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.
