The type of billion-dollar seed mentioned here is cashew nut. This is the seed of the cashew tree, which is favored by many countries worldwide and carries high economic value. Formerly, cashew trees grew wild, originating in Brazil, but are now cultivated in many countries, including Vietnam.
Cashew trees were introduced to Vietnam in the 19th century and were extensively planted in the southeastern provinces after the 1970s. In 1989, cashew trees were officially recognized as an industrial crop in Vietnam.
More than 20 provinces in Vietnam grow the type of billion-dollar seeds beloved by the world: China eagerly buys more than the United States
Cashew trees are widely grown in Vietnam and have high economic value. Image: The nut garden
With a tropical monsoon climate and fertile soil, Vietnam is a highly suitable country for the growth and development of cashew trees. In fact, according to the Vietnam Cashew Association, cashew trees are widely cultivated in the country, distributed extensively from the central to the southern provinces.
Currently, there are over 20 provinces and cities growing cashews, with a total area of around 300,000 hectares. Among them, Binh Phuoc province has the largest area of cashew cultivation in Vietnam, with an area of over 150,000 hectares. This area has suitable soil conditions, rich soil… which easily support the growth and development of cashew trees, yielding good nuts and high harvest yields.
Vietnamese cashew nuts are often favored by many countries not only for their high nutritional content but also for their characteristic delicious aroma. The price of peeled cashew nuts ranges from 400,000 to 500,000 VND/kg. This type of nut brings high economic value to cashew farmers.
Vietnam’s cashew nut exports reach 3.63 billion USD
More than 20 provinces in Vietnam grow the type of billion-dollar seeds beloved by the world: China eagerly buys more than the United States – Image 2.
China and the United States are the two largest importers of cashew nuts from Vietnam. Image: VNA
According to statistics from the General Department of Customs, Vietnam’s total cashew nut export turnover in 2023 is estimated at 3.63 billion USD, with a volume of 641,000 tons, an increase of 17% in value and over 23% in volume compared to 2022. Currently, the United States, China, and Europe are still the largest cashew nut export markets for Vietnam. Especially in 2023, China became the largest importer of Vietnamese cashew nuts, surpassing the US market.
Representatives of the Vietnam Cashew Association stated that despite facing a year of economic fluctuations, the Vietnamese cashew industry still maintains its number one position in the world in terms of exporting this type of nut. In 2024, despite the possible impact of high inflation and national conflicts on the global cashew industry, the Vietnamese cashew industry still expects positive developments. The growing trend of favoring vegetarian diets has increased the demand for various types of nuts, including cashews.
In addition to Vietnam, India, Ivory Coast, Benin, Guinea-Bissau… are also major cashew nut exporters in the world.
However, according to experts, to enhance competitiveness with leading cashew producers today, the Vietnamese cashew industry must quickly catch up and follow the trend of transitioning to greener production to meet the demands of “picky” markets while complying with environmental standards and social responsibilities.