Business
Vietnam aims to export USD3.3bn in cashews
  • | bdt, dtinews.vn | June 23, 2017 08:31 AM
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.

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