The Vietnamese cashew sector expects to pocket 1.8 billion USD from exporting 180,000 tonnes of nuts in 2014.
At a conference on the purchase and import activities of raw cashewheld in Ho Chi Minh City on February 26, the Vietnam CashewAssociation (Vinacas) predicted that with nut shell oil and otherprocessed products included, the export revenue will be around 2.2billion USD.
Vinacas set a target of buying 350,000tonnes of raw cashew nuts from domestic farmers while importing another650,000 tonnes from West African, East African and Southeast Asiancountries this year.
Association President NguyenDuc Thanh said that Vietnam’s agricultural exports, including cashewnuts, continue facing barriers created by its major importers, such asthe Food Safety Modernisation Act of the US Food and DrugAdministration.
He suggested the State designpolicies to encourage businesses to invest more in cashew processing andproduce auxiliary products, diversifying foodstuffs to serve bothdomestic and foreign markets.
In the first twomonths of 2014, Vietnam shipped abroad an estimated 28,000 tonnes ofcashew nuts totaling 169 million USD, representing a year-on-yeardecrease of 0.1 percent in volume but a rise of 2.4 percent in value.
The US, China and Holland are Vietnam’s largestimporters, consuming 26.17 percent, 20 percent and 9.84 percent of thecountry’s exports, respectively.-VNA
At a conference on the purchase and import activities of raw cashewheld in Ho Chi Minh City on February 26, the Vietnam CashewAssociation (Vinacas) predicted that with nut shell oil and otherprocessed products included, the export revenue will be around 2.2billion USD.
Vinacas set a target of buying 350,000tonnes of raw cashew nuts from domestic farmers while importing another650,000 tonnes from West African, East African and Southeast Asiancountries this year.
Association President NguyenDuc Thanh said that Vietnam’s agricultural exports, including cashewnuts, continue facing barriers created by its major importers, such asthe Food Safety Modernisation Act of the US Food and DrugAdministration.
He suggested the State designpolicies to encourage businesses to invest more in cashew processing andproduce auxiliary products, diversifying foodstuffs to serve bothdomestic and foreign markets.
In the first twomonths of 2014, Vietnam shipped abroad an estimated 28,000 tonnes ofcashew nuts totaling 169 million USD, representing a year-on-yeardecrease of 0.1 percent in volume but a rise of 2.4 percent in value.
The US, China and Holland are Vietnam’s largestimporters, consuming 26.17 percent, 20 percent and 9.84 percent of thecountry’s exports, respectively.-VNA
