Cashew nut
Located in Southeast Asia, the soil and climate of Vietnam is very suitable for the growing of cashew. Having seen the economic value of cashew, from the 1980s, the government has initially had an interest in cashew, especially cashew processing technology. However, at that time, Vietnam mainly exported raw cashew nuts which brought low economic value and was forced about the prices. Until 1990, the Vietnamese cashew industry really prospered. In 2016, Vietnam was the world’s No. 1 processor and exporter of cashew nuts, with processing production about 1.58 million tons of raw cashew nuts, exports 348 thousand tons of cashews, reaching export turnover of over 2,86 billion USD (the highest level ever recorded), surpassing the rice export turnover.
PANGAEA entered into the cashew export industry in 2001 – a period in which the Vietnamese cashew industry has grown rapidly. Vietnam became the second largest producer, processor and exporter of cashew nut in the world, after India only. However, that was a very difficult time for the company because of inexperience and strict competition from other companies. Overcoming difficulties, thse Board of Directors and the employees had constantly striven to make PANGAEA becoming one of the top 10 exporters of Vietnam in 2017
