Cashew export targets $ 4 billion in 2020

Wed Jan 18 2017

2016 was the first year the export processing industry in Vietnam rolled landmark $ 3 billion exports, increased in both volume and value over the same period. Along with the strategy to promote the processing industry and stabilize the domestic raw materials, which set a target industry turnover will reach $ 4 billion in 2020.

By 2016, the volume of export of semi-processed cashew is 348,000 tons, worth over $ 2.8 billion, plus $ 200 million worth of export products deep processing and conditioning oil. Results in the production of cashew processing by years of Vietnam reached a record with more than 1.5 million tons of cashews, along with the stability of the market and the rise of export price, the export of which increased 19.1% compared to 2015. the Vietnam Cashew has been present in 90 countries and regions, concentrated in the US and Europe.

However, domestic sources of raw materials to meet the needs of about 1/3 of enterprises, therefore, Vietnam is importing more than 1 million tons of raw cashew nuts, mainly from Africa to serve processing . This is consistent with the strategy to promote the processing industry of Vietnam cashew industry, focusing increasing proportion of deep processing. As planned by the Ministry of Agriculture and Rural Development, the land bank for transplantation in our country that would be about 400,000 hectares and boost efficiency by 2 tons / ha, to get 800,000 tons of cashew nuts for businesses. If the market is stable, the processing industry which may be around 2 million tons and turnover of $ 4 billion in 2020./.

Source: Vietnam + / VNA & HiTV