Vietnamplus

The Vietnam Cashew Association (Vinacas) has recommended cashew processing enterprises remain calm and try not to sell off their products to avoid potential losses.

Vietnam’s cashew nut producers will have to lower their 2020 export target of 4 billion USD as the impacts of COVID-19 make it extremely difficult to achieve, according to Pham Van Cong, Chairman of the Vietnam Cashew Association (Vinacas).

Vietnam stood out as the world’s largest cashew exporter last year but there remains many challenges ahead for the country to retain its leading position in the future.

Vietnam has recorded a surge in cashew nut exports to China despite a decline in shipments of many agricultural products to this neighbouring market.

T&T Group defeated won a bidding to purchase more than 13,600 tonnes out of over 20,000 tonnes of raw cashew nuts from Tanzania at an auction session held by the Tanzanian government on October 31.

Bilateral trade between Vietnam and Israel will continue thriving this year with its value likely to top 1 billion USD, the Vietnamese trade office in Israel said on August 28.

Vietnam raked in 221.47 million USD from exporting over 28,000 tonnes of cashew nut to China in the first half of this year, up 24.8 percent in value and 53.2 percent in volume year-on-year, according to the General Department of Customs.

Although Vietnam is a leading exporter of cashew nut, the country’s export value remains modest as many enterprises are still dependent on imported materials.

Vietnam faces a possible return to a trade deficit this year after three years of enjoying surpluses, experts said pointing to the sharp rise in imports and increasing difficulties facing exports.

Vietnam sustained its position as the world’s leading cashew processor and exporter in 2018, yet the country still suffered from certain losses, so the sector must strive to regain what it lost in 2018 and improve its export value in 2019, according to insiders.

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

The Trade Office of the Vietnamese Embassy in Indonesia is showcasing Vietnamese cashew nuts, pepper, rice, coffee and tea at the International Exhibition on Food & Beverage Products, Technology, Ingredients, Additives, Raw Materials, Services, Equipment, Supplies (SIAL InterFood) that opened in Jakarta on November 21.

The Vietnamese cashew sector is calling for an 800 million USD credit package from commercial banks to better serve its exports.

The Vietnamese cashew sector is calling for an 800 million USD credit package from commercial banks to better serve its exports, as heard at a seminar held in Ho Chi Minh City on July 6.

The 10th Vinacas Golden Cashew Rendezvous will take place in Ha Long city, the northeastern province of Quang Ninh, in October, according to the Vietnam Cashew Association (Vinacas).

Many cashew nut processing plants have halted operations due to a lack of materials, the Vietnam Cashew Nut Association (Vinacas) told a meeting in Ho Chi Minh City on June 15.

Vietnam exported over 140,000 tonnes of cashew in the first five months of this year, raking in more than 1.39 billion USD.

Cashew yield could surge up to 40 percent if comprehensive advanced technology is applied to cultivation process, experts said at a conference on the cashew sector held in the southern province of Binh Phuoc on May 5.

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.

The export turnover of 353,000 tonnes of cashew in 2017 touched 3.52 billion USD, the highest level ever recorded, according to the Ministry of Agriculture and Rural Development.