Viet Nam exported 272,000 tonnes of cashew nuts at a value of $1.97 billion in the first 10 months of the year, a year-on-year increase of 6 per cent in volume and more than 18 per cent in value. — Photo vtv4

HCM CITY (Biz Hub) — Cashew export value is expected to reach a record high of US$2.5 billion this year, according to the Viet Nam Cashew Association (Vinacas).

Viet Nam exported 272,000 tonnes of cashew nuts at a value of $1.97 billion in the first 10 months of the year, a year-on-year increase of 6 per cent in volume and more than 18 per cent in value.

The association has encouraged its members to focus more on processed products and producing "green and safe" products.

It also plans to promote sales in the domestic market in an effort to raise the industry's total trade value to $2.7 billion next year.

Vinacas will organise the seventh Golden Cashew Rendezvous in HCM City from November 22-24, with the aim of introducing foreign buyers to the cashew processing industry's sustainable development strategy and expanding market share for cashew products.

As part of the national trade promotion programme, the event will include the Viet Nam-Africa cashew forum, Viet Nam cashew value forum, a panel discussion on the global cashew market in 2015 and forecasts for 2016, and a Viet Nam cashew exhibition and technology seminar.

Participants will include policymakers, leaders of localities and local and international associations, more than 300 business delegates, of whom 65 per cent are representatives of foreign companies from 30 countries and territories.

Last year, the country earned $2 billion from exporting 300,000 tonnes of cashew nuts and $200,000 from cashew byproducts.

In 2014, for the ninth consecutive year, Viet Nam ranked first in the world in cashew nut exports. — VNS