Cashew export earns over USD31 billion

The cashew industry earned more than 31 billion USD from export.

(Photo: VNA)

The information was released at a ceremony held in Ho Chi Minh City on November 23 to mark the 30th anniversary of the Vietnam Cashew Association (Vinacas).

Nhan Dan news reported that despite serious impacts from the COVID-19 pandemic, Vietnam exported over 422,000 tonnes of cashew kernels in the first 10 months of this year, up 12% over the same period in 2019, meeting 94% of the set plan for 2020.

According to Vinacas, after the establishment of Vinacas in 1990, Vietnam began to export cashew kernels with a volume of 286 tonnes, worth USD1.4 million. In 2004, Vietnam exported more than 105,000 tonnes of cashew kernels worth approximately USD436 million.

Vietnam surpassed India for the first time in 2006 to become the world leading exporter of cashew kernels, with an export volume of 127,000 tonnes worth USD504 million.

Since 2017, Vietnam has become the number one hub of cashew processing and export in the world, accounting for over 50% of processed raw cashews in the world.

The country expects to export 450,000 tonnes of cashew kernels in the whole of 2020 with a total value of USD3.28 billion.

According to Chairman of Vinacas Pham Van Cong, the biggest advantage of the Vietnamese cashew industry is the world's most advanced processing technology produced by Vietnamese people which has been constantly improved and innovated, helping boost the impressive growth of the Vietnamese cashew industry.

Although standing as the world’s leading cashew exporter, Vietnam is only known for its No. 1 position in preliminarily processed cashews with low prices while almost all cashew enterprises are small and micro enterprises./.


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