Vietnam’s Cashew Export Strives to Reach USD 4 Billion in 2020

According to Cashewinformation from the Vietnam Association (Vinacas), Vinacas and G30 group, a leading enterprise in the cashew industry in the Vietnam, will commit themselves to the goal of reaching $4 billion in cashews by 2020 based Export: on the principle of the “Reducing quantity and improving quality”.

In 2019, cashew industry imported more than 1.5 million tons of the cashew raw materials from various countries (most of which are from the Africa), an increase of 27.5% over the last year and a decrease of 29.7% in imports. 2019 is also a busy year for mergers and acquisitions in the cashew processing industry, forming many large companies.

According to the Vinacas statistics, Vietnam’s cashew industry’s average monthly export in 2019 will reach 34,000t. According to this average monthly export, it is estimated that the annual cashew export in 2019 will reach the approximately 400,000t.

As world demand for cashews increased in the last month of this year, Vietnam’s cashew export target reaches 450,000t.