Exports grew more than expected in 2016 - Vietnam

Tue Jan 17 2017

The latest report of the Ministry of Agriculture and Rural Development (MARD) shows, the volume of exports (export) of both 2016 it reached 347,000 tons with a turnover of close to 2.84 billion dollars, up 5.6 % in volume and 18.4% in value over the same period. With this result, Mr. Nguyen Duc Thanh said that Vietnam cashew industry will be the first major agricultural products accounted for 50% marked the total value of global exports of cashew nuts. Currently, of the agricultural products which are exported by Vietnam, cashew ranks 3rd, after coffee and rice, accounting for 8% of the total export turnover of the entire agricultural sector. This is also the 11th consecutive year Vietnam cashew industry holds leading position in exports.

According to the calculations of experts, demand for cashew nuts increased by 10% / year globally. While the ability to increase the area as well as the production of cashew nuts at only 5%, much lower than the increase in consumer demand, so the geographical balance of the world market is still quite large for cashew.

"Vietnam Cashew nuts have been exported to 50 markets in all continents, of which the largest is the US 30%, Europe 25% and 15% ... China's average export growth are good things in the market "- Mr. Thanh stressed. Besides increasing cashew production in the country, to reduce dependence on imported raw materials, branch of Vietnam is trying to improve the value for cashews; along with the commitment to 100% of the products are guaranteed safe food hygiene.

Nguyen Duc Thanh said that due to the export market increasingly demanding, in recent years, Vinacas has funded nearly 300 planting demonstration model that towards cleaner production. At the same time, the Association is coordinating with the Ministry of Agriculture and Rural Development; local authorities perform tests on hundreds of factories for processing cashew nuts for food safety by 2017, Vinacas will perform branding so that Vietnam could encourage enterprises to participate in the program and to build national brands. Accordingly, Vinacas has collaborated with many agencies and research units that promote the nutritional value of cashew nuts in Binh Phuoc and Dong Nai.

Source: Industry and Trade