Vietnam exported 122,000 tons of cashews in the first quarter of 2023, earning $708 million, figures from the General Department of Customs show.

The result represents a year-on-year increase of 16.6 per cent in volume and 14.2 per cent in value.

Cashew exports fell dramatically in January but then recovered in February and March. March exports grew strongly, with shipments totaling 60,000 tons worth $355 million, up 75 per cent in volume and 79.5 per cent in value compared to February.

The average cashew export price was $5,826 per ton in the period.

Vietnam exported 519,782 tons of cashews worth $3.08 billion last year. It therefore held its leading global position in terms of cashew kernel exports, accounting for 80 per cent of the world’s total exports. Key export markets are the US, Europe, and China.