Export of cashew kernels passes USD1 billion

Vietnam’s cashew sector shipped over 118,000 tonnes of cashew kernels overseas in the first five months this year, worth about USD1.1 billion, recording growth in both volume and value as planned, said Nguyen Duc Thanh, Chairman of the Vietnam Cashew Association.
May 26, 2016 | 14:53

Vietnam’s cashew sector shipped over 118,000 tonnes of cashew kernels overseas in the first five months this year, worth about USD1.1 billion, recording growth in both volume and value as planned, said Nguyen Duc Thanh, Chairman of the Vietnam Cashew Association.

The US is the biggest export market of Vietnam’s cashew kernels.

Export of cashew kernels passes USD1 billion

Cashew processing. (Photo: dantri.com.vn)

According to the Association, the goal of processing and exporting 350,000 tonnes of cashew kernels in 2016, at a value of USD2.5 billion, is possible and accessible.

The two main issues facing the country’s cashew sector are the chaotic and competitive situation when exporting to African countries, especially Ivory Coast, and ensuring food hygiene and safety during the processing of cashew kernels.

Currently, the domestic raw cashew price is very high at VND300,000 per kilogram due to long-lasting drought in countries with large cashew plantation area, like Brazil./.

( Compiled by VNF )

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