Viet Nam's cashew exports in January jumped 15.6 per cent year-on-year to US$183 million, according to the Ministry of Agriculture and Rural Development. In volume terms, they were up 9 per cent to 24,000 tonnes.
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Trade in raw and processed cashew nuts for the six months leading up to July of 2015 has risen sharply in both volume and value, according to the most recent statistics of the General Department of Vietnam Customs.
Vietnamese cashew now has a larger chance to enter the U.S. market, where consumers are switching to the nut from others thanks to its competitive price, according to the chairman of the Vietnam Cashew Association Nguyen Duc Thanh
The Viet Nam Cashew Association (Vinacas) reported that roughly 306,000 tonnes of locally produced cashew kernels were shipped abroad in 2014, generating more than $2 billion and representing an annual increase of 17.4 per cent. Annual revenue grew by 21.9 per cent.
Including the export of by-products, such as shell oil and other value-added products, total industry revenue reached $2.2 billion, Vinacas said, noting that the cashew export price averaged $6,553 per tonne in 2014, up nearly 3.8 per cent from the previous year.
The value of cashew Forum held in Ho Chi Minh City, Nguyen Duc Thanh, Chairman of the Vietnam Cashew Association (Vinacas) said that 2014's exports hit a $ 2 billion, but consumption of cashew processing in the country despite the increase is still very low, only about 5% - 10% of exports
Vietnam earned some 1.02 billion U.S. dollars from exporting cashew nuts in the first seven months of 2014, up 17.5 percent year-on-year, said Vietnam Customs.
The Donafoods Dong Nai has co-operated with Target Co, Ltd of Germany to build a cashew producing area in the southern province of Dong Nai, said Nguyen Thai Hoc, general director of the Donafoods.
According to the Minister of Industry and Commerce, Vietnam exported 51,000 tons of cashew nuts for $319 million over the first trimester, i.e. a 19.1% growth in volume and 21.6% increase in a year.
Vietnam exported 257,000 tons of cashew nuts in 2013, up 15.8 percent year-on-year, presenting the eighth consecutive year the country has topped the world's cashew nuts exports.