Illustrative image (Source: VNA)
HCM City (VNA) – Cashew export revenue in the first two months of this year hit only 255 million USD, down 3.3 percent year-on-year, the Vietnam Cashew Association (Vinacas) told a press conference in Ho Chi Minh City on March 15.

Vinacas Chairman Nguyen Duc Thanh said during peak period in 2016, Vietnam exported 60,000 – 80,000 tonnes of cashew nuts per month but the monthly figure this year neared only 30,000 tonnes.

The cashew production in the first half of this year is forecast to drop compared to the same period last year due to changing weather that results in the spread of pestilent insects on cashew trees, said expert Pham Van Dau.

This year, businesses are encouraged to adopt clean production and expand domestic and foreign markets, towards maximising cashew trade value, Thanh said, adding that the Association will also devise a scheme on using advanced processing technology to improve competitiveness of the product.

According to him, Vietnam has been the world’s largest cashew nut producer for 12 consecutive years.

Last year, cashew nut was Vietnam’s major agricultural produce, only behind coffee in terms of export value. The country shipped 348,000 tonnes of cashew nuts worth 2.84 billion USD, up 5.6 percent in volume and 18.4 percent in value from a year ago.-VNA