According to the General Department of Customs, as of mid-December 2024, cashew export turnover has reached 4.2 billion USD. This is the first time in the history of the cashew industry that exports exceeded the $4 billion mark. Meanwhile, in Vietnam’s coffee industry, export turnover also exceeded the $5 billion mark in a year for the first time.
According to Baochinhphu.vn, the first time the cashew export industry exceeded the $3 billion mark was in 2017. From then until 2023, cashew export turnover will always remain at a level from more than $3 to nearly $4 billion. . Of which, the year with the highest export turnover will be 2023 with more than 3.64 billion USD.
According to the General Department of Customs, trade and export activities of cashew kernels and foods processed from cashew kernels have been expanded to markets. Among them, the EU, US and China are three major import markets, accounting for over 90% of the export volume of Vietnam’s cashew industry.
Besides, increased export prices also contributed to creating a new record in export turnover. In the first 10 months of 2024, Vietnam’s average cashew export price is at $5,873/ton, up 3% over the same period last year.
Regarding the coffee market, according to Baochinhphu.vn, the General Department of Customs said that coffee export turnover as of December 15 reached 5.2 billion USD. This is the first time in the history of Vietnam’s coffee industry that export turnover exceeded the $5 billion mark in a year.
Previously, coffee exports in the 2023-2024 crop year, from October 2023 to September 2024, also exceeded the $5 billion mark for a crop year for the first time. In addition, coffee became the third agricultural product, after vegetables and rice, with an export turnover exceeding 5 billion dollars.
Rising export coffee prices are the main reason for Vietnamese coffee reaching this milestone. In October 2024, the average price of exported coffee reached $5,720/ton, the highest level in history and an increase of 59% over the same period last year. In November, the average price of exported coffee decreased slightly but remained high at $5,581/ton. Thus, Vietnam’s coffee export price in the 11 months of this year is on average $4,052/ton, up 57% over the same period in 2023.
