Vietnam maintains world’s top cashew exporter for tenth consecutive year
While export of many farm produce continues facing with difficulties this year, cashew industry has posted an increase in export output and turnover maintaining Vietnam’s position of the world’s top cashew exporter for the tenth year in a row.
That was revealed by the Vietnam Cashew Association (Vinacas) at the 7th Vietnam International Cashew Conference in Ho Chi Minh City on November 22-24, attracting 65 foreign companies from 30 nations.
According to Vinacas, this year cashew export turnover will reach US$2.5 billion including US$2.3 billion from cashew nut, the highest ever, and the rest amount from cashew oil and processed products.
The industry has continued holding 50 percent of global cashew nut trade value equivalent to US$5 billion a year.
Vietnam’s cashew industry has improved technologies to slash 70-80 percent labor force, increase processing capacity by 1.5 times and reduce production cost by 30-40 percent, reported Mr. Pham Van Cong, Vinacas deputy chairman.
