September 23, 2017 20:09

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In 2017, the Cashew industry will reach $US 3 billion of export

08:38 | 27/01/2017

VCN- 2016 marked a major effort of the Cashew industry while many other key agricultural products faced many difficulties and challenges, Vietnam's cashew nuts continued to be popular with the world market for high processing quality.

in 2017 cashew industry will reach us 3 billion of export
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In the past 11 consecutive years, Vietnam has been the largest cashew nut exporter in the world with proportion of about 28% of processed raw cashew nut volume and 42% of the world’s total export cashew nuts export volume in 2016.

According to statistics of the Ministry of Industry and Trade, in 2016 Vietnam exported 348,000 tons of all kinds of cashew nuts,with $US 2.84 billion of export turnover, up 5.6% in volume and 18.4% in value compared to 2015.

If adding the processed products and by-products (cashew shell oil, cardanol, etc) in 2016, export turnover value of the Cashew industry reached $US 3.1 billion, the highest ever.

In 2016, Vietnam exported cashews to 90 countries and territories, In which, the US was the largest importer (accounting for 35%), followed by the EU and UK (accounting for 25%) and China (accounting for 18%). Notably, export turnover to important markets sharply increased such as Israel (over 50%), Germany (48%), UK (23%) and Italy (19%).

Currently, there are about 400 cashew nut export enterprises, in which over 50% of cashew nut export market share is mainly concentrated in 30 enterprises.

According to the INC, the demand for nut consumption in general and cashew nut in particular on the global scale continues to increase with stable speed, the average increase volume of 10% per year is due to the widely scientific reports to prove the health benefits of cashew nuts and other nuts.

Based on the assessment above, the Vietnam Cashew Association said that 2017 will be a favorable year of cashew nut production and business but also have difficulties. It is important for businesses to regularly monitor the market to make decisions for suitable production and business.

in 2017 cashew industry will reach us 3 billion of export Cashew nut exports on the rise

Vietnam shipped 34,000 tons of cashew nuts abroad in August to earn US$277 million, bringing the total ...

Accordingly, the Vietnam Cashew Association is expected to export 360,000 tonnes of cashews for a value of $US 3 billion in 2017. It is expected that the amount of raw cashew imports will reach about 1.1 million tons. Source of imports of raw cashews is from Cambodia, Indonesia and African countries, particularly Ivory Coast.

By Nguyen Hien/ Hoang Loan