CASHEW INDUSTRY AND THE VIETNAM AGRICULTURAL DEVELOPMENT
Written by SOFIA TRAN
May 24, 2023
Cashew nuts are one of the agri-products with high economic value contributing significantly to the Vietnam agriculture sector’s growth.
The story of the cashew nut begins in the 1990s when they were encouraged to cultivate in arid and low-production areas by the Vietnamese government. With characteristics suitable for specific geographical areas and climates, cashew trees are mainly concentrated in the Central and Central Highlands regions.
Throughout the years, cashew nut has become one of the most important agri-products of Vietnam. The cashew nut production industry creates many jobs for local people and improves income improvement, especially in cashew planting areas such as Binh Phuoc, Binh Dinh, Ninh Thuan, Dak Lak, and Gia Lai,… From that, the cashew nut production industry promotes local economic development and improves the local people’s living standards contributing to socio-economic development in general.
In particular, the cashew industry also brings a large source of foreign currency to the country as it is one of Vietnam’s key export agricultural products, contributing to export growth and promoting national economic development. According to the Export Report of Fisheries and Key Agricultural Products 2020 of the Ministry of Agriculture and Rural Development, in 2020, Vietnam exported more than 250,000 tons of cashew nuts to many markets around the world (nearly 800 million USD in revenue) contributed to export growth and national economic development. The export of cashew nuts helps increase income for many farmers in the area, and at the same time creates income for many related industries, such as transportation, processing, and export. Moreover, exporting cashews also helps to improve trade and strengthens economic partnerships between countries around the world.
With these roles, the cashew industry is playing an increasingly important role in Vietnam’s agriculture in particular and Vietnam’s economy in general. To make the most of the development potential of cashews, investment in research, improvement of production and marketing techniques, and improvement of product quality is required to meet the requirements of strict markets. In addition, the government needs to take supportive policies for cashew nut exporters, helping them improve their competitiveness and access new markets. At the same time, it is necessary to introduce measures to manage and protect the environment to preserve Vietnam’s sustainable advantages in production.
Hanfimex Group is proud to be one of the reputable cashew exporters in Vietnam with the 6F Concept: “FRESH FARM – FAIR FACTORY – FINE FOOD”. In fact, together with the practice of SMETA, FAIR TRADE standards, we are committed to bringing high-quality products to our partners, contributing to improving the lives of farmers and the quality of the working environment of workers. Hanfimex Vietnam always upholds the spirit of social responsibility in the process of creating each product for consumers, contributing to the sustainable development of Vietnam’s agriculture in particular and the Vietnamese economy in general.
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