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Cashew exports likely to earn US$1.4-1.5 billion in 2011
Cashew exports in 2011 are likely to reach 190,000 tonnes, earning US$1.4-1.5 billion, down 4,000 tonnes in volume but up 32 percent in value against the previous year.
Vietnam is also expected to remain the world’s No.1 cashew exporter.
According to the General Statistics Office (GSO), cashew exports in May reached 53,000 tonnes, down 13.4 percent in volume but up 22.2 percent in value compared to the same period last year.
This is attributed to an increase in the export price of cashew nuts, which hovered around US$7,289 per tonne in April
The US is still Vietnam’s biggest cashew importers spending US$27.54 million in April, followed by China (US$14.97 million), and the Netherlands ((US$12.49 million).
15 of Vietnam’s 20 cashew markets saw an increase in value the first four months this year.
In order to meet the set target, Vietnamese cashew exporters should expand their business to potential new markets such as Hong Kong, Taiwan, and Japan through export promotion campaigns and attending trade fairs to seek new partners.
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