Vietnam's export market of cashew will grow strongly at the end of the year?
In the past few years, the turnover value of the cashew industry has miraculously increased because Vietnam has recognized the importance of this agricultural product and an inevitable consequence is that cashew nuts have joined. in the ranks of indispensable agricultural industries.
According to the Department of Agricultural Product Processing and Development, the export of cashew nuts in the first 6 months of 2019 is estimated at 197,000 tons and 1.5 billion USD, an increase of 13% in volume but down 11% in value compared to the same. period 2018.
The US, China and the Netherlands are the three largest import markets of Vietnam, accounting for 32.3%, 14.1% and 9.5% of the total export value of cashew nuts respectively.
For the first 6 months of the year, cashew exports to China increased by 46% over the same period to over 28,200 tons.
According to the Vietnam Cashew Association (Vinacas), China's consumption of cashew nuts has increased a record and is very strong, partly because the US nuts are taxed, so the humanity is much used by Chinese people because cheaper price.
Looking at the growth of cashew consumption in the first 6 months, it can be seen that Vietnam will have a good year of processing and export. Vinacas forecasts that in the end of the year, all export markets of Vietnam will continue to grow strongly.
Therefore, businesses need to be sensitive, keep up with the fluctuations of the market to take advantage of every opportunity to increase the efficiency of production, business and export and avoid risks and losses before opportunities and the challenge of the marketplace.