Cashew exports hit over 1.3 billion USD in first five months
Updated : Tuesday, June 05, 2018 3:42 PM (GMT+0700)

Vietnamexported 141,000 tonnes of cashew in the first five months of 2018, raking inmore than 1.39 billion USD, reported the Import-Export Department under theMinistry of Industry and Trade.

 
Vietnam exported 141,000 tonnes of cashew in the first five months of 2018, raking in
more than 1.39 billion USD - Photo: VNA

The figures showed a rise of21.4 percent in volume and 25.3 percent in value year-on-year.

In May alone, 35,000 tonnesof cashew were exported with revenue of 330 million USD, up 8.8 percent involume and 6.4 percent in value compared to the previous month. Cashew exportshave expanded for four consecutive months.

Export cashew price hit anaverage of 9,867 USD per tonne in the first five months, up 3.2 percentyear-on-year.

According to statistics fromthe Ministry of Agriculture and Rural Development, as of the end of 2017,Vietnam was home to 337,143 hectares of cashew, 4,410 hectares more than theprevious year. Yield, nevertheless, remains low at under a tonne per hectares.

There are more than 465cashew processing firms with total designed capacity of more than 1.4 milliontonnes per year. However, nearly 70 percent are small scale.

Vietnamese cashew is presentin ore than 90 countries and territories. The country achieved its highest-evercashew exports in a year in 2017 with 353,000 tonnes of cashew kernels exportedfor a value of 3.52 billion USD, a year-on- year increase of 1.9 percent involume and 23.8 percent in value.

Also, the country has set upa cashew processing industry, creating jobs in the farming and processingsectors for nearly 1 million people.

Vietnam’s cashew industryhas targeted 300,000 tonnes of cashew exports at a value of 3 billion USD thisyear, said the Vietnam Cashew Association.

Source:VNA

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