Improving competitiveness to hold market share of Vietnam’s cashew nuts

12/12/2007 12:00 - 958 Views

Vietnam currently exports cashew nuts to more than 40 countries all over the world. At first, Vietnam’s cashew nuts were produced to export mainly to China’s market but now, they can break into markets of the US and the Western Europe.
 
Now, the cashew nuts exported to the US accounts for 42%, to China 17%, to Australia 10%, to the UK and Canada makes up approximately 5%. In addition to the development in traditional markets such as the US, the EU, China, Australia, Canada, Russia, and Taiwan, the quantity of Vietnam’s cashew nuts exported to new markets such as Germany, Thailand, and Norway also accelerates. However, up to now, the productivity and the quality of Vietnam’s cashew nuts have not been high so the export turn-over is not appropriate to the huge export quantity.

In the first seven months of 2007, Vietnam exported 77 thousand tons of cashew nuts with the total value of 317 million US Dollar, an increase of 15.4% in the quantity and 18.7% in the value in comparison with the same period of 2006.

In order to developing the ability of expanding market in integration, economists think that in next time, both companies and farmers have to improve the quality of products from cashew nuts, expand domestic and oversea markets, increase the productivity through planning new trees and replacing degenerates. Especially, enterprises processing cashew nuts have to invest in modern technology to gradually supersede the current importing cashew nuts as raw material.

24th August 2007

Source: vinanet
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