Cashew exports to reach $2.2b in 2014

According to the report, the export price of cashew nuts stood at $6,182 per tonne during the period, 1.8 per cent higher than last year's corresponding period.— VNA/VNS Photo Duong Chi Tuong

HA NOI (Biz Hub) — The turnover for the cashew sector is likely to be US$2.2 billion this year from exporting 180,000 tonnes of cashew nuts, shipments of nut shell oil and other processed products.

The Viet Nam Cashew Association (Vinacas) forecast was included in a report from the Ministry of Agriculture and Rural Development, which showed that cashew nut exports had reached an estimated 20,000 tonnes in April, earning the country $132 million.

The latest figure brought the total cashew nut export volume up 15 per cent to 73,000 tonnes in the first four months, with sales of $456 million, up 16 per cent in value, over the same period last year.

According to the report, the export price of cashew nuts stood at $6,182 per tonne during the period, 1.8 per cent higher than last year's corresponding period.

The United States, China and the Netherlands remained the three largest export markets for Vietnamese cashew nuts, making up 28.5 per cent, 20.01 per cent and 9.1 per cent, respectively, of Viet Nam's export value.

Vinacas recently unveiled a Viet Nam cashew value programme that targeted raising the value of exports, promoting consumption both in the domestic and foreign markets, and building brands for the country's cashew products.

For the programme, which will be implemented from this year through 2020, the association will co-operate with the HCM City Nutrition Centre to research and assess the nutritional benefits of cashew.

It will collaborate with the Global Cashew Council and its nutritional research programme to promote the nutritional aspects of Vietnamese cashew globally.

The VND20 billion ($947,000) programme will build national cashew brands; register a trademark to protect Vietnamese cashew products in key markets such as the United States, China, and the European Union; and develop new products that are suitable for local tastes. — VNS