Cashew exports anticipate year-end breakthrough

The Vietnam Cashew Association (Vinacas) predicts that the country’s cashew export turnover will hit US$2.2 billion this year.

Tanimex Company processes cashew nuts for exports in Long An Province (Photo: SGGP)

Exports is expected to include 270,000 ton cashew nuts with total export turnover of US$1.8 billion, cashew shell oil and other products. Last year, cashew exports yielded $1.8 billion.

Vietnam exported 133,000 tons of cashew nuts bringing about US$847 million in the first six months, up 20.1 percent in volume and 22.1 percent in value over the same period last year, according to the Ministry of Industry and Trade.

Vinacas chairman Nguyen Duc Thanh said that Vietnam exports cashew products to 40 countries worldwide. The United States becomes the largest importer with 40 percent of Vietnam’s export volume. It is followed by European countries with 30 percent, China with 20 percent and Australia 11 percent.

By Cong Phien – Translated by Hai Mien

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