Vietnam’s cashew nut exports fall slightly

Vietnam shipped a total of 105,000 tonnes of cashew nuts abroad in Q1, earning US$630 million, down 6.7% in volume and 5% in value compared to those in the same period of last year, according to the General Department of Vietnam Customs.

In March alone, the sector pocketed US$241 million from exporting 40,000 tonnes of the nut, year-on-year decreases of 11% in volume and 9% in value.

The Vietnam Cashew Association attributed the declines to the reduction in import of the country’s major markets such as the Netherlands, Canada, China, Italy and Russia.

In addition, a suspected cashew nut scam involving the loss of the bills of lading of containers exported to Europe from mid-March also affected the total volume and value in the first quarter.