of more than 3 USD to nearly 4 billion USD. In which, the year with the highest export turnover was 2023 with more than 3.64 billion USD. According to the General Department of Customs, the trade and export of cashew nuts and processed foods from cashew nuts have been expanded to markets. Of which, the EU, the US and China are the 3 largest import markets, accounting for over 90% of the export volume of the Vietnamese cashew industry. In addition, the increase in export prices also contributed to creating a new record in export turnover. In the first 10 months of 2024, the average export price of Vietnam's cashew nuts was 5,873 USD/ton, an increase of 3% over the same period last year. Regarding the coffee market, according to Baochinhphu.vn, the General Department of Customs ...