Cashew nuts are comestible kidney-shaped nuts, gorgeous in oil and protein, and are roasted and bombarded before eaten. Oil extracted from the shells is utilized as a lubricant, in the introduction of plastics.
According to the report analysis, ‘Vietnam Cashew Comprehensive Report Q1/2020’ states that in the Vietnam cashew market there are several corporates which presently operating more actively for leading the fastest market growth and registering the handsome value of market share around the region throughout the region while spreading the awareness related to the applications of cashew, delivering the better consumer satisfaction, decreasing the linked price, employing the young workforce, increasing the applications, productivity, durability and strength of the cashew, accepting the profitable strategies and studying the strategies of competitor’s includes OLAM Vietnam Co.,ltd, Hoang Gia Luan Trading service Co.,ltd, Long Son JSC, Hoang Son JSC, Trading production Co.,ltd, Cao Phat Co.,Ltd, Rals International Vietnam Co.,ltd, Hai Viet Co.,ltd, Long An Food Processing Export JSC, Thao Nguyen Co.,ltd and several others.
In addition, Cashew is grownup majorly in India, Ivory Coast, Brazil and Vietnam. The raw cashew established volume sustained to augment with a CARG of 3% throughout the crop 2009/2010-2018/2019. During the 2018/2019 crop, India was the world’s greatest raw cashew manufacturer, registering for 22.32% of the worldswide raw cashew production.
Vietnam is recently the principal exporter of cashew nuts in the worldwide with the export volume dominating for 55% of the worldwide production in 2018. Despite being the world’s greatest cashew exporter, Vietnam Cashew industry is still facing several challenges, the domestic introduction only meets around one-third of the requirement of export processing enterprises.
Furthermore, Vietnam is resounding out high-density planting, commercial farming, and seed programs to guarantee great yields. It also capitalized profoundly in mechanizing the whole cashew processing to safeguard on labor, and bring steadiness and cost competitiveness. During the last eight years, Vietnam had augmented its existence to over 85 regions. It is the greatest supplier of cashew to the United States, China, Australia, Canada, and New Zealand.
In the foremost 9 months of 2019, the processing originalities exported thousand tons of cashew of all classes, the export turnover grasped millions USD. Vietnam cashew exports sustained to control the leading position in the globe, registering for 50% of the processed raw cashew capacity and over 60% of the cashew nuts exported across the globe.
The panorama of Vietnam’s cashew industry still has several growth choices in the coming years owing to the augmenting requirement for nuts and dried fruits to safeguard the health of customers in the world. Several businesses are aggressively researching to bring to the market several traditional dishes and cakes that utilize the raw materials as cashew kernels.
In 2018, most businesses in the industry had positive growth in net revenue and the average net revenue growth rate of the whole industry reached 0.57% due to the remarkable growth of cashew exports in 2018, the record cashew processing production as well as the stability of the market and the rise of export prices. Therefore, in the near duration, it is predicted that the market of cashew will increase around the region more significantly over the coming years.
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Related Report:-
Global Dried Cashew Nut Snack Market Research (2015-2019) and Future Forecast (2020-2025)
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