The cashew industry earned more than 31 billion USD from export. (Photo: VNA)
The information was released at a recent ceremony held in Ho Chi Minh City to mark the 30th anniversary of the Vietnam Cashew Association (Vinacas).
So far, the cashew industry has exported cashew kernels to more than 90 countries and territories, accounting for around 80% of the world’s cashew kernel export. Cashew export earned more than USD31 billion. These are impressive figures of the industry over the past 30 years.
According to Vinacas, after the establishment of Vinacas in 1990, Vietnam began to export cashew kernels with a volume of 286 tonnes, worth USD1.4 million. In 2004, Vietnam exported more than 105,000 tonnes of cashew kernels worth approximately USD436 million.
Vietnam surpassed India for the first time in 2006 to become the world leading exporter of cashew kernels, with an export volume of 127,000 tonnes worth USD504 million.
Since 2017, Vietnam has become the number one hub of cashew processing and export in the world, accounting for over 50% of processed raw cashews in the world.
Vietnam expects to export 450,000 tonnes of cashew kernels in the whole of 2020 with a total value of USD3.28 billion.
According to Chairman of Vinacas Pham Van Cong, the biggest advantage of the Vietnamese cashew industry is the world's most advanced processing technology produced by Vietnamese people which has been constantly improved and innovated, helping boost the impressive growth of the Vietnamese cashew industry.
Although standing as the world’s leading cashew exporter, Vietnam is only known for its No. 1 position in preliminarily processed cashews with low prices while almost all cashew enterprises are small and micro enterprises./.