Country earns 2.29 billion USD from cashew nuts export in nine months

Friday, 07/10/2022 17:30
Vietnam exported 382,000 tonnes of cashew nuts abroad worth 2.29 billion USD during the opening nine months of the year, down 10.6% in volume and 14% in value year on year, VOV News quoted figures given by the General Department of Vietnam Customs.

September alone witnessed the country rake in 245 million USD from cashew exports, down 14.6% in volume and 10.3% in value compared to the previous month.

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Photo for illustration. (Source: VOV) 

The average export price of Vietnamese cashew nuts dropped by 3.7% to 5,992 USD per tonne, against the same period last year.

Experts largely attribute this decline to the negative impact of the ongoing Russia-Ukraine conflict, global economic recession, and high inflation hitting major economies, all of which have forced consumers to tighten their belts.

All of these external factors represent hurdles that are likely to make the United States move to reduce cashew nut imports in the remaining months of the year, despite facing a probable increase in consumption demand.

High-priced products are therefore unlikely to be the options of many people amid a gloomy outlook for the global economy, according to predictions made by think thanks.

However, they said there are still positive signs ahead as the demand for cashew imports from the EU and China has edged up remarkably, suggesting the local cashew industry strive to take full advantage of new-generation free trade agreements (FTAs) in order to boost exports to these markets.

At present, exports of most types of cashew nuts have increased, with the exception of the W240 and DW cashew grade.

The export proportion of W320 cashew accounted for 41.31% of the total volume and 45.53% of the total value, while that of W240 cashew made up 14.03% of the volume and 16.28% of the value.

Condé Nast Traveler: Two Vietnamese resorts among world’s 50 best

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 InterContinental Danang Sun Peninsula Resort in the central city of Da Nang ranks 24th on the list of 2022 Readers' Choice Awards. (Photo: www.danang.intercontinental.com)

Two resorts in Khanh Hoa province and Da Nang city have been voted among the world’s 50 best resorts by readers of American magazine Condé Nast Traveler (CNTraveler), reported Vietnam News Agency.

Six Senses Ninh Van Bay in the south central province of Khanh Hoa, and InterContinental Danang Sun Peninsula Resort in the central city of Da Nang ranked seventh and 24th, respectively, on the list of 2022 Readers’ Choice Awards.

“With dramatic views over Vietnam's Ninh Van Bay and open-air, thatched-roof villas where you can soak in the scenery from a bathtub, this Six Senses outpost also boasts its own endangered monkey reserve,” CNTravellers wrote about Six Senses Ninh Van Bay.

Visitors can take part in many activities such as hiking, fishing and watching the sunset. In particular, they can relax with swimming pools, restaurants and spas in the resort, it said.

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Six Senses Ninh Van Bay

In its review of InterContinental Danang Sun Peninsula Resort, CNTravellers wrote: “Though just 30 minutes from the Da Nang airport, InterContinental’s flagship Vietnam property feels much farther away from the “real world.”

“Scattered amongst the lush hills of the Son Tra Peninsula nature reserve and down to the sandy shores of the East Sea, the resort - which opened in 2012 - has become one of the top picks in the country for relaxing getaways.”

Topping the list of the world’s 50 best resorts this year is Adare Manor in Ireland, followed by Four Seasons Dubai in the United Arab Emirates (UAE), Uxua Casa in Brazil, COMO Uma Ubud in Indonesia. Eight Asian countries include on the list are UAE, Thailand, the Philippines, Malaysia, Bhutan, Sri Lanka, Indonesia and Vietnam.

More than 240,000 readers submitted responses rating their travel experiences for this year’s Readers' Choice Awards, which are in recognition of excellence in the travel industry.

Da Lat vegetables exported to Singapore, RoK

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Workers at Langbiang Farm in Da Lat city. (Photo: baolamdong.vn) 

Lettuce cultivated in the Central Highlands province of Lam Dong’s Da Lat city has been exported to Singapore and the Republic of Korea (RoK), reported Vietnam News Agency.

About 24 tonnes of the vegetable and others from the city's Langbiang Farm were shipped to Singapore at the beginning of October.

Tran Huy Duong, the farm’s owner, said the exported vegetables are cultivated with the application of hi-tech farming methods, adding that they must meet the food safety standards of both Vietnam and importing countries.

The local administration also said that up to 50 tonnes of the vegetable are ordered per week by enterprises from RoK and Japan.

Da Lat, blessed by nature with fertile soil and favourable climate conditions, is known for long as the kingdom of vegetables and flowers.

It is set to become a flower export hub in Southeast Asia, and aims to raise its annual export value of this product far beyond the current 50 million USD to match its yearly capacity of 3.1 billion cuts.

Ample room remains for Vietnam-Germany cooperation: diplomat

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Illustrative image (Photo: VNA)

Potential for cooperation between Vietnam and Germany remains huge with new opportunities, as Germany is currently an economic locomotive of the European Union (EU), and also Vietnam’s largest trading partner in the region, Vietnam News Agency quoted saying of Ambassador Vu Quang Minh.

Since the two countries set up their strategic partnership in 2011, two-way trade doubled to 11.2 billion USD in 2021. The figure hit 6.2 billion USD in the first half of this year, up 15% year-on-year.

As of May 31, Germany had 426 valid investment projects worth 2.31 billion USD in Vietnam, while the Southeast Asian nation ran 36 projects totaling 283.3 million USD in the European country.

In the context the two countries and the whole world are quickly recovering post COVID-19, bilateral trade and investment are forecast to grow further in the coming time, stated Minh.

In addition, Vietnam is seen as a reliable partner and a leading attractive market of German businesses and investors, he said, adding that many delegations of German firms are scheduled to make fact-finding tours to the Vietnamese market from now to the end of this year.

Vietnam also boasts advantages to cooperate with German energy companies to develop clean and renewable energies such as wind power, solar power, and hydrogen production. Especially, Germany recently backed the Group of Seven (G7)’s selection of Vietnam as a global partner in just energy transition.

The diplomat affirmed that this is a ‘golden opportunity’ for the two countries to promote bilateral cooperation and bring their strategic partnership to a new height, not only in politics and security, but also in economics, trade, science and technology, and education and training, and labour cooperation./.

 

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