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Vietnam may miss cashew export target due to shortage

Vietnam may not reach this year’s targeted cashew export value of 3.3 billion USD, due to a shortage of raw materials for the cashew export processing.

Ta Quang Huyen, vice chairman of the Vietnam Cashew Association and general director of the Hoang Son I Co Ltd, stated that Vietnam’s cashew exports in the first seven months of this year have reached a total value of 2.6 billion USD.

The domestic cashew industry must import about 300,000 tonnes of raw materials for export processing, to reach its targeted export value of 3.3 billion USD for the entire year, Huyen added.

However, the cashew crop season in West Africa has already ended so the available supply of raw materials from this region will not be too significant, making it difficult for the domestic cashew processing industry, he further said.

By the end of the year, the demand for cashew nuts in the world market will increase, especially for Christmas. Therefore, factories will continue to import 300,000 tonnes of raw cashew for processing and export to many countries, such as Libya, Mozambique, Tanzania and Indonesia.

Read more at en.vietnamplus.vn

Publication date: 8/29/2017


 


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