Vietnam’s agricultural product exports are on track to achieve an unprecedented milestone, with projected revenue reaching 60-61 billion USD this year, up 7-8 billion USD compared to 2023.
As cashew exports in the first half of 2022 fell by 9.2% against the same period last year, the Vietnam Cashew Association (VCA) has to adjust down its annual export target to 3.2 billion USD.
Although Vietnam is a leading exporter of cashew nut, the country’s export value remains modest as many enterprises are still dependent on imported materials.
The export turnover of 353,000 tonnes of cashew in 2017 touched 3.52 billion USD, the highest level ever recorded, according to the Ministry of Agriculture and Rural Development.
The Vietnamese cashew sector is working with Cambodia’s Ministry of Agriculture, Forestry and Fisheries and Cambodian firms to develop a 1-million-tonne cashew material region in Cambodia.
Cashew exports fetched 2.2 billion USD in the first eight months of 2017, a rise of 24.9 percent from the same period last year, according to the Ministry of Agriculture and Rural Development.
As global demand increases for cashew, Vietnam, the world’s largest exporter of the nut, could grab an even bigger market share by improving quality, a conference heard in central Da Nang city.
