According to figures released by the Department of Agro Processing and Market Development (Agrotrade), Vietnam raked in US$322 million through the export of 47,000 tons of cashew nuts in August. During the first eight months of the year, the country was able to export 287,000 tons of cashew nuts, earning a total of US$2.1 billion in the process, a rise of 18.8 per cent in volume, but a drop of 7.3 per cent in value against the same period from last year. The average export price of domestic cashew nuts fell 21.9 per cent to US$7,468 per ton in comparison to last year’s corresponding period. The US, China, and the Netherlands are the three largest consumers of Vietnamese cashew during the year to date, representing market shares of 32.7 per cent, 15 per cent, and 9.6 per cent of total cashew exports, respectively. Indeed, the exports of cashew to the US, the largest consumption market, saw a decline of 4 per cent in volume and 25.7 per cent in value. According to statistics from the US International Trade Commission, the average cashew import price of the US during the eight months fell 19.8 per cent to US$8,211 per ton against the same period last… Read full this story
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