Vietnam may not reach this year’s targeted cashew export value of 3.3 billion USD, due to a shortage of raw materials for cashew export processing. (Photo: vietnambiz.vn)
Hanoi (VNA) - Vietnam may not reach this year’s targetedcashew export value of 3.3 billion USD, due to a shortage of raw materials forcashew export processing.
Ta Quang Huyen, vice chairman of the Vietnam Cashew Associationand general director of the Hoang Son I Co Ltd, stated that Vietnam’s cashewexports in the first seven months of this year have reached a total value of 2.6billion USD.
The domestic cashew industry must import about 300,000 tonnes ofraw materials for export processing, to reach its targeted export value of 3.3billion USD for the entire year, Huyen added.
However, the cashew crop season in West Africa has already endedso the available supply of raw materials from this region will not be toosignificant, making it difficult for the domestic cashew processing industry,he further said.
“In the first seven months of this year, Vietnam’s cashewprocessing and export enterprises have imported 1.3 million tonnes of rawcashew nuts, 200,000 tonnes higher than in the same period last year,” saidNguyen Hue Chi Thai, a consulting expert at the association.
By the end of the year, the demand for cashew nuts in the worldmarket will increase, especially for Christmas. Therefore, factories willcontinue to import 300,000 tonnes of raw cashew for processing and export tomany countries, such as Libya, Mozambique, Tanzania and Indonesia.
However, due to unusual weather conditions, many African cashewgrowing countries, such as Libya, have reduced their cashew output by 250,000tonnes, so the two main regional suppliers of raw materials for the industryare Tanzania and Mozambique.
Indonesia will also supply 200,000 tonnes for the world market,but at higher prices, at 2,500 USD per tonne, compared to raw materials fromAfrican countries, so local businesses will have to calculate the cost of importingraw materials from Indonesia.-VNA
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Vietnam may not reach this year’s targeted cashew export value of 3.3 billion USD, due to a shortage of raw materials for cashew export processing. (Photo: vietnambiz.vn) 
