Vietnam aims to export USD3.3bn in cashews

Vietnam expects to export USD3.3bn worth of cashews in 2017, USD200m higher than last year, according to the Vietnam Cashew Association.

Vietnam expects to export USD3.3bn worth of cashews in 2017, USD200m higher than last year, according to the Vietnam Cashew Association.

  

Vietnam exports cashews to 90 markets

Vietnamese firms exported a total of 350,000 tonnes of cashews valued at USD3.1bn last year. Vietnam has been the world's top cashew exporter for 11 years in a row and held a market share of more than 50% of the world's cashew market.

It held a 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 Vinacas, the prices of cashews last year stood at a high of USD8,196 per tonne, 12% up on 2015.

Vietnam exports cashews to 90 markets. 35% of the exports are to the US, 25% to the EU and 18% to China. Vietnam also experienced growth in major markets of 17.6% to the US, 20.4% to China and 24.1% to the Netherlands. Prices also increased by 7.5%-8.5%.

This year, the sector aims to export about 360,000 tonnes of cashew, an increase of 2.8% than 2016. The value is estimated to reach USD3.3bn, an increase of 5% on last year.