For 12 consecutive years, Vietnam leads the world in cashew exports
It is expected that for the whole year of 2017, the whole cashew industry will strive to export 330,000 tons of cashew nuts with an export turnover of 3.0 billion USD.
According to statistics from the Center for Industry and Trade Information (Ministry of Industry and Trade), in the first 10 months of 2017, cashew kernel exports increased in both quantity and value over the same period in 2016.
Specifically, the export of cashew kernels reached 294,000 tons and 2.98 billion USD, up 0.4% in quantity and 25.6% in value compared to the first 10 months of 2016. The US, EU, China still maintained as the 3 largest cashew import markets of Vietnam, accounting for 35%, 25% and 15% of the total cashew nut export value, respectively.
According to the export plan of the Vietnam Cashew Association (VINACAS), in the context of many difficulties, the whole industry strives to export 330,000 tons of cashew nuts in 2017 multiplied by the export turnover of the above products 3, 3 billion USD (of which cashew kernel exports are 3.0 billion USD) – the highest ever.
With the results achieved in the first 10 months of 2017, Vietnam’s cashew industry will continue to maintain a market share of over 50% of the total global cashew kernel export value (about 5.5 billion USD). 2017 is also the 12th consecutive year that Vietnam’s cashew industry holds the No. 1 position in the world in terms of processing and exporting cashew kernels.
2017 is also the year marking 27 years of growth and development of Vietnam’s cashew industry. The results of cashew production and business over the past time show great efforts of cashew nut processing and exporting enterprises, especially in the context of still facing many difficulties and challenges.
In 2018, VINACAS will continue to accompany farmers and businesses, encourage green and cleaner production, deep processing, develop the domestic market and support exports to bring the trade value of the whole industry to about 3. 5 – 3.7 billion USD.
Before that, in 2016, Vietnamese cashew businesses processed 1.5 million tons of raw cashew nuts, exported over 348,000 tons of cashew kernels, with export turnover reaching 3.1 billion USD, including 2.84 billion USD of cashew kernels, the rest are by-products of cashews.
Cashew export value ranks second in the group of 5 key export agricultural products of Vietnam, including coffee, cashew, vegetables, rice, and pepper. 2016 is the 11th consecutive year (since 2006), Vietnam’s cashew industry holds the world’s leading position in exporting cashew kernels. In 2016, Vietnam accounted for over 50% of processed raw cashews and over 60% of kernels. global export.