EU, China to buy more Vietnamese cashew nuts
Friday, 08/05/2020 16:55 (GMT+7)
EU countries and China are forecast to buy a greater amount of cashew nuts from Vietnam as COVID-19 will be controlled, leading to economic recovery and greater demand for imported goods.
Some 137,000 tons of cashew nuts were exported in 4 months. (Photo: baodautu.vn)
A report from Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development shows that, in the first four months of this year, Vietnam exported 137,000 tons of cashew nuts, earning USD948 million, a year-on-year increase of 19.4% in volume and 4.2% in value.
The US, the Netherlands and China remained the three largest importers of Vietnam’s cashew nuts, accounting for 36.8%, 11.9% and 6.9% of total exported value, respectively.
A representative from the Agro Processing and Market Development Authority said that Vietnam has an advantage in cashew exports over India, as India is implementing social distancing measures. As a result, buyers of cashew nuts around the world are forecast to turn to Vietnam to buy cashew.
The top import market, China, has reopened goods clearance with management measures to prevent and control COVID.
Another positive signal for the Vietnam cashew industry is that EU importers have high demand to buy goods for reserve because they are worried about widespread COVID-19 in Africa which will affect the supply of raw cashew for Vietnam and India./.
Compiled by BTA