Speaking at a conference held in Ho Chi Minh City on July 12 to review
the industry’s performance in the first half of this year, Dang Hoang
Giang, Vinacas general secretary, said some 115,000 tonnes of cashew
worth 716 million USD were exported in the period.
This represented a year-on-year increase of 30.3 percent in volume and 18.8 percent in value, he said.
However, the average export price for the period was 6,185 USD per
tonne, down 9.46 percent against the same period last year, he said.
The US remained the biggest importer of Vietnamese cashew, followed by China, EU and Australia.
Giang said cashew businesses have encountered many difficulties in the
first half of the year, including shrinking output and a shortage of
working capital.
Cashew output last year was just 264,810 tonnes, compares to 301,730
tonnes in the preceding year. The output for this year would be even
lower, he said.
For the second half of the year, there are both positive and negative signs for the cashew industry, according to Giang.
Regarding the negative aspects, he said the world economy has been recovering very slowly from the prolonged slump.
In addition, India recently raised its import duties on cashew nut, causing difficulties for Vietnamese exporters.
But the appreciation of the US dollar against the Vietnamese dong and
the stimulation packages launched by big markets like the US, Japan and
the EU to increase local consumption are positive factors, he said.
Vinacas forecasts that demand for cashew in the world market will
increase from now to the end of the year, given that many festivities
take place during this period.
To meet its export target, Vietnam would need to import about 180,000
tonnes of raw cashew in the remaining months of the year for processing,
Giang said.
Domestic processing companies imported 220,000 tonnes of raw cashew in
the first half of the year, up nearly 88.9 percent from the same period
last year, mostly from Cambodia, Ivory Coast, Ghana, Nigeria, Guinea
Bissau and Indonesia./.
Source Vietnamplus
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