HANOI, Sept. 26 (Xinhua) -- Vietnam's cashew exports are likely to strongly rebound by the end of the year after significant growth in both volume and value in the first eight months of this year, Vietnam News reported on Tuesday, citing industry insiders.

According to the Vietnam Cashew Association, Vietnam exported nearly 64,000 tons of cashew nuts in August and earned 343.4 million U.S. dollars, an increase of over 38 percent in volume and nearly 32 percent in value.

The cashew nut exports from January to August reached 400,000 tons in total with a value of over 2.25 billion dollars, up 16 percent and 13 percent respectively.

Dang Hoang Giang, general secretary of the Vietnam Cashew Association, said foreign consumers would spend more at the end of the year despite economic difficulties, and thus the cashew industry expected exports to further increase in the rest months of the year.

Pham Van Cong, chairman of the association, said it was important to strengthen promotions of Vietnamese cashews among consumers to boost exports to key markets.

Vietnam has set the cashew nut export target at 3.05 billion dollars by the end of this year, which is a big challenge for the whole industry though the figure is lower than that in 2022, according to the report.