Vietnam expects to earn US$ 3.3 billion from cashew exports

Trade News

Vietnam expects to earn US$ 3.3 billion from cashew exports

Monday, June 19,2017

AsemconnectVietnam - Vietnam''s cashew processing sector aims to export 360,000 tonnes of cashews worth US$3.3 billion in 2017, a year-on-year increase of 2.8 per cent in volume, according to the Vietnam Cashew Association, Vietnam News Agency (VNA) reported.

If the sector realises its goal in 2017, this will be the 12th consecutive year Vietnam has led the world in cashew exports.

In the first five months of this year, some 112,000 tonnes of cashews were exported for US$1.1 billion, down 9.5 per cent in quantity but up 12.8 per cent in value from the same time last year.

In 2016, cashew nut was one of Vietnam''s major farm produces, only behind coffee in terms of export value. The country pocketed US$3 billion from cashew exports, accounting for more than 50 per cent of the world''s cashew trade value.

Vietnamese''s cashews have been entered 90 countries and territories worldwide. The US is the largest import market, accounting for 35 per cent of Vietnam''s total cashew export volume, followed by the European Union (25 per cent) and China (18 per cent).

Source: Reuters.com

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