Cashew exports increase by 55.2% in February

Cashew exports last month rose strongly to 24,000 tonnes, worth a total US$166 million, the Ministry of Agriculture and Rural Development announced on Mar. 3.

The volume was up 16 per cent and the value was up 55.2 per cent compared with February last year, the ministry said.

"The rise in value was attributed to the high price of cashews, more than $7,100 per tonne, the result of a year-on-year increase of 32.1 per cent," the ministry said.

However, despite the figures the cashew industry is predicted to face challenges this year, including a shortage of raw cashews and high interests rates.

Viet Nam Cashew Association Chairman Nguyen Thai Hoc said the shortage was forecast to be 300,000-450,000 tonnes.

Viet Nam is the world's biggest cashew exporter. Its top customers are the US, China and Holland.

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