🌿Vietnamese Cashews Continue to Dominate the World, with the US as the Most Promising Customer🌿

🌿Vietnamese Cashews Continue to Dominate the World, with the US as the Most Promising Customer🌿

✨Exports of Vietnamese cashews in June showed positive signs, although there was a slight decrease in volume compared to May (by 7.5%). However, export value increased (by 1.6%). Overall, in the first 6 months of 2024, cashew exports from Vietnam continued to maintain an impressive growth rate compared to the same period last year.

✨A bright spot in the cashew export picture in June was the high selling price, reaching 6,008 USD/ton, the highest level since September 2022. As a result, export value to the US market, the "darling" of the Vietnamese cashew industry, reached over 505 million USD, up 16.8% compared to the same period last year. China continued to be the second largest market, with an export value of 362 million USD, up 40% compared to the same period.

✨It is clear that the demand for cashews in the world is increasing, especially in the US and China. This opens up a great opportunity for the Vietnamese cashew industry in the coming months. The General Department of Import and Export forecasts that cashew exports will continue to increase due to rising demand and reduced inventories.

✨However, in addition to the positive signals, the cashew industry is also facing a number of challenges. This is the situation of counterfeit, imitation, and substandard goods masquerading as Vietnamese cashew brands flooding the market, affecting the reputation and health of consumers.

✨To maintain its position as the world's number one cashew exporter, the Vietnamese cashew industry needs to focus on improving product quality, building a reputable brand, and promoting trade promotion activities.

✨With its potential and advantages, it is believed that the Vietnamese cashew industry will continue to achieve many successes in the future, contributing to increasing farmers' incomes and affirming Vietnam's position in the international market.

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