Vietnam: Cashew exports see 28% increase
Speaking at a meeting in HCM City yesterday, Vinacas chairman Nguyen Duc Thanh said the average export price in the period was higher than a year earlier as prolonged drought in many countries pushed up the prices of many kinds of nuts, including cashew. Vietnamese exports rose by only 14 per cent in volume terms in the period.
The US, China and the Netherlands remained Viet Nam's largest buyers, accounting for 35.57 per cent, 14.66 per cent and 10.49 per cent of purchases.
Thanh said stocks of nuts, including cashew, in North America and Europe had been low in the first six months, while global demand for the nuts had increased strongly.
This offers good prospects for the cashew industry this year, he said.
The industry is expected to earn $2.2 billion from export of 300,000 tonnes of cashew nut and another $200,000 - $300,000 from export of cashew shell oil, he said.
Ta Quang Huyen, director of Hoang Son I Co, Ltd, said global demand for the nut has been forecast to go up strongly in the period from September to March, noting that he already had export orders for the year's latter months.
Click here to read more at vietnamnews.vn.
