Vietnam expects to earn US$3.3 billion from cashew exports
Vietnam’s cashew processing sector aims to export 360,000 tonnes of cashews for US$3.3 billion in 2017, a year-on-year increase of 2.8% in volume, according to the Vietnam Cashew Association.
- Cashew production forecast to drop nearly 20 percent in 2017
- Cashew sector faces difficulties in 2017
- Binh Phuoc develops local cashew nut brand
If the sector realises its goal in 2017, this will be the 12th consecutive year Vietnam has led the world in cashew exports.
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In the first five months of this year, some 112,000 tonnes of cashews were exported for US$1.1 billion, down 9.5% in quantity but up 12.8% in value from the same time last year.
In 2016, cashew nut was one of Vietnam’s major farm produces, only behind coffee in terms of export value. The country pocketed US$3 billion from cashew exports, accounting for more than 50% of the world’s cashew trade value.
Vietnamese’s cashews have been entered 90 countries and territories worldwide. The US is the largest import market, accounting for 35% of Vietnam’s total cashew export volume, followed by the EU (25%) and China (18%).
