16:14 | 10/01/2017 Trade
(VEN) - In a context where Vietnam’s key agricultural products have seen a fall, cashew exports have witnessed high growth. According to the Vietnam Cashew Association, this year’s cashew exports are expected to reach US$2.7 billion, including US$2.5 billion from cashew nuts.
According to the Ministry of Agriculture and Rural Development’s latest report, cashew exports reached 29,000 tonnes for US$257 million in November and 320,000 tonnes for nearly US$2.6 billion in the first 11 months of the year, an increase of 6.2 percent in volume and 18.3 percent in value compared to a year ago. Cashew exports are expected to hit US$2.7 billion in the whole year, including US$2.5 billion from cashew nuts.
Vietnam Cashew Association (Vinacas) Chairman Nguyen Duc Thanh said that the cashew sector is proud of such results as it would help Vietnam account for 50 percent of the world’s cashew nut trade value. Cashew nuts rank third among Vietnam’s key agricultural products for exports, after coffee and rice, accounting for eight percent of total export turnover of the agricultural sector. 2016 also marks the 11th consecutive year Vietnam holds leading position in the world in cashew nut exports. Vietnamese cashew has been exported 50 markets worldwide.
Consumer demand on cashew is increasing by around 10 percent a year in the world, while a possibility in terms of increasing growing areas and output is much lower. Therefore, there are many opportunities for the cashew sector. If Vietnam’s other key agricultural products mainly depend on China and some large markets, cashew exports are not contingent upon any market.
Increasing cashew value
In addition to increasing domestic supply to reduce dependence on imported materials, the Vietnamese cashew sector has made greater efforts to enhance the value together with commitments in terms of food safety and hygiene.
The Ministry of Agriculture and Rural Development’s Department of Crop Production Deputy Director Nguyen Van Hoa said that the cashew sector has seen clear advances in the last three years, especially in seed management, contributing to improving productivity and quality. The Ministry of Agriculture and Rural Development has strengthened cooperation with Vinacas to implement the project on replanting 45,000ha and improving 15,000ha of land under cultivation, which has led to an increase of 30-50 percent in productivity in comparison to previous periods.
To meet higher requirements in export markets, Vinacas has financed around 300 cashew plantation performance models in order to drive towards cleaner production. The association has also promoted cooperation with the Ministry of Agriculture and Rural Development to examine hundreds of cashew processing plants for food safety and hygiene. In particular, the cleaner production program conducted by the association has contributed to improving quality and diversifying added-value products.
The country currently has 80 cashew processing plants with capacity of 300,000 tonnes a year. In particular, many businesses have invested in modern machinery and equipment to help Vietnamese cashew enter distribution systems in Canada, the US, Thailand, Chinese-Taipei, Italy, the UK and the Netherlands.
Vinacas will continue efforts to develop Vietnamese cashew brand names and encourage businesses to join the Vietnam
Value program in 2017.