Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free Trade Agreement (EVFTA) to promote cashew nut export to France, said insiders.
Italian police have kept four containers of cashew nuts delivered to this country’s Port of Genoa, a stride in the settlement of a suspected scam involving 100 cashew nut containers exported from Vietnam.
The target of 3.8 billion USD in export revenue of cashew nuts for this year set by the Ministry of Agriculture and Rural Development (MARD) is quite feasible given the forecast on high demand for the product in the time to come, according to experts.
Vietnam’s cashew exports to the US in the first two months of the year rose by 21 percent in volume to 17,900 tonnes and 3.6 percent in value to 126.2 million USD year-on-year, according to the General Department of Customs.
Vietnam stood out as the world’s largest cashew exporter last year but there remains many challenges ahead for the country to retain its leading position in the future.
Vietnam raked in 221.47 million USD from exporting over 28,000 tonnes of cashew nut to China in the first half of this year, up 24.8 percent in value and 53.2 percent in volume year-on-year, according to the General Department of Customs.
Vietnam sustained its position as the world’s leading cashew processor and exporter in 2018, yet the country still suffered from certain losses, so the sector must strive to regain what it lost in 2018 and improve its export value in 2019, according to insiders.
Exports of agro-forestry-fishery products in the first four months of the years were estimated at 12.3 billion USD, a year-on-year surge of 11.9 percent, according to the Ministry of Agriculture and Rural Development.
The cashew sector enjoyed sharp year-on-year rises in export volume and value in the first three months of this year at 31 percent and 43.6 percent respectively thanks to higher quality and price.
The export turnover of 353,000 tonnes of cashew in 2017 touched 3.52 billion USD, the highest level ever recorded, according to the Ministry of Agriculture and Rural Development.
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
Vietnam’s cashew export in 2017 is hoped to reach 3 billion USD, an increase of 160 million USD from 2016, according to the Vietnam Cashew Association (VINACAS).
The cashew sector is expected to earn a record of 2.7 billion USD from export of 300,000 tonnes of processed cashew nuts this year, according to the Vietnam Cashew Association.
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