Vietnam’s cashew exports in August alone reached a new record high of 60,580 tonnes worth US$333.83 million, according to figures released the Ministry of Industry and Trade.

After being No 1 in cashew nut exports in the world for the last two decades, the unexpected reversal from a  trade surplus to trade deficit has caused Vietnam’s cashew position to wobble.

Vietnam imported roughly 795,500 tonnes of raw cashew nuts worth US$1.06 billion during the first four months of the year, marking a rise of 4.8% in volume but a reduction of 7.1% in value year on year.

Vietnam Cashew Association (Vinacas) has sent an official dispatch to the Ministry of Industry and Trade to propose a tax on cashew kernels imported from Africa to protect domestic cashew processing.