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Import of cashew material surges

Update: 12/8/2013

With such figures, the import of cashew material in the period shot up by 79.8% in volume and 77% in value year-on-year.

According to the Ministry of Agriculture and Rural Development, compared to the cashew export turnover in the January-July period which was US$759 million, the added value of cashew export is quite low as the sector still depends much on imported material.

According to the director of a cashew processing firm, many local enterprises do not have money to import material but mainly accept outsourcing orders to process cashew for foreign traders to maintain jobs for workers.

The lack of cashew material for processing results from the impact of the weather and low cashew prices, which prompt farmers to replace cashew by other crops, according to experts.

According to the Vietnam Cashew Association (Vinacas), Vietnam needs to import around 180,000 tons of raw cashew in the final months of the year to process. Cashew is imported mainly from Cambodia, Ivory Coast, Ghana, Nigeria, Guinea-Bissau and Indonesia.

Nguyen Van Chieu, vice chairman of Vinacas, said that Vietnam could process over 800,000 tons of cashew nuts each year but the current material supply failed to meet the need of enterprises. This is the reason for the strong increase in cashew import in the January-July period, he added.

Source: http://vietnambreakingnews.com

 

 

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