Vietnam increases raw cashewnut imports from Cambodia

Statistics show Cambodia became the largest cashewnut seller to Vietnam in the first five months of this year, supplying nearly 760,000 tonnes of the product valued at over US$971 million, up 39% in volume and up 29% in value from a year earlier.

Along with Cambodia, Vietnam also imported nearly 450,000 tonnes of raw cashewnuts from other markets such as Ghana, Indonesia, Nigeria, Tanzania, and Ivory Coast.

Vietnam processes 3.5 - 4 million tonnes of cashew nuts for export by purchasing raw materials to process into kernels. However, processors heavily rely on the purchase of raw materials as up to 90% of the unprocessed products are imported.

Vietnam is currently the largest cashewnut exporter in the world, accounting for nearly 80% of total global output, and it has held the position for 16 years in a row.

It aims to earn US$4 billion from cashewnut exports this year compared to more than US$3.6 billion recorded last year.