15:11 | 23/01/2016 Trade
(VEN) - In contrast to a decline in export turnover of key agricultural products, cashew nuts actually witnessed high growth in 2015. According to the Vietnam Cashew Association (Vinacas), cashew-nut exports could reach around 320,000 tonnes for US$2.5 billion in 2015 compared with more than US$2 billion in 2014.
Cashew nuts remain one of Vietnam’s leading exports
Strong increase in exports
Vinacas Chairman Nguyen Duc Thanh said that all kinds of cashew nuts were being exported, with more than 300,000 tonnes exported for US$2.18 billion in the first 11 months of 2015, an increase of 7.3 percent in volume and 19.2 percent in value compared to a year ago.
Nguyen Duc Thanh said that the Vietnamese cashew-nut industry could account for 50 percent of total global export value. Cashew nuts are Vietnam’s third key agricultural exports after rice and coffee, accounting for eight percent of the agricultural sector’s total export turnover. 2015 marked Vietnam as the world’s leading cashew-nut exporter for the 10th consecutive year.
After 27 years of participating in exports, the Vietnamese cashew-nut industry has confirmed its position in the global market. According to experts, cashew-nut demand has increased by 10 percent a year worldwide.
Cashew nuts are not dependent on China and several large markets like other Vietnamese key agricultural products.
Leading cashew-nut exporter
Olam Vietnam’s Quy Nhon Branch Production Director Le Van Tai said that Vietnam seems to have no competitor in cashew-nut exports as Vietnamese cashew nuts have better quality compared to African countries.
Vietnam has established the cashew-nut processing industry mainly using domestic machinery and equipment, contributing to reducing production and labor costs and improving product quality.
According to Vinacas, the Vietnamese cashew-nut industry has still faced difficulties due to large dependence on imported materials. Vietnam currently processes around 1.3 million tonnes of cashew nuts a year, while country only supplies 500,000 tonnes andthe remainder is mainly imported from Africa and Cambodia.
Increasing domestic output is seen as a top priority in 2016. The Ministry of Agriculture and Rural Development’s Department of Crop Production Deputy Director Nguyen Van Hoa said that Vietnam has more than 300,000 hectares of cashew growing areas focusing on the provinces of Binh Phuoc, Ba Ria-Vung Tau, Dong Nai, Binh Thuan, Phu Yen, Binh Dinh and Dak Lak. To ensure sustainable development, the cashew growing area improvement program has been implemented by Vinacas and the Ministry of Agriculture and Rural Development, contributing to enhancing productivity and product quality.
The US, China and Netherlands remain among Vietnam’s top cashew-nut export markets, accounting for 35.39 percent, 13.38 percent and 12.85 percent of total export value. In addition, Germany, Thailand and the UK recorded high growth in sales in 2015.