Vietnam has secured its place as the world’s top cashew exporter foreight consecutive years, supplying roughly 60 percent of the cashewnuts in the global markets.
According to theMinistry of Industry and Trade, the sector pocketed 276 million USD inrevenue during the first two months of 2015, posting an annual increaseof 44.7 percent.
Last year, as many as 1.2 milliontonnes of cashew nuts were shipped abroad, generating nearly 2 billionUSD and representing the largest figure recorded so far, according tothe Vietnam Cashew Association (Vinacas).
Theinternationally recognised Vietnamese cashew is now sold in 50countries, with 30 percent of total exports destined for the US andthe remaining for China , the Netherlands , India , Germany ,Japan , and others.
Cashew nuts have become one of the key export staples of Vietnam ’s farming sector, following rice, rubber and coffee.
Despite challenges in 2015, such as the Euro devaluation and the oilcrisis, the cashew market remains relatively stable due to increasingdemand, the Vinacas commented, saying this is a good opportunity forbusinesses to expand the market.
However, a numberof issues require additional attention, such as narrowed growing areas,according to Vinacas Chairman Nguyen Duc Thanh.
Henoted that the country harvests about 400,000 tonnes of raw cashew nutsper year, but the plants are capable of processing up to 1 milliontonnes of cashew. Around 50 percent of raw cashew nuts are imported,mainly from Africa , to serve as material supply for processing andexports.
He recommended developing land area forgrowing cashews, creating high-yield products, and building a productionand sales chain.
Businesses are also encouraged toforge links with foreign cashew growers, such as those in Cambodia andLaos , to form a stable material area in close proximity to Vietnamto reduce the cost of material import.
They are also urged to keep close check on imported materials to protect the Vietnamese cashew brand and reputation.
The sector targets 2.5 billion USD in export revenue in 2015.-VNA
According to theMinistry of Industry and Trade, the sector pocketed 276 million USD inrevenue during the first two months of 2015, posting an annual increaseof 44.7 percent.
Last year, as many as 1.2 milliontonnes of cashew nuts were shipped abroad, generating nearly 2 billionUSD and representing the largest figure recorded so far, according tothe Vietnam Cashew Association (Vinacas).
Theinternationally recognised Vietnamese cashew is now sold in 50countries, with 30 percent of total exports destined for the US andthe remaining for China , the Netherlands , India , Germany ,Japan , and others.
Cashew nuts have become one of the key export staples of Vietnam ’s farming sector, following rice, rubber and coffee.
Despite challenges in 2015, such as the Euro devaluation and the oilcrisis, the cashew market remains relatively stable due to increasingdemand, the Vinacas commented, saying this is a good opportunity forbusinesses to expand the market.
However, a numberof issues require additional attention, such as narrowed growing areas,according to Vinacas Chairman Nguyen Duc Thanh.
Henoted that the country harvests about 400,000 tonnes of raw cashew nutsper year, but the plants are capable of processing up to 1 milliontonnes of cashew. Around 50 percent of raw cashew nuts are imported,mainly from Africa , to serve as material supply for processing andexports.
He recommended developing land area forgrowing cashews, creating high-yield products, and building a productionand sales chain.
Businesses are also encouraged toforge links with foreign cashew growers, such as those in Cambodia andLaos , to form a stable material area in close proximity to Vietnamto reduce the cost of material import.
They are also urged to keep close check on imported materials to protect the Vietnamese cashew brand and reputation.
The sector targets 2.5 billion USD in export revenue in 2015.-VNA
