Vietnam: Cashew industry aims to export 3.1 billion USD in 2023

Published 2023년 3월 4일

Tridge summary

The Vietnam Cashew Association (VINACAS) has set an export target of US$3.1 billion in 2023 for the cashew industry, a slight increase from the previous year. This targets an agro-forestry export-seafood market of $54 billion in 2023. The industry, however, faces challenges due to global demand and market challenges. The association advocates for a strategy of reducing quantity and increasing quality, with a focus on brand building and management, especially in the trend of green production and trade. The EU is leading this trend, requiring traceability and standards, and businesses in the cashew industry need to adapt to these standards.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Vietnam Cashew Association (VINACAS) has set an export target of US$3.1 billion in 2023, up 0.6 percent compared to 2022. At the 12th Vietnam International Cashew Conference (February 27 - 28), Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association (VINACAS) said that in 2023, although the global agricultural product market is expected to be It is forecasted that there will be a great demand for food and foodstuffs, the expansion of export markets in parallel with focusing on the domestic market will be the basis for Vietnam's agricultural industry to aim for agro-forestry export - seafood $ 54 billion in 2023 (an increase of $ 780 million compared to 2022). Vinacas cited data from the General Department of Customs, by the end of December 2022, Vietnam had exported 519,782 tons of cashew nuts, worth 3.08 billion USD. Compared to 2021, cashew exports decreased by 10.3% in volume and 15.1% in value. With this result, the cashew industry did not fulfill the target of ...
Source: Vinacas

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