After a year full of fluctuations in raw material prices, raw material quality as well as the rise of African countries in cashew processing activities, the Vietnamese cashew industry has to find ways to maintain its position. exported for many years. Thanks to that, Vietnamese cashew nuts gradually stabilized, maintaining the market and the cashew industry still expected positive movements in 2024. According to Vietnam Customs statistics, cashew export turnover in 2023 will reach 3.63 billion USD, output will reach 641,000 tons, up 17% in value, up more than 23% in output compared to 2022. In terms of type structure, Vietnam mainly exports cashew nuts W320, W240, W180, accounting for 63.51% of the total volume and 69.84% of the country's total export turnover. The growth in export of all types has had a positive impact on the entire industry. The US is Vietnam's largest cashew export market, followed by China, Europe and other markets. Especially the Chinese market, in recent times, this market has increased imports of Vietnamese cashews, becoming the largest market importing Vietnamese cashews, surpassing even the US market. Mr. Thai Nguyen Hue Chi, a cashew researcher, said that in the past, Chinese people often used nuts such as almonds, walnuts... but the price of these nuts was much higher than cashew nuts. Vietnamese cashew nuts are nutritious, delicious and nutritious. Therefore, cashew nuts have become popular and increased consumption in the Chinese market to be included in dishes. During the period of mid-2023, many cashew businesses have fallen into the common difficulties of Vietnamese businesses such as fluctuating loan interest rates, poor consumption, and shrinking orders, causing factories to fall into moderate operations. . However, from the fourth quarter of 2023, the consumer market begins to become vibrant again, processing enterprises begin to restore production to serve orders. A representative of the Vietnam Cashew Association said: Cashew exports from Vietnam to key markets such as Germany, the UK, the United Arab Emirates and Saudi Arabia have recorded a high increase compared to the same period last year. before. Specifically, cashew exports to the United Arab Emirates and Saudi Arabia increased sharply, reaching 46.6% and 40.1% respectively over the same period last year. Notably, cashew nut exports to the UAE market increased by 148.7% over the same period last year. Other markets also recorded impressive growth. In addition, the timing factor has also promoted Vietnam's cashew exports. Currently, the US and European markets have many festivals and catering needs, so large amounts of food are consumed; Inventory has decreased, so the need to import reserves to serve customers in the following months is stronger. After warnings about cashew quality from two food associations in the US and Europe a few months ago, the Vietnamese cashew industry has also stepped up its focus on quality to maintain the reputation of Vietnamese cashew nuts. Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association, said that up to now, maintaining the quality of exported cashew products is a vital factor for production and business enterprises as well as Vietnam's cashew industry. . Because many previous advantages no longer exist due to competitive pressure from African countries becoming greater and greater day by day. Vietnam's regulatory industry predicts economic transformation in 2024 Processing cashew nuts for export in Binh Phuoc. (Photo: Hong Nhung/TTXVN) Although Vietnam's cashew export results have decreased compared to the target set in early 2023, they have exceeded the proposed milestone in the middle of this year. This shows that, despite many fluctuations, Vietnam's cashew industry still maintains the world's number one position in cashew export, accounting for 80% of total global output for 16 consecutive years. Although the world economy is weak, inflation is high and national conflicts continue to negatively affect the global cashew industry, Vietnam still expects positive movements in 2024. Many experts in the industry assess that with current technological developments, Vietnamese cashew nuts are competing with other countries, especially countries with strengths in raw cashew materials such as Ivory Coast. Therefore, the cashew industry needs to focus on processing quality and diversity of processed products to increase competitive advantage. Mr. Bach Khanh Nhut, Vice Chairman of the Vietnam Cashew Association, shared that the global cashew market is forecast to grow by an average of 4.6% in the period 2022-2027. The global trend towards vegan and plant-based diets has increased demand for nuts and nut-based foods; including cashew nuts. Vietnam's cashew industry has made great strides after more than 40 years of establishment and development. From learning and using cashew processing technology equipment from abroad, Vietnam has become a country that masters the technology and leads the world in cashew export, accounting for more than 75% of cashew kernels exported. globally. This shows that applying and improving technology in production and processing is a mandatory trend for the cashew industry to increase its competitiveness. According to Mr. Vu Thai Son, Chairman of the Board of Directors of Long Son Group, along with the current development trend and consumer demand, the cashew industry must also follow the wave of shifting to green production according to global trends. to be able to meet more stringent requirements on environmental standards, social responsibility... Specifically, supermarket partners in the US and Europe require very high standards. For example, if previously the parameters on the packaging could be printed, the partner required laser engraving. Businesses must also demonstrate to partners their social and environmental responsibility. Therefore, cashew production and processing enterprises have invested in mechanization, automation, reducing workers and production costs and trying to sell goods even at cheaper prices. This is to help businesses reduce inventory, rotate money to repay bank debt, thereby reducing loan interest. At the same time, invest in rooftop solar power to reduce electricity usage costs; At the same time, sign labor contracts for workers in accordance with international practices./.