Wed, 22nd May 2024 16:00 (GMT +7)

Cashew exports look to US$4 billion

Tuesday, 14/05/2024 | 15:50:00 [GMT +7] A  A

Export turnover of cashews reached US$1.16 billion in the first four months of this year, representing a year-on-year increase of 21.2 percent, according to the Ministry of Agriculture and Rural Development (MARD).

Cashew exports look to US$4 billion - Ảnh 1.
Illustration photo

In April alone, Viet Nam exported 65,000 tons of cashews worth US$350 million, raising total export volume to 216,000 tons in January-April period.

Noticeably, the U.S. was the biggest importer of Vietnamese cashews by spending US$280 million to buy 52,000 tons, up 35.3 percent in quantity and 23 percent in value.

China ranked second by importing 31,500 tons, followed by the Netherlands with 13,700 tons.

Viet Nam has remained the world’s largest cashew exporter with annualy revenue of about US$3 billion for 16 consecutive years.

Viet Nam’s cashew export turnover reached a record of US$3.63 billion in 2021.

The country’s cashew industry is facing serious challenges, especially the fiercer competition from Cambodia and some African countries.

At present, Viet Nam accounts for nearly 80 percent of the global cashew output.

Source: VNA