The Vietnam Cashew Association and the Cashew Nut Association of Cambodia sign a cooperation deal on material supply at the 12th Vinacas Golden Cashew Rendezvous on February 27. (Photo: VNA) At the event run by the Vietnam Cashew Association (Vinacas), Vietnamese experts joined international businessmen and producers to analyse the market and suggest measures and initiatives toward the sustainable growth of the cashew sector.
Vu Ba Phu, Director General of the Vietnam Trade Promotion Agency, said the industry is forecast to continue facing various challenges that began back in 2022.
According to Phu, as key markets increasingly prioritise green products and environmental protection, there is a need to focus on building a value chain governance model, improving traceability, and minimising carbon emissions.
Vu Ba Phu, Director General of the Vietnam Trade Promotion Agency, addresses the event. (Photo: VNA) Chairman of International Nut & Dried Fruit Council (INC) Michael Waring said the impact of the COVID-19 epidemic has severely disrupted the supply chain and consumption of cashew kernels. However, Asia remains a region that consumes a lot of raw cashews for processing and export, he added.
Waring said processors need to have a stable consumer base, so they should work together to promote market expansion.
In 2022, due to COVID-19, Vietnam exported 3.07 billion USD worth of cashew nuts. Given difficulties facing the global and domestic supply chains, Vinacas targeted the figure will reach just 3.1 billion USD this year./.
VNA
