Vietnam earned USD 2.18 billion from shipping 300,000 tons of cashew abroad, rising 19.2 percent and 7.3 percent year-on-year respectively, according to the Ministry of Agriculture and Rural Development.

In November alone, the country exported 25,000 tons of processed cashew, pocketing USD 186 million, the ministry said.

Photo for illustration: rawcashewnuts.com

The average export price was USD 7,269 per ton, up 11.3 percent compared to the same period last year.

China, the Netherlands and the US remain three largest importers of Vietnamese cashew.

Among markets that recorded a strong increase in exports were Germany (63.18 percent), Thailand (40.12 percent), the UK (37.82 percent), the Netherlands (37.59 percent), and the US (28.92 percent).

The Vietnam Cashew Association (VINACAS) said the country targets 320,000 tons of cashew nut exports and USD 2.5 billion in revenue in 2015. Cashew nuts have become one of the key export staples of Vietnam’s farming sector, following rice, rubber and coffee.

Vietnam is now home to over 300,000 hectares of cashews in the southern provinces of Binh Phuoc, Ba Ria – Vung Tau and Dong Nai; Phu Yen and Binh Dinh provinces in the central region; and the Central Highlands province of Dak Lak.

Source: VNA