Classifying cashew nuts at Nguyen Thong company, Tuy Hoa city, Phu Yen. (Photo: VNA) Talking to the press in Ho Chi Minh City on October 10, VinacasChairman Pham Van Cong said the exports faced many difficulties in the firsthalf due to the impact of inflation, economic recession, and conflicts betweencountries. However, from the third quarter onwards, the market has been pickingup, with the two major ones – the US and China – increasing their imports contributingto the growth in both export volume and value.
Between January and September, 456,000 tonnes of cashew nuts were sold abroad for2.6 billion USD, up 19.6% and 14.3% year-on-year, respectively.
According to the association, the demand for cashew nuts inthe last three months of the year will increase in all markets, especially theUS and the EU, to meet holiday and festive season demand, driving furthergrowth in Vietnam’s exports of the product.
However, while the market outlook is promising, Vinacas hasalso noted an increasing number of incidents where shipments are flagged byimporters due to pests and pesticide exceeding permissible levels.
Vinacas Standing Vice Chairman Bach Khanh Nhut said this notonly affects individual businesses but also tarnishes the reputation of theentire Vietnamese cashew industry. This is also the reason why the export pricesof the Vietnamese nuts are currently lower than those from India./.
VNA
