The cashew nuts consumption at farm gate in Vietnam has experienced fluctuations over the past decade. In 2023, the recorded volume stood at 361.1 thousand metric tons. Significant growth was observed in 2015 (87.81%) and 2019 (41.32%), while notable declines were seen in 2014 (-20.12%) and 2020 (-24.25%). The year-on-year growth rate in 2023 was 5.34%, with a 5-year CAGR from 2019 to 2023 measuring 3.93%. Projected future growth suggests a moderate upward trend with a 5-year forecasted CAGR of 0.17% and an overall growth rate of 0.87% by 2028.
Future trends to watch for include:
- Impact of global market conditions on demand and prices.
- Changes in agricultural policies and support for cashew farming in Vietnam.
- Technological advancements in farming and processing techniques.
- Potential shifts in consumer preferences towards healthier snack options.
- Environmental factors and climate change implications on cashew crop yields.
