Vietnamplus

The southern province of Binh Phuoc, dubbed Vietnam’s “cashew capital”, is working towards boosting the popularity of its cashew nuts among global consumers, especially in demanding markets such as the US and the EU.

A Dutch firm has decided to invest 250 million USD in a project in the southern province of Binh Phuoc to develop cashew nut material areas, conduct deep processing, and produce cashew nut shell oil for export.

The Asian Development Bank (ADB) has approved a 70 million USD in loan to improve the capacity of agribusinesses in six provinces across Cambodia to process key agricultural products.

Vietnam has maintained its position as the world’s largest producer and exporter of cashew nuts in 2020, exporting an estimated 450,000 tonnes of cashew kernels worth 3.2 billion USD, according to the Vietnam Cashew Association (Vinacas).

The “One Commune, One Product” (OCOP) and farm producetrade fair in the northern region has been held in Lao Cai province.

Vietnamese businesses could increase exports to India by 633 million USD annually, according to the Standard Chartered Trade Opportunity Report.

Vietnam’s cashew exports are likely to increase in the remaining months of the year, prompted by surging demand, cashew firms have said.

China has extended 140 million USD worth of grant aid on Cambodia’s urgent development projects, freshnewsasia.com cited a Facebook post of Cambodian Deputy Prime Minister Hor Namhong as saying.

Vietnam’s cashew exports are likely to increase in the remaining months of the year, prompted by surging demand, cashew firms have said.

Vietnam and India hold great potential in boosting trade of fruits, Shubhra, Adviser Trade from the Indian Ministry of Agriculture and Farmers’ Welfare, told a virtual workshop held by the Embassy of Vietnam in India and the Indian Importers Chambers of Commerce and Industry (IICCI) on October 7.

Trade exchange between Vietnam and Mali in 2020 will plummet due to obstacles in transporting goods to Mali and difficulties related the embargo imposed by the Economic Community of West African States (ECOWAS) against Mali, said Vietnamese Trade Counsellor in Algeria and Mali Hoang Duc Nhuan.

The Ministry of Agriculture and Rural Development (MARD) held a meeting with businesses in Hanoi on September 14 to promote the import of agricultural products from the US.

Vietnam’s rice exports to Africa rose sharply in the first six months of 2020 and are expected to continue surging in the remainder of the year and in 2021, according to Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan.

Despite the difficulties posed by the COVID-19 pandemic, Vietnam’s cashew exports in the first half of the year increased by 16 percent in volume year-on-year and 1 percent in value to 232,000 tonnes and nearly 1.53 billion USD, according to the Vietnam Cashew Association (VINACAS).

Vietnam’s multi-sector T&T Group has purchased the Ivory Coast’s entire stock of raw cashew nuts, or 150,000 tonnes, under a contract signed with the African country late last month.

The Vietnam Cashew Association (Vinacas) has decided to lower the cashew nut export target to 3.2 billion USD this year, down from the 4 billion USD set in late 2019, given the impact of COVID-19.

Cashew nut exports experienced a decline in May but still increased during the first five months of 2020, according to the General Department of Vietnam Customs.

COVID-19 has pushed many people over the edge since it first arrived in Vietnam. Seeing that many people were suffering, local authorities in the southern province of Binh Phuoc deployed a range of policies to assist them through these difficult times.

An online conference on trade promotion via the Vietnamese community in India and Nepal was held on May 20.

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