Vietnam cashew exports hit new record
Wednesday, 8 December 2010
HANOI, Dec 7 (Commodity Online): Major cashew nut producer and exporter, Vietnam said its exports hit 180,000 tones till November, earning a record, more than $1 billion.
According to Vietnam Cashew Nut Association (VCNA), country's cashew nut exports achieved such high results because raw cashew nut harvests in India, Brazil and Indonesia decreased sharply while the world demand is increasing strongly.
In addition, Vietnamese cashew nuts are high quality and they are favored by American and European consumers. The export price rose by 28-30 per cent compared to last year, it added.
Vietnam is the biggest exporter of cashews in the world. This year is the first time cashews have joined the country's list of products with an export value of more than $1 billion a year.
According to Vietnam Cashew Nut Association (VCNA), country's cashew nut exports achieved such high results because raw cashew nut harvests in India, Brazil and Indonesia decreased sharply while the world demand is increasing strongly.
In addition, Vietnamese cashew nuts are high quality and they are favored by American and European consumers. The export price rose by 28-30 per cent compared to last year, it added.
Vietnam is the biggest exporter of cashews in the world. This year is the first time cashews have joined the country's list of products with an export value of more than $1 billion a year.