Vietnam’s Cashew Empire: African Imports Fuel Global Dominance

Vietnam, a leading producer of agricultural commodities like rice, coffee, rubber, and pepper, holds the title of world’s top cashew exporter for 16 consecutive years. The nation’s dominance is fueled by significant imports of raw cashews, primarily from Africa. Vietnam imports over 3 million tons of raw cashews annually, with approximately 2.2 million tons coming from Africa, particularly West African countries. Domestic supply only accounts for a small 10% of the total. The recent surge in cashew prices, driven by a shrinking global supply due to reduced planting areas, has further boosted Vietnam’s export potential. The country’s cashew export revenue exceeded $3.6 billion in 2023, a significant increase from the previous year. Vietnam aims to achieve a record export value of $3.8 billion in 2024. Despite its success, the cashew industry faces challenges related to raw material sourcing, production costs, and the transition to sustainable practices. To maintain its leading position, Vietnamese businesses need to actively monitor market trends, invest in quality improvement, and adopt sustainable production methods.