Vietnam firms to export $200 mln worth of cashews

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Vietnamese cashew firms signed more than US$200 million worth of export contracts during an industry conference in Nha Trang on Wednesday, thesaigontimes.vn reported.

The Tanimex Long An Company and the Dongnai Import Export Processing Agricultural Products and Food Company were among the firms which inked contracts at the international customs conference, held by the Vietnam Cashew Association (Vinacas), the news website said.  

The firms plan to deliver the nuts between the second and third quarters of 2012, it added.

Vietnam's cashew exports were quite "quiet" between last October and the first quarter of 2012, according to Vinacas.

During the first four months of the year, cashew prices fell by five percent, as compared to the same period last year, it said.

John Waring, President of the Australian Cashew Association, said that Vietnam hasn't paid enough attention to marketing and promoting the local cashew crop.

Seeing as how Vietnam currently welcomes 3 million tourists and plans to double that figure annually, local firms should display high-quality cashews in places frequented by foreign tourists, the expert said at the two-day event.

He also advised local producers to properly label their products, since Vietnamese cashews have an edge in international markets.

Many countries, he said, are now falsely presenting their products as having originated in Vietnam.

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