Vietnam remains world’s largest producer, exporter of cashew nuts

Vietnam has maintained its position as the world’s largest producer and exporter of cashew nuts in 2020, exporting an estimated 450,000 tonnes of cashew kernels worth US$3.2 billion, according to the Vietnam Cashew Association (Vinacas).

The information was recently revealed by the association at a ceremony in Ho Chi Minh City to mark its 30th founding anniversary.

This year, Vietnam also remains the world’s biggest importer of raw cashew nuts, purchasing about 1.3 million tonnes from overseas.

Data by Vinacas shows that Vietnam began to ship cashew kernels abroad in 1990 after the association was founded. The country exported 286 tonnes of cashew kernels for US$1.4 million that year. In 2004, the volume increased to 105,000 tonnes, worth approximately US$436 million.

In 2006, Vietnam surpassed India for the first time as the world’s top exporter of cashew kernels, with an export volume of 127,000 tonnes worth US$504 million.

Since 2017, Vietnam has retained its position as the world’s biggest hub for cashew processing and the largest exporter and importer of the product, accounting for over 50% of the global processed cashew nuts.

The industry has been hit by COVID-19 since the beginning of this year. Though cashew kernel exports reached more than 422,000 tonnes in the first 10 months of 2020, a year-on-year increase of 12%, the 10-month revenue dropped 3% to over US$2.6 billion.

Although holding the title of “the world’s No 1 exporter”, Vietnam has still mainly exported semi-processed cashew nuts, which are sold at an average price of US$10 per kilogramme, while finished products sold at supermarkets globally cost about US$30 per kilogramme.

Vinacas Vice Chairman Nguyen Minh Hoa said the sector has been under enormous pressure from new policies of major suppliers and importers. African countries, which have been key suppliers of raw cashew nuts to Vietnam for years, are boosting the development of their domestic cashew processing industry, he said.

India, one of the world’s largest cashew nut consumption markets, is applying a tax policy to limit the amount of imported cashew nuts, mainly from Vietnam, he continued, adding that other key buyers such as the US and EU are also setting out additional food safety standards on cashew kernels from Vietnam.

Vinacas Chairman Pham Van Cong said these provide Vietnam with not only challenges but also opportunities which would encourage domestic manufacturers to restructure, upgrade technology and improve management capacity to climb up the global supply chain of cashew nuts.

It is important to develop a proper strategy for the cashew sector that facilitates shift from preliminary processing to production of final products sold in supermarkets, he said.

Cong further noted that Vinacas is formulating a strategy for the development of Vietnam’s cashew industry in the new context, to be proposed to the government in the near future.

Source: VNA
vov.vn

Related News

Vietnam ready to export first batch of sweet potatoes to China

Vietnam ready to export first batch of sweet potatoes to China

Vietnam’s 70 sweet potato cultivation areas and 13 packaging facilities have been licenced to export to China, reported the Ministry of Agriculture and Rural Development (MARD)’s Plant Protection Department.
Australian Governor-General wraps up State visit to Vietnam

Australian Governor-General wraps up State visit to Vietnam

Australian Governor-General David Hurley, his spouse and the Australian delegation left Ho Chi Minh City on April 6, wrapping up his State visit to Vietnam from April 3-6.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Vietnam active at UN Human Rights Council’s 52nd session

Vietnam active at UN Human Rights Council’s 52nd session

The Vietnamese delegation, led by Deputy Prime Minister Tran Luu Quang, made active contributions to the agenda of the 52nd regular session of the UN Human Rights Council (UNHRC) that concluded in Geneva on April 4.

Latest News

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.
Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Although holding the number one position in the world in exporting cashew kernels for many years, the position of Vietnam's cashew industry in the world cashew value chain is very small because it mainly exports kernels with preliminary treatment.

More News

HCM City’s industrial production index down 0.9% in Q1

HCM City’s industrial production index down 0.9% in Q1

Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.
Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Quang Ninh aims to attract quality FDI inflows

Quang Ninh aims to attract quality FDI inflows

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.
Exports face many difficulties

Exports face many difficulties

VCN - In the first months of 2023, the absence of export orders plus the downward trend in commodity prices have slowed down trade activities.
Manufacturing enterprises increase their competitiveness thanks to digital transformation

Manufacturing enterprises increase their competitiveness thanks to digital transformation

VCN - Overcoming difficulties in 2023 requires manufacturing enterprises to self-improve and innovate. Digital technology is one of the effective solutions to help manufacturing businesses grow and compete.
32nd Việt Nam Expo promises to boost business linkages

32nd Việt Nam Expo promises to boost business linkages

The 32nd Việt Nam International Exhibition (Vietnam Expo) will take place in Hà Nội from April 5-8 with the participation of more than 500 domestic and foreign enterprieses, the event’s organisers have announced.
Prevention of price risks before news that Indonesia increases rice imports in reserve

Prevention of price risks before news that Indonesia increases rice imports in reserve

VCN - In response to demand signals from key markets such as Indonesia and the Philippines, the Import-Export Department (Ministry of Industry and Trade) suggested that rice exporters actively monitor the market situation and fully assess the opportunities as well as risks to build a trading plan.
Japanese investors highly appreciate Vietnamese property market

Japanese investors highly appreciate Vietnamese property market

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.
Seafood enterprises propose to remove obstacles from exporting to the EU

Seafood enterprises propose to remove obstacles from exporting to the EU

VCN - Seafood enterprises are facing inadequacies in applying for material certification (S/C) and food safety certificates (H/C), which affects the production and export of seafood to the EU.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.
Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Looking back to 2022, while the export turnover of the cashew industry reached US $ 3.08 billion, the import turnover of raw cashews consumed US $ 2.678 billion.
Mobile Version