Vietnam shipped abroad 212,000 tonnes of cashew nut in the first ten months of this year for 1.34 billion USD, up 15.5 percent in volume and 8.5 percent in value despite a sharp fall in price.

The Ministry of Agriculture and Rural Development said the US, China and the Netherlands remain Vietnam’s largest markets, consuming 34 percent, 17 percent and 10.2 percent of the country’s exports respectively.

Facing many difficulties in the global cashew market, the export of Vietnamese cashew has continued to grow thanks to the sector’s trade promotion efforts, especially in new markets in the Middle East and Northern Asia .

According to the Vietnam Cashew Association (Vinacas), Vietnamese cashew has so far reached 100 markets around the world.

The association held that cashew exports will improve in the final two months of this year with signs of a price rise and increasing demand, especially in the upcoming Christmas period and New Year.

Since 2009, Vietnam has been the world’s largest cashew exporter. In 2012, the country shipped abroad 223,000 tonnes for 1.48 billion USD.

Earlier this year, Vietnam set a target of earning 1.5 billion USD every year in the 2013-2015 period from exporting cashew and cashew products. Vinacas recently forecast that the figure may reach 1.7-1.8 billion USD.-VNA