Export of cashew nuts to the $ 3.3 billion mark

6/22/2017 2:16:18 PM

Vietnamese cashew nuts are exported to 90 markets, with the United States accounting for the highest market share (35%), EU (25%) and China (18%).

Vietnam's cashew nut exports in 2017 are looking at $ 3.3 billion with output of 360,000 tonnes, surpassing nearly $ 200 million compared to the level of 2016.

According to the Vietnam Cashew Association (VINACAS), in 2016, the cashew industry of Vietnam has exported 350,000 tons of cashew nut of all kinds, worth nearly 3.1 billion USD, including about 2.85 billion USD , The rest are by-products of such thing as cashew nut shell oil, cardanol ...

This is also the 11th consecutive year that Vietnam's cashew nut industry is leading the world in terms of cashew kernel exports, continuing to maintain a market share of over 50% ).

Since 2006, Vietnam has been the largest exporter of cashew nuts in the world, accounting for 28% of processed cashew and 42% of cashew nut exports globally in 2016.

India is the world's largest cashew nut supplier but second only to exports as most of its products are consumed domestically.

VINACAS's assessment shows that, unlike most other commodities in the agricultural group, most of the prices are down, the average export price of 2016 is high and continuously increases, the average price in 2016 is $ 8,196 / Tons, up 12.2% over 2015.

Vietnamese cashew nuts are exported to 90 markets, with the United States accounting for the highest market share (35%), EU (25%) and China (18%). The main export markets were positive growth such as the United States, China and the Netherlands with growth rates of 17.6%, 20.4% and 24.1%, respectively. Export prices in all markets have increased over the same period, averaging 7.5 - 8.5%.

In 2017, Vietnam cashew industry is expected to export about 360,000 tons of cashew nuts of all kinds, up 2.8% over the same period of 2016.

The export value of cashew nut products was $ 3.3 billion, of which cashew nut was about $ 3 billion, up 5.0% over 2016.

The Hai

Source: Investment Review