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.
According to estimations from Vinacas (Vietnamese cashew nut association), cashew nut exports could reach 180,000 tons with a $1.8 billion turnover (excl. income from oil and other derivatives - which if included could bring the figure up to $2.2 billion).
Some harvest areas went from 3 tons to 5 during the first few months of the year. However the 10-15% rise in production does not necessarily mean an increase in sales as there is competition from other countries who are also experiencing a rise in volume.
Global cashew nut production for the 2013-2014 season is estimated at 2.47 million tons. The largest producing countries are India, the Ivory coast, Vietnam, Guinea-Bissau and Brazil.
Vinacas will work on trade with Australia as well as older import markets such as the USA, Europe, China and Japan. According to their figures, the Australian market is one of the main markets for Vietnamese cashew nuts with turnover growing from $36.8 million in 2009 to $377.7 million in 2013.
