Cashew Nut Exports Hit US$408Mln in Ten Months
Vietnam shipped 86,400 tons of cashew nuts in the first ten months of this year, raking in US$408 million, up on-year .4 per cent in volume and 18.1 per cent in value, according to the Government Statistics Office.
The figure included US$50 million earned in October, during which 11,400 tons of cashew nuts were shipped abroad, the statistics reported.
The increase in value was attributed largely to the growing price of cashew nuts in the world market, which made Vietnamese cashew nuts see a 19 per cent year on year rise to US$4,722 per ton.
This year, the country plans to export 110,000 tons of cashew nuts and earn US$450 million, chiefly to the US, China and Australia.
The target, however, is under threat for the cashew nut exporters as they do their jobs with a lack of professionalism while the government has also poured inappropriate investment into the cashew industry.
The country currently has 282,300 hectares under cashew tree cultivation, which will expand to 500,000ha in the next five years.
The People
Vietnamese
