Vietnamplus

The domestic cashew industry would continue to face difficulties in processing and trading cashew nuts next year, according to the Vietnam Cashew Association (Vinacas).

Vietnam’s cashew industry would need to restructure production and processing in order to ensure enough raw materials for sustainable development, according to experts.

Price stability is needed to ensure sustained growth of the cashew nut market and benefits for stakeholders in the cashew value chain, participants said at the 10th International Conference on Cashew in northeastern Quang Ninh province at the weekend.

In the first half of this year, 600-700 small cashew processing factories have closed due to a lack of raw materials and capital for production, causing a headache for the sector to achieve the export

The shortage of capital is hampering the operation of many small cashew factories in Vietnam.

Central Highland provinces are expanding the cultivation of long-term industrial crops to promote socio-economic development and improve the living standards of ethnic minority people.

The southern province of Dong Nai earned 4.3 billion USD from export in the first quarter of 2018, up 12.3 percent over the same period last year, according to the provincial Department of Planning and Investment.

Vietnam’s cashew industry has targeted 300,000 tonnes of cashew exports at a value of 3 billion USD this year, a year-on-year reduction of 50,000 tonnes in volume and 500 million USD in value.

Although global cashew demand is predicted to continue rising, the Vietnam Cashew Association (Vinacas) and cashew processors and exporters are worrying about a high price trap which may affect their activities in 2018.

The Vietnamese cashew sector is working with Cambodia’s Ministry of Agriculture, Forestry and Fisheries and Cambodian firms to develop a 1-million-tonne cashew material region in Cambodia.

The Vietnam Cashew Association (VINACAS) is working with the Cambodian Ministry of Agriculture, Forestry and Fisheries to establish a cashew farming area in Cambodia that is able to produce 1 million tonnes of material cashew annually.

Cashew exports fetched 2.2 billion USD in the first eight months of 2017, a rise of 24.9 percent from the same period last year, according to the Ministry of Agriculture and Rural Development.

The Vietnam Cashew Association (Vinacas) has asked its members to pay greater attention to improving the quality of cashew to raise its value amidst slumped production.

About 500,000 tonnes of material cashew nuts will be imported from now to October to serve processing and meet the targeted export volume of 360,000 tonnes of cashew nuts this year.

Vietnam’s cashew processing sector aims to export 360,000 tonnes of cashews for 3.3 billion USD in 2017, a year-on-year increase of 2.8 percent in volume, according to the Vietnam Cashew Association.

The cashew sector is expected to earn a record of 2.7 billion USD from export of 300,000 tonnes of processed cashew nuts this year, according to the Vietnam Cashew Association (VINACAS).

Cashew exports in the first ten months of this year posted strong growth, reaching 291,000 tonnes in volume and 2.33 billion USD in value.