Vietnam’s cashew industry has had a remarkable year, bringing in a record $3.98 billion from exports in the first 11 months of 2024. However, the country still relies heavily on importing raw cashew nuts, spending over $3 billion to do so. Local production only covers about 10% of what is needed for processing. This lack of local supply, along with rising costs for imports and issues with African suppliers, creates ongoing difficulties for the industry. To ensure a sustainable future and lessen dependence on imports, the industry needs to find ways to process cashews more effectively and increase the areas where cashews are grown.
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