Vietnam emerges as largest importer of cashew nuts from Cambodia

Society – Economy - Ngày đăng : 11:55, 11/09/2024

Vietnam was the largest importer of cashew nuts from Cambodia with import volume reaching 786,530 tonnes worth roughly US$1 billion, accounting for nearly 95% of Cambodia's raw cashew output during the seven-month period, according to statistics released by the General Department of Vietnam Customs.

vietnam emerges as largest importer of cashew nuts from cambodia picture 1

These figures marked a sharp increase of 34.1% in volume and 26.3% in value compared to the same period from last year.

The proportion of Cambodian cashew nuts accounted for 47.2% of Vietnam’s total cashew nut import turnover, an increase of 9.6 percentage points compared to the same period from last year.

At present, Vietnam is the world's leading country in terms of cashew production and exports. The nation exported approximately 478,000 tonnes of cashew nuts worth US$2.77 billion during the eight-month period, a rise of 22.9% in volume and 21.7% in value on-year.

The country has mainly relied on imported raw cashews for cashew processing and production, including a large amount of cashew from neighbouring Cambodia.

In recent years, along with Africa, Cambodia has also advocated the development of domestic processing industry by gradually reducing raw exports.

The Vietnam Cashew Association has therefore advised local firms to ensure raw material supply sources in a bid to maintain the country’s position as the world’s leading cashew exporter.

Insiders pointed out that amid difficulties in increasing the cultivation area, Vietnamese cashew enterprises are required to co-operate and develop cashew material areas in Cambodia and southern Laos.

VOV