Vietnam is forecast to face difficulties in exporting cashew productssince global supply has increased, heard a recent seminar in Ho Chi MinhCity.
"Global output is forecast to increase by 10-15 percentthis year to around three million tonnes of raw nut thanks to favourableweather conditions," Nguyen Minh Hoa, Director of BIMICO, a processorbased in Tay Ninh province, said.
In Vietnam it would increase by15-20 percent to 500,000-550,000 tonnes, he told the seminar organisedby the Vietnam Cashew Association (Vinacas) and the AgriculturalEconomic Reporters' Club.
According to the Ministry of Industryand Trade, exporters shipped 51,000 tonnes of processed cashew for 319million USD in the first quarter, a year-on-year increase of 19.1percent in volume and 21.6 percent in value.
But exports would begin to slow down until June, Hoa said.
TheUS and the EU, major markets both, have not imported much this year andso for at least two more months, they would have high demand, he said.
TaQuang Nguyen, Director of Hoang Son 1 Co, Ltd in Binh Phuoc province,said in the first quarter China had high demand for Vietnamese cashew,but this is likely to dry up this quarter due to a depreciation of theChinese yuan, higher transportation costs, and other reasons.
Thecashew harvest season has ended in the south-eastern region, and theassociation urged its members to buy out the raw nuts from farmers bythe end of this month.
As for import of raw cashew for processingfor export, Nguyen Duc Thanh, Vinacas Chairman, said firms shouldcarefully consider prices and timing to avoid risks sinceprocessed-cashew prices are lower than last year.
The associationunveiled a Vietnam cashew value programme that targets raising thevalue of exports, promoting consumption both in the domestic and foreignmarkets, and build brands for the country's cashew products.
Forthe programme, to be implemented from this year through 2020, theassociation will co-operate with the HCM City Nutrition Centre toresearch and assess the nutritional benefits of cashew, Dang HoangGiang, Vinacas Deputy Chairman, said.
It will collaborate withthe Global Cashew Council and its nutritional research programme topromote the nutritional aspects of Vietnamese cashew globally.
The20 billion VND (947,000 USD) programme will build national cashewbrands, register trademark to protect Vietnamese cashew products in keymarkets like the US, China, and EU, and develop new products suitablefor local tastes, Giang said.
Despite being the world's largestcashew exporter and having quality products, Vietnam is unable to gethigher export prices than for lower-quality products due to lack ofmarketing and brands, he said.
The programme is expected to improve the situation and enable stable development of the local industry, he added.-VNA
"Global output is forecast to increase by 10-15 percentthis year to around three million tonnes of raw nut thanks to favourableweather conditions," Nguyen Minh Hoa, Director of BIMICO, a processorbased in Tay Ninh province, said.
In Vietnam it would increase by15-20 percent to 500,000-550,000 tonnes, he told the seminar organisedby the Vietnam Cashew Association (Vinacas) and the AgriculturalEconomic Reporters' Club.
According to the Ministry of Industryand Trade, exporters shipped 51,000 tonnes of processed cashew for 319million USD in the first quarter, a year-on-year increase of 19.1percent in volume and 21.6 percent in value.
But exports would begin to slow down until June, Hoa said.
TheUS and the EU, major markets both, have not imported much this year andso for at least two more months, they would have high demand, he said.
TaQuang Nguyen, Director of Hoang Son 1 Co, Ltd in Binh Phuoc province,said in the first quarter China had high demand for Vietnamese cashew,but this is likely to dry up this quarter due to a depreciation of theChinese yuan, higher transportation costs, and other reasons.
Thecashew harvest season has ended in the south-eastern region, and theassociation urged its members to buy out the raw nuts from farmers bythe end of this month.
As for import of raw cashew for processingfor export, Nguyen Duc Thanh, Vinacas Chairman, said firms shouldcarefully consider prices and timing to avoid risks sinceprocessed-cashew prices are lower than last year.
The associationunveiled a Vietnam cashew value programme that targets raising thevalue of exports, promoting consumption both in the domestic and foreignmarkets, and build brands for the country's cashew products.
Forthe programme, to be implemented from this year through 2020, theassociation will co-operate with the HCM City Nutrition Centre toresearch and assess the nutritional benefits of cashew, Dang HoangGiang, Vinacas Deputy Chairman, said.
It will collaborate withthe Global Cashew Council and its nutritional research programme topromote the nutritional aspects of Vietnamese cashew globally.
The20 billion VND (947,000 USD) programme will build national cashewbrands, register trademark to protect Vietnamese cashew products in keymarkets like the US, China, and EU, and develop new products suitablefor local tastes, Giang said.
Despite being the world's largestcashew exporter and having quality products, Vietnam is unable to gethigher export prices than for lower-quality products due to lack ofmarketing and brands, he said.
The programme is expected to improve the situation and enable stable development of the local industry, he added.-VNA
