Cashew exports to China surge in April, but overall figures poor

HÀ NỘI — Việt Nam’s cashew exports to China in April went up by a whopping 54 per cent to US$31.4 million, the Ministry of Industry and Trade said citing customs data.

Cashew nuts are processed at Mỹ Lệ Co Ltd in the southern province of Bình Phước. — Photo laodong

Significant increases were also seen in exports to other markets such as Germany (65.7 per cent), Thailand (17.4 per cent) and Italy (21.6 per cent).

But shipments to the US, the biggest market, fell by 30.6 per cent to $88.5 million.

Overall cashew exports were worth $271.2 million, up 8.4 per cent from March but down 12.6 per cent from 12 months earlier.

The decline in export value despite an increase in shipments was caused by a fall in prices.

The average export price was down 2.9 per cent from March and 21.2 per cent from last April to $7,601 per tonne, the lowest rate since February 2016.