08:15 | 29/05/2015 Trade
For the first five months this year, despite the significant decline in exports of many other agricultural products, cash nut exports still grew to 14.4% in volume and 27.3% in value against the same period last year.
According to the Ministry of Agriculture and Rural Development, around 32,000 tonnes of cashew nuts were exported during May, with export earnings of US$221 million, bringing the total export volume and overall value in five months to 117,000 tonnes and US$828 million, respectively.
The average export price for the first four months was US$7,146 per tonne, a year-on-year rise of 15%. The US, China and the Netherlands remained the top three largest importers of Vietnam cashew nuts, accounting for 35.57%, 14.66% and 10.49%, respectively, of the total export revenue.
The Vietnam Cashew Nut Association (Vinacas) said since early May, the number of US customers ordering Vietnam cashew nuts have surged. Partners even signed contracts through the fourth quarter of this year.
However, the US is a demanding market with high requirements on food hygiene and safety. Therefore, if businesses violate regulations, the US Food and Drug Administration (FDA) may refuse to import future batches.
Vinacas warned that businesses must strictly control the quality of exported products in to the US, in accordance with FDA regulations.
Source VOV News