Vietnam unlikely to achieve 4-billion-USD target from cashew nut exports

 

Hanoi (VNA) - Vietnam’s cashew nut producers will have to lower their 2020 export target of 4 billion USD as the impacts of the COVID-19 pandemic make it extremely difficult to achieve, according to Pham Van Cong, Chairman of the Vietnam Cashew Association (Vinacas).

In an interview with the Sai Gon Giai Phong newspaper, Cong said COVID-19 has had an unpredictable and substantial impact on the sector.

The 12th International Cashew Conference, initially planned for early March, was postponed to late June and then sometime in 2021.

A tour to explore the Chinese market - part of the National Trade Promotion Programme - has also been put on hold.

Cong highlighted the widespread impact of the pandemic on the sector, saying that both cashew nut export volumes and prices will fall. A figure of 3 billion USD, however, is entirely feasible, he said.

He advised Vinacas members and businesses involved in the sector to take precautions when purchasing raw cashews from Cambodia and Africa at this time.

Vietnamese cashew nut growers are facing their own difficulties, he added, calling on businesses to buy as much of the domestic output as possible./.