For the first time in history, the United States has spent nearly $1.2 billion importing a superfood nut from Vietnam.

Vietnam has captured 98% of the total value the US allocated for importing this item, marking a significant achievement for the nation's agricultural sector.

According to data from the General Department of Vietnam Customs, Vietnam exported nearly 724,000 tons of processed cashew nuts in 2024, earning $4.34 billion.

This represents a 12.4% increase in export volume compared to 2023 and a substantial 19.2% rise in export value.

The figures set a new record for Vietnam's cashew industry, which has maintained its status as the world’s top cashew exporter for 18 consecutive years, accounting for over 80% of global processed cashew exports.

The US leads as the largest importer

The US remained Vietnam's largest cashew importer in 2024, making a historic expenditure of over $1.15 billion for nearly 192,200 tons of cashew nuts.

This represents a 21.3% increase in volume and a remarkable 30.3% rise in value compared to the previous year.

Vietnam’s cashew nuts currently account for approximately 98% of the total value of cashew imports into the US.

Additionally, the US market contributed nearly 26.6% of Vietnam's total cashew export turnover in 2024.

The driving forces behind the demand

According to representatives from the Vietnam Cashew Association, the growth of the cashew market, particularly in the US, is fueled by the expanding food processing industry.

This development is driven by urbanization, evolving consumer lifestyles, and the rising demand for convenient food products.

Cashew nuts are considered a superfood due to their high levels of vitamins, minerals, and antioxidants that support vital bodily functions.

Data from the US Department of Agriculture’s National Nutrient Database indicates that consuming just 18 cashew nuts daily provides 31% of the recommended copper intake, 23% manganese, 20% magnesium, 17% phosphorus, 10% iron, 8% selenium, and 5% essential vitamins.

Because of these nutritional benefits, cashews are widely used in the food processing industry for snacks, confectionery, and bakery products.

With the growing demand for nutritious and convenient food products in major markets, including the US, the import demand for cashews is expected to increase.

This trend offers significant export opportunities for Vietnamese businesses in the coming years.

Tam An