Cashew exports target US$4 billion by 2015

(VOV) - The Vietnam Cashew Association (VINACAS) has set a 2013-2015 export target of over US$4 billion, equivalent to US$1.4-1.5 billion each year. 

To fulfill its goal, the association’s member enterprises need to focus on traditional markets including the US, EU, China and Australia, VINACAS said at its meeting in HCM City on December 21.  

They also need to promote their presence in the Middle East, East Europe, North Asia and ASEAN nations.

The association advised its members to enhance their quality of service, increase direct sales to importers and distributors, participate in trade and investment promotion activities, and improve their proficiency in foreign trade and export payment.

In addition, VINACAS proposed Government support, including short- and middle-term loans totalling VND43 trillion to buy raw cashew materials in the 2013-2015 period, a 0.5 percent decrease in material import tax, and a tax payment extension of 6-12 months for raw cashew imports.

VINACAS forecasts many export difficulties in 2013, including technical and trade barriers from import countries, requiring the sector to thoroughly supervise their production process and renovate their technology to meet market requirements.

Vietnam has been the world largest exporter of cashew nuts for seven consecutive years. In 2012, it shipped 220,000 tonnes abroad, earning US$1.45 billion.

Vietnamese cashew nuts are available in more than 100 countries and territories. The US is the biggest market with 35 percent of Vietnam’s exports. It is followed by China and the EU with 20 percent each.

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