Việt Nam targets Argentina to boost cashew exports

Việt Nam targets Argentina to boost cashew exports

Việt Nam's processed cashew exports to Argentina exceeded 270 tonnes last year, a 1.7-fold surge from 2024, with a value approaching US$1.2 million.

Vietnamese cashew nuts are currently exported to more than 110 countries and territories. — VNA/VNS Photo

A business seminar focused on the trade of Vietnamese cashews in the Argentine market was held on Thursday in Buenos Aires.

Opening the event, Ngô Mạnh Khôi, head of the Vietnam Trade Office in Argentina, noted that the event provides a valuable platform for producers, processors, importers and distributors from both nations to directly understand each other's needs, exchange information on supply capabilities and explore concrete opportunities for cooperation.

He emphasised that Việt Nam has developed a highly competitive cashew processing industry, offering a diverse range of products tailored for international markets. However, to expand their footprint in Argentina, Vietnamese enterprises need a better grasp of local buyers' requirements regarding quality, technical specifications, commercial terms and the capacity for stable supply, he stated.

Vice President of the Vietnam Cashew Association (VINACAS) Nguyễn Minh Họa reported that last year marked a new milestone for the Vietnamese cashew industry. Export value surpassed the US$5 billion mark for the first time, reaching $5.43 billion – a significant leap from the $4.34 billion recorded in 2024.

Exports of processed cashews hit nearly 798,000 tonnes, reflecting a year-on-year increase of over 5.7 per cent. Việt Nam firmly maintained its crown as the world's leading processor and exporter of cashews, commanding approximately 80 per cent of the global market share.

According to Họa, Vietnamese cashews are currently exported to more than 112 countries and territories, with major markets including China, the US and Europe.

Last year, China officially overtook the US for the first time to become the largest export market for Vietnamese cashews, with a turnover of approximately $1.12 billion. Meanwhile, exports to the US stood at around $975 million.

Beyond its traditional strongholds, South America is emerging as a highly promising region for Vietnamese cashews. Argentina, in particular, is considered a focal market of keen interest, he added.

Through this working visit, Họa expressed his hope that VINACAS would forge stronger direct links with Argentine importers and distributors, gain deeper market insights, and aggressively expand its partnership network. Statistics show that Việt Nam's processed cashew exports to Argentina exceeded 270 tonnes last year, a 1.7-fold surge from 2024, with a value approaching $1.2 million.

At the seminar, market specialist Agustín Fernández Rivas analysed the cashew market outlook across Argentina, South America and Việt Nam.

According to the presented data, the global cashew market reached an estimated valuation of $11 billion last year and is projected to maintain an annual growth rate of roughly 7 per cent. In South America alone, the market size is expected to swell from $403 million last year to $564 million by 2031.

Argentine participants identified several high-potential distribution channels for Vietnamese cashews, including supermarket chains, health food stores, the broader food manufacturing industry, and the booming plant-based beverage segment.

Meanwhile, representatives from Vietnamese firms showcased their robust production, processing and export capacities, actively exploring ways to tailor their products to the specific tastes and requirements of the Argentine market.

Following the seminar, numerous Argentine companies expressed strong interest in ramping up their imports of Vietnamese cashews and committed to further negotiations with potential partners, paving the way for long-term and lucrative commercial relationships. 

Bizhub