5 Questions about Vietnam’s cashew kernel exports in 2020
11/11/2020
965 Viewed
Honesty is quality
1/ How much can Vietnam’s cashew exports reach in 2020?
According to the General Department of Customs, at the end of November 2019, Vietnamese cashew nuts exporting to the US still accounted for the highest percentage (nearly 37% of the total volume and total cashew exports) with 123,565 tons, equivalent to USD 1.14 billion. The second largest market is China (accounting for 13% of the total volume and total turnover) with 44,810 tons, worth USD 392.65 million. Followed by the Dutch market (accounting for 12%), the UK market (accounting for 4%), the Southeast Asian market (accounting for 3%).
Economist Vu Thi Dao – Institute of Finance and Economics predicts that in 2019, Vietnam cashew industry will step through a new development cycle, with export turnover possibly reaching USD 4 billion.
2/ At this period, what is the position of Vietnam’s cashew exports in the world?
In 2019, Vietnam’s cashew exports reached USD 3.52 billion, continuing to surpass India and Brazil, Vietnam currently holds the No. 1 position in the world in cashew processing and exporting.
3/ Until now, how many countries around the world has Vietnam exported cashew nuts to?
According to statistics from the Vietnam Cashew Association, Vietnam cashew nuts are present in over 40 countries and territories worldwide with the export turnover increasing steadily over the years.
4/ In the value chain of the cashew industry, which stages is Vietnam participating in and what is the potential market for breakthrough development in the future?
Despite being the leading cashew exporter, the Vietnamese cashew industry only participates in the preliminary processing, equivalent to 18% of the value chain. The most profitable part still lies in the salt roasting processing and distribution with a total value of nearly 60%. This highlight is not only a challenge but also an opportunity that there is still a lot of room for businesses in the cashew industry to develop.
5/ Top 3 among cashew exporting and processing companies in Vietnam nowadays?
Over 5 years of operation and development, Fomexco Joint Stock Company has become a leading company in Vietnam in exporting organic cashew kernels. Cashew exports are also the company’s main business. In 2020, the volume of cashew nuts exported by the company reached 0.65% of the total cashew nut supplied to the foreign market, and the revenue reached VND 500 billion.
Source: Fomexco