Cashew exports likely to pick upUpdate: 9/20/2013
(VOV) – The Vietnam Cashew Association believes cashew exports will pick up in the remaining months of this year.
Dong Nai Cashew Association President Nguyen Thai Hoc says the export price of cashew which averaged less than US$6,300 per tonne in the first two quarters rose to US$7,600 per tonne by early August.
But the export volume was equal to 70 percent of 2012′s levels due to capital shortage and insufficient supply.
In the first eight months of 2013, Vietnam exported 168,000 tonnes of cashew nuts and earned US$1.07 billion, 18% and 10% higher in volume and value than the same period last year.
Donafoods General Director Nguyen Thai Hoc says the company has actively negotiated the import and processing of 70,000-80,000 tonnes of rawcashes by African nations on behalf of Dong Nai Cashew Association members. The deal demands around US$70 million worth of funding.