The Vietnam Cashew Association (Vinacas) announced the report of production and trading of cashew nut in 2018 at a meeting on January 11.
Processing production topped 1.65 million tons of raw cashews; cashew nut export volume reached 391,000 tons of cashew nuts, up 7.8 percent in volume compared to the previous year, bringing in US$3.52 billion.
It is forecast that cashew production and export will continue to reduce export volume and increase quality with export target of 350,000 tons of cashew nuts this year.
As local raw cashew is not always available and enough for processing while the price of imported cashew is too high but its quality is low, Vinacas has proposed banks to provide financial support for processing firms and asked the Ministry of Industry and Trade to help with solutions to develop and expand market.
Vinacas has also planned to survey Western Asian market in June this year.