At a conference in Hanoi on February 6 the Vietnam Cashew Association (Vinacas) revealed that for calendar year 2014 Vietnam exporters shipped cashew nuts to 50 nations around the globe. The US market accounted for the lion’s share of exports with a 30% market share, followed by the European Union (EU) at 25% and China at 20%. Last year was a highly successful year for Vietnam cashew exports with an overall volume of US$2 billion and processing capacity reaching 1.2 million tonnes, a representative of Vinacas said. The representative added that this year the cashew nut sector has set a target of amassing total export revenues of US$2.5 billion. Tran Van Hoa, Vice President of Binh Phuoc province’s cashew association in turn said that in recent years, the nation’s output averaged 400,000 tonnes per annum while local businesses’ processing capacity hit 1 million tonnes. Mr Hoa stressed that Vietnam still has to import 50-60% of its exports and faces tough competition from other nations, especially those from Africa. Therefore, the industry should enhance its competitive edge to secure a firm foothold in the global market. Last year, cashews continued to be one of the country’s key farm produce exports, just after rice, rubber and coffee.