Cambodia is Việt Nam's largest source of cashew nuts
Cambodia is Việt Nam's largest source of cashew nuts
Cambodian cashew nuts account for 55.5 per cent of Việt Nam's total import turnover in the first half of this year.
Cashew nuts. Over 780,700 tonnes of cashew nuts from Cambodia were imported into Việt Nam, worth up to $1 billion. — Photo vinacas.com.vn |
Data from the General Department of Việt Nam Customs shows that Việt Nam imported nearly 1.5 million tonnes of cashew nuts in the first six months of this year, worth US$1.8 billion, an increase of 8.4 per cent in volume and 3.4 per cent in value.
Of which, over 780,700 tonnes of cashew nuts from Cambodia were imported into Việt Nam, worth up to $1 billion.
Cashew imports from the Cambodian market alone increased by 36.7 per cent in volume and 28.1 per cent in value compared to the same period last year.
Việt Nam is the world's number one cashew kernel exporter. However, the country's domestic supply of raw materials for processing is still limited so businesses have to import cashew nuts in large quantities.
In addition to Cambodia, businesses also import a large amount of cashew nuts from Africa. However, the situation of importing poor quality cashews to impersonate domestic cashew brands is increasingly common, which reflects badly on the Vietnamese cashew brand.
In terms of exports, Việt Nam exported 353,500 tonnes of nuts in the first six months of this year, worth $1.94 billion, up 26.2 per cent in volume and 18.7 per cent in value year-on-year.
Việt Nam's average cashew export price reached $5,502 per tonne in the first six months, down 6.4 per cent over the same period last year.
