Vietnam remains world’s largest cashew kernel exporter

NDO – The Vietnam Cashew Association (Vinacas) held its 10th Congress for the 2021-2026 tenure in Ho Chi Minh City on February 26.

Within the congress, the Executive Board of Vinacas for the new term was elected, including 17 members. Vinacas Chairman for the 2016-2020 term Pham Van Cong was re-elected to hold the position for the 2021-2026 tenure.

Addressing the congress, Minister of Agriculture and Rural Development Le Minh Hoan suggested that Vietnam’s cashew industry continue in its efforts to reduce production and business costs while further increasing the added value of cashews.

In the context of the current unpredictable world, the cashew industry needs to have a long-term vision and development orientation, and actively prepare plans to deal with possible situations, he added.

According to the Ministry of Agriculture and Rural Development, the total cashew area of Vietnam in 2021 was estimated at about 305,000 hectares, with the total output of raw cashew nuts at about 367,200 tonnes and the average yield at 1.18 tonnes per hectare.

Vietnam's cashew export revenue in 2021 reached nearly 3.66 billion USD, an increase of 14% compared to 2020, accounting for about 7.52% of the total export revenue of Vietnam’s agricultural industry.

According to Vinacas, the country exported about 609,260 tonnes of cashew kernels in 2021, earning total revenue of nearly 3.75 billion USD, an increase of 16.81% compared to 2020, although the average export price decreased by about 1 ,69%. Most of the cashew kernels were officially exported by sea to more than 100 markets around the world. Vietnam imported over 3.14 million tons of raw cashew nuts in 2021.

With these results, Vietnam continued to maintain its leading position in the world in terms of cashew kernel exports, accounting for 80% of the world's total exports. Vietnamese cashew nuts currently account for about 90% of the market share in the US and China, 80% in the Netherlands, and 60% in Germany.

In 2022, Vietnam’s cashew industry continues with the goal of maintaining stable quantity while increasing the quality and selling price of product. Maintaining the cultivation area, with the average yield expected to reach about 1.25 tonnes per hectare, the total output of raw cashews will be about 370,000 tonnes, earning total export revenue of about 3.8 billion USD.