The National Agricultural Extension Center said Vietnam's cashew nut exports this year are expected to reach 3.4 billion USD. Production is estimated at 354,800 tons, an increase of 77.82% compared to 2017.
According to the General Department of Customs, cashew exports in the first 15 days of December reached 15,800 tons, worth 128.35 million USD, volume and value decreased by 2.4% and 0.5% respectively compared to the first 15 days of November.
Domestic cashew processing plants, mainly small-scale ones in Long An and Binh Phuoc, are facing a shortage of raw cashew nuts for processing cashew nuts for export. Export and Import Department, Ministry of Industry and Trade said that most of the factories have sold all cashew kernels in the first 5 months, the amount of cashew nuts for export is not much.
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One of the major agricultural products of Vietnam is the cashew nut export which has developed strongly in many countries in the world, no longer depend on the Chinese market.
As the world's largest exporter of cashew kernels, Vietnam annually imports over 1 million of the 1.4 million tonnes of raw cashew nut used for processing. Therefore, when the raw material market fluctuates, enterprises must incur such expenses as contract cancellation, late delivery, poor quality of raw materials, especially food hygiene and safety.
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At the beginning of 2017, the price of cashew nuts increased at a speed that many companies failed to catch up. In fact, the demand for cashew nut imports in some markets in the beginning of 2017 is often high, but many processing enterprises are very cautious in increasing the processing capacity, even the opposite, and reduce capacity considered
Oil production that Vietnam exported more than 600,000 tons per year, profits of not less than 2 million / ton
Vietnam Cashew Association (Vinacas) is focusing on four key programs are: "Accompanying farmers", "Cleaner Production", "Vietnam Value thing", "Export Development". It's information at once IX Vinacas congress was held
Viet Nam's cashew exports in January jumped 15.6 per cent year-on-year to US$183 million, according to the Ministry of Agriculture and Rural Development. In volume terms, they were up 9 per cent to 24,000 tonnes.