VOV.VN - Despite facing challenges caused by COVID-19, the Vietnamese cashew industry has witnessed an upturn during the past 11 months and is likely to surpass the US$3.6 billion export target this year, according to statistics released by the General Department of Vietnam Customs.
Vietnam exported approximately 531,500 tonnes of cashew worth US$3.34 billion over 11 months, up 14.4% in volume and 14.7% in value year on year, with the average export price edging up 0.2% to US$6,288 per tonne.
November alone witnessed Vietnamese cashew nut exports to several traditional markets increase sharply, with the exception of China, the United Kingdom, and Russia.
During the reviewed period, cashew nut exports to the United States, China, the Netherlands, Germany, and Canada inched up, while exports to Australia and the UK endured a decline.
Despite the complicated developments of the COVID-19 pandemic and difficulties occurring in logistics costs, local cashew nut processors and exporters have managed to maintain production and ensure supply sources.
In addition, new generation free trade agreements (FTAs) have helped the Vietnamese cashew industry ramp up exports to major and potential markets such as the European Union, Russia, Canada, the United Kingdom, and Japan.
Most notably, the local cashew industry has maintained export growth to the United States, the country’s largest and important export market.