Processing cashew nuts for export (Source: VNA)Hanoi (VNA) – Vietnam’s cashew sector aimsto earn 4 billion USD in export turnover in 2020.
According to the Vietnam Cashew Association (Vinacas), the sector will focus on deep processing, improving quality and diversifyingproducts towards realizing the goal.
In 2019, the sector imported over 1.5 million tonnes of raw materials, mostly from Africa, to meet its processingand production demand.
Mergers and acquisitions have alsotaken place this year with more and more large-scale enterprises operating inthe industry, the association said.
By the end of November, Vietnamesebusinesses had shipped more than 418,000 tonnes of cashew abroad for almost 3billion USD, while this year’s targets are 450,000 tonnes and 3.5 billion USD.
The US is still the biggest importer of Vietnamesecashew nuts, followed by China and the Netherlands.
Data from the Ministry of Agriculture and Rural Development shows that theagriculture sector enjoyed a trade surplus of 8.8 billion USD in the first 11months.
The country earned 37.3 billion USD from the export of farm produce andforestry and aquatic products during the period, a year-on-year increase of 3.6percent. Meanwhile, 28.5 billion USD was spent on agro-forestry-fisheryimports, down 0.7 percent.
China remained the largest buyer of agricultural products from Vietnam,accounting for 26.9 percent of total exports, followed by the US, the EU, ASEANand Japan./.
VNA
