Each ton of exported cashew nut shell oil is priced at USD 600 and carries significantly higher economic value than crude oil. According to Mr. Nguyen Thai Hoc, Chairman of the Dong Nai Cashew Association, the cashew nut shell oil production industry has now developed strongly. Every year, the national cashew nut shell oil industry produces around 80,000 tons, of which 60,000 tons are exported, generating USD 50 million in revenue. Dong Nai accounts for approximately 60% of the country’s total cashew nut shell oil production.
Since the beginning of this year, Dong Nai has exported around 40,000 tons of cashew nut shell oil, reaching nearly USD 24 million in export value. According to Mr. Hoc, each ton of exported cashew nut shell oil is currently worth USD 600, while in the past, processing facilities had to discard the entire shell after processing cashew kernels for export, resulting in considerable waste. Therefore, the production of cashew nut shell oil not only brings economic efficiency to businesses but also helps address labor and environmental pollution issues. To date, enterprises in Dong Nai have achieved output of tens of thousands of tons per year, increasing dozens of times compared to the early years of the industry.
Cashew nut shell oil is a valuable fuel source for many industrial sectors, including the production of paints, anti-corrosion agents, adhesives, and friction powder for motorcycle and automobile brake linings. In recent years, export markets have also expanded beyond China to include the EU, Japan, and others. Among these, China imports large volumes of cashew nut shell oil from Vietnam to further refine it into many higher-value products, including high-grade bonding materials, premium coatings, insulating materials, electronic circuit boards, and friction powder used in brake lining production.
Mr. Hoc added that many businesses in the cashew industry have now boldly invested in modern technology to produce additional new products. These not only generate higher export value but also contribute to supplying raw and auxiliary materials for many other industries in the province. Because this processing sector has many specific operational characteristics, cashew nut shell oil producers in Dong Nai are in great need of a dedicated industrial zone for centralized production.
Mr. Do Cao Nguyen, a representative of Viet Trung Cashew Oil Facility in Xuan Loc, said that in the past, the cashew processing industry did not consider cashew shells to have any value, as they were merely a by-product after processing and were usually used only as fuel. Since the emergence of the cashew nut shell oil industry, cashew shells have become a valuable raw material. As a result, the contribution of this new industry is not only economic but also helps solve waste treatment issues. Similarly, Ms. Nguyen Thi Nga, owner of a cashew oil facility in Xuan Loc, said that an increasing number of small facilities and businesses are now interested in investing in cashew nut shell oil production because 100% of the production equipment is domestically manufactured, meaning investment costs are not too burdensome while economic returns are quite high. In addition, labor costs are low, as each production line requires only a few workers. Meanwhile, market demand remains strong, so traders often come directly to the facilities to collect the goods. As a result, after a period of operation, her facility confidently invested in additional machinery and tripled its output compared to before, yet still could not supply enough product to meet market demand.
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