Vietnam plans to export 360,000 tons of cashew nuts worth 3 billion U.S. dollars in 2017, up 3.4 percent in volume and 5.6 percent in value against 2016, according to the Vietnam Cashew Association on Monday.
In the first five months this year, its cashew nut export totaled 112,000 tons, worth 1.1 billion U.S. dollars, presenting a 9.5-percent decrease in volume but a 12.8-percent increase in value, according to the Ministry of Agriculture and Rural Development.
Major importers of Vietnamese nuts included the United States, the Netherlands and China.
However, the material shortage is forcing Vietnam to import material cashew nuts. In the first five months of this year, Vietnam imported some 428,000 tons of the material totaling 835 million U.S. dollars, up 74.6 percent in volume and 125 percent in value year-on-year, mainly from Tanzania, Cambodia and the Ivory Coast.
Last year, Vietnam's cashew export made up over 50 percent of the global trading value of the product.