Vietnam has to import about 300,000 tons of raw cashew nuts so as to fulfill this year's target of exporting 200,000 tons of cashews, worth 1.75 billion U.S. dollars, reported the Vietnam Cashew Association (Vinacas) on Thursday.

According to Vinacas, so far this year, domestic firms imported about 80,000 tons of raw cashew nuts, mostly from ASEAN, Brazil and India due to insufficient domestic supply and fluctuations in quality and price.

To reduce dependence on imports, Vinacas has developed an area of 200,000 hectares (2,000 square kilometers) for growing cashew nuts in southern provinces of Binh Phuoc, Dong Nai, Tay Ninh, Ba Ria-Vung Tau and Long An. The association also provided Cambodian farmers with seedlings with an aim to expand more supply sources of raw cashews for Vietnamese processors.

During the first four months of this year, the country shipped 55,000 tons of cashew nuts abroad, earning 380 million U.S. dollars, up 29 percent in value and 37 percent in volume, according to the Ministry of Industry and Trade (MIT).

If Vinacas'yearly target is met, the country's cashew exports would increase by 25,000 tons in volume and 250 million U.S. dollars in value over the last year, which would confirm the country's position as the world's leading cashew exporter, said Vinacas.

Last year, Vietnam ranked first in the world in cashew exporting, second in processing and third in productivity.