Vietnam to continue cashew import because of local poor harvest

SGGP
Vietnam is expected to import an extra of 500,000 tons of raw cashew nuts to meet material demand because weather change and diseases have caused domestic crop failure and output plunge, reported Vietnam Cashew Association yesterday.

Workers processing cashew nuts for export

Workers processing cashew nuts for export

In the first half this year, import volume and value posted a year on year increase of 37 percent and 73 percent respectively.
The country exported about 165,000 tons of cashew nut products with the turnover of US$1.6 billion, a year on year increase of 2.3 percent in volume and 27 percent in value.
The cashew industry is expected to export 320,000 tons of cashew nut products this year, down 9.1 percent over 2016, yielding a turnover of $3.3 billion.

By CONG PHIEN – Translated by Hai Mien

Other news

Most view

A filling station of Petrolimex

ATM cards can be used to buy gasoline from August 1

Vietnam National Petroleum Group (Petrolimex), National Payment Corporation of Vietnam (NAPAS) and Petrolimex Group Commercial Joint Stock Bank (PG Bank) yesterday signed a cooperation agreement on ATM card payment at Petrolimex filling stations.

Banking-finance

SBV prepares bad debt settlement plan

The central bank on Friday held an online conference to prepare for the implementation of the scheme to settle non-performing loans (NPL) and restructure credit institutions in the 2016-20 period.
 

Economy

Self - introduction

“Taste of world” buffet in Liberty Central Saigon Center

Central restaurant is located on the 3rd floor of Liberty Central Saigon City point hotel where combines the comfort of tradition with modern design for people to experience regionally-sourced cuisine and fresh local seafood, especially lunch and dinner buffet.

Stock market

VN Index drops after two-day rise

Vietnam’s benchmark VN Index retreated from a two-day increase as large-cap stocks were brought down by profit-taking pressure.