Europeans are nuts about Vietnam cashews

High quality cashews fetch stable pricesAccording to the General Department of Vietnam Customs, from January to mid-June 2019, Vietnamese businesses exported 174,700 tonnes of cashews worth more than US$1.34 billion, up 9.6 percent in volume and down 13.6 percent in value compared to the same period of 2018. The export price was US$7,689 per tonne, down 21.3 percent compared to the same period last year. In the first half of this year, while the country’s cashew export value dropped over 13 percent compared to the same time last year, his company’s cashew export value rose slightly due to the clear geographical indications of its products, their traceability and high quality. According to the Department of Industry and Trade of Binh Phuoc Province, Vietnam’s biggest cashew production and export center, the EU, especially Germany and the Netherlands, are important markets. According to the Vietnam Cashew Association (VINACAS), the EU remains the biggest importer of Vietnamese cashews after the US, meaning that the signing of the EVFTA will provide many opportunities for the Vietnamese cashew industry.