Vietnam’s cashew export in 2017 is hoped to reach 3 billion USD, an increase of 160 million USD from 2016, according to the Vietnam Cashew Association (VINACAS).
Hanoi (VNA) – Vietnam’scashew export in 2017 is hoped to reach 3 billion USD, an increase of 160million USD from 2016, according to the Vietnam Cashew Association (VINACAS).
According to VINACAS, Vietnam’scurrent cashew tree area is about 300,000 hectares, mainly in the southernprovinces of Binh Phuoc, Dong Nai and Ba Ria Vung Tau.
However, 2017 cashew output isforecast to be about 300,000 tonnes, 150,000 tonnes less than in 2016 and250,000 tonnes lower than initial estimates.
The ENSO phenomenon (a combination of ElNino and La Nina) and a shorter dry season were cited as the main reasons forthe drop in cashew output.
In order to achieve the exportgoal, enterprises plan to import some 200,000 tonnes of raw cashew forprocessing.
VINACAS advised the sector, especiallycashew trading firms, to instruct farmers on intensive cashew farming toenhance output and quality while linking up with State, scientists, businesspartners and farmers to develop stable material growing zones.
The General Statistics Office reported that total cashew exports hit 18,000tonnes in January 2017, bringing home 164,000 USD, down 27.8 percent in volumeand 12.6 percent in value year-on-year.
Vietnam exported 347,000 tonnes of cashewlast year, earning 2.84 billion USD, up 5.6 percent in volume and 18.4 percentin value annually.
The US is the largest importer of Vietnameseprocessed 🔥cashew, accounting for 35 percent of the🎃 total. Europe makes up 25percent, followed by China with 18 percent.-VNA
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Cashew growing area in Central Highlands provinces has decreased sharply after local farmers replaced cashews by other crops due to degenerate old trees, pestilent insects and low production.
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Illustrative image (Source: VNA)
