Cashew exports likely to remain stable
Cashew businesses expect to export 220,000 tonnes this year, equivalent to 2011’s figure, according to the Vietnam Cashew Association (Vinacas).
At a conference in HCM City on February 26, Nguyen Van Chieu, Vinacas deputy chairman, said enterprises shipped 18,479 tonnes worth US$109.7 million abroad in January.
The shipments marked an increase of 52.86 percent in volume, but the average export price fell 20.5 percent to US$5,939 per tonne, Chieu said.
The US, EU and China are the main importers of Vietnamese cashew products.
Delegates at the conference said farmers can enjoy a bumper crop in 2013 if the rainy season begins early.
“If the rains do not come soon, cashew flowers will fade, badly affecting the yield,” said Le Quang Luyen, chairman of the Phuc An Company.
Farmers in many provinces have started to harvest cashew since early February.
With local supply falling short of demand, enterprises need to import about 400,000 tonnes of raw cashew from other countries to be processed for export, Vinacas deputy chairman Chien said.
They imported 25,430 tonnes of raw cashew worth US$24.3 million in January, up 64.5 percent in volume over the same period last year, mostly from Cambodia, Ivory Coast and other African countries.