Vietnam exported more than 55,000 tonnes of cashew nuts in the first quarter and generated US$380 million in revenue, up 29 per cent in value and 37 per cent in volume, heard at the 7th International Customer Conference organised by the Vietnam Cashew Association on May 22 in Nha Trang City.
|Workers process cashew nuts at a plant. (Photo: SGGP)|
The International Customer Conference was attended by more than 150 participants from the US, EU countries, China, Australia, Middle East and Africa.
Vietnam is leading in cashew nut exports in the world, is the second in cashew processing and the third in production.
According to Nguyen Thanh Bien, deputy minister of Industry and Trade, more than 60 per cent of cashew nuts traded in the global market come from Vietnam.
However, Vietnam’s cashew nut production is also facing many challenges. Earnings from cashew remain pretty low for farmers who are considering switching to other high-yield crops. As it is, cashew growing area has already reduced by 77,000 hectares over the last five consecutive years.
At present, productivity remains at about 1 million tonnes per hectare. Processed cashew nuts only account for 3 per cent while domestic consumption is around 5 per cent.