Cashew exports hit over 1.3 billion USD in first five months
Vietnam exported 141,000 tonnes of cashew in the first five months of 2018, raking in more than 1.39 billion USD, reported the Import-Export Department under the Ministry of Industry and Trade.
Vietnam exported 141,000 tonnes of cashew in the first five months of 2018, raking in more than 1.39 billion USD (Photo: VNA)
Hanoi (VNA) – 🀅Vietnam exported 141,000 tonnes of cashew in the first fivemonths of 2018, raking in more than 1.39 billion USD, reported the Import-ExportDepartment under the Ministry of Industry and Trade.
Thefigures showed a rise of 21.4 percent in volume and 25.3 percent in valueyear-on-year. InMay alone, 35,000 tonnes of cashew were exported with revenue of 330 millionUSD, up 8.8 percent in volume and 6.4 percent in value compared to the previousmonth. Cashew exports have expanded for four consecutive months. Exportcashew price hit an average of 9,867 USD per tonne in the first five months, up3.2 percent year-on-year. Accordingto statistics from the Ministry of Agriculture and Rural Development, as of theend of 2017, Vietnam was home to 337,143 hectares of cashew, 4,410 hectares morethan the previous year. Yield, nevertheless, remains low at under a tonne perhectares. Thereare more than 465 cashew processing firms with total designed capacity of morethan 1.4 million tonnes per year. However, nearly 70 percent are small scale. Vietnamesecashew is present in ore than 90 countries and territories. The countryachieved its highest-ever cashew exports in a year in 2017 with 353,000 tonnesof cashew kernels exported for a value of 3.52 billion USD, a year-on- yearincrease of 1.9 percent in volume and 23.8 percent in value. Also,the country has set up a cashew processing industry, creating jobs in thefarming and processing sectors for nearly 1 million people. Vietnam’s cashew industry has targeted 300,000 tonnesof cashew exports at a value of 3 billion USD this year, said the VietnamCashew Association.-VNA
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Vietnam exported 141,000 tonnes of cashew in the first five months of 2018, raking in more than 1.39 billion USD (Photo: VNA) 
