Vietnam’s cashew export value up 30% in 1st 8 months

Vietnam exported 108,000 tons of cashew nuts in the 1st 8 months of this year, earning US$875-M, which posted a decline of 12% in volume, but an increase of 30% in value, Y-Y reported the Vietnam General Statistics Office (GSO) Wednesday.

According to the Vietnam Cashew Association (Vinacas), the country’s main importers were the United States, China, the Netherlands, Australia and the Britain. Despite economic difficulties, demands for nuts, including cashew, in these markets remained high.

However, in the first half, domestic enterprises had to import 120,730 tons of raw cashew nuts from Nigeria, Ghana, the Ivory Coast, Indonesia and Cambodia. They also need another 200,000 tons for their processing in Q-1 of next year, said Vinacas.

Vietnam expected to export about 163,000 tons of cashew nuts in Y 2011, earning US$1.32-B, down 17.6% in volume, but up 16% in value over last year, forecast the Vietnamese Ministry of Agriculture and Rural Development.

Tags: Vietnam Cashew exports

Posted by VBN on Sep 8 2011. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry