Vietnamplus

Amid global demand slump, cashew remains a silver lining of the overall cloud of export, according to experts.

Amid global demand slump, cashew remains a silver lining of the overall cloud of export, heard a conference on cashew market outlook taking place in Ho Chi Minh City on July 26.

For years, Vietnam has remained the world’s largest cashew nut exporter with revenue reaching about 3 billion USD yearly.

A high-ranking delegation of the National Assembly of Côte d'Ivoire led by its President Adama Bictogo left Hanoi on June 16, successfully concluding their four-day official visit to Vietnam at the invitation of NA Chairman Vuong Dinh Hue.

“Salted roasted cashew nuts”, “Plain cashew nuts” and “White cashew nuts” have become the first to be recognised as 5-star OCOP (one commune one product) products at the national level of the southern province of Binh Phuoc – the country’s cashew “capital”.

Long Son JSC, one of Vietnam’s leading cashew nut processors and exporters, is stepping up intensive processing to boost exports of processed nuts.

Although the cashew nut processing and exporting industry was warned of many difficulties in 2023, Vietnamese exporters still have many opportunities to boost exports if both businesses and farmers turn to green production, insiders have said.

The three-day 12th Vinacas Golden Cashew Rendezvous saw its main event kick off in Ho Chi Minh City on February 27, attracting the participation of 350 delegates from more than 40 countries and territories worldwide.

The Ministry of Foreign Affairs on December 13 hosted a hybrid conference on cashew trade with Africa and measures to ensure the supply of raw cashew for Vietnam, gathering more than 70 representatives of ministries, sectors, localities, research institutes, import-export enterprises, and processing-production facilities.

Vietnam’s key agricultural and fishery products, including cashew nuts, pepper, coffee, tea, lychee, logan, dragon fruit, frozen shrimp and fish, are on display at SIAL Interfood 2022 that opened in Jakarta, Indonesia, on November 9.

Vietnam exported 4.94 billion USD worth of goods to Cambodia in the first 10 months of this year, up 25.6% year on year, higher than the figure recorded in the whole 2021, according to the General Department of Vietnam Customs.

A workshop on potential for investment cooperation in the cashew industry between Vietnam and the West African market took place in Ho Chi Minh City on November 2.

The trend of international economic integration has been opening up many trade opportunities for the Vietnamese business community. However, there are also many scams that cause local firms to suffer heavy losses.

The cashew industry should focus on markets in which Vietnam had signed trade deals to take advantage of preferential tariffs and expand exports as inflation had pushed up the prices of raw materials and forced people to tighten spending, according to the Vietnam Cashew Association.

As cashew exports in the first half of 2022 fell by 9.2% against the same period last year, the Vietnam Cashew Association (VCA) has to adjust down its annual export target to 3.2 billion USD.

Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free Trade Agreement (EVFTA) to promote cashew nut export to France, said insiders.

Vietnam exported over 206,000 tonnes of cashew nuts worth 1.19 billion USD in the first five months of 2022, down 7.81% in volume and 6.81% in value, the Vietnam Cashew Association (VINACAS) reported.

Vietnam has recorded impressive growth in exports to Hungary in recent years, statistics showed.

Ministry of Foreign Affairs spokeswoman Le Thi Thu Hang gave more details about how Vietnam reclaimed cashew nut containers that its exporters previously lost control of in Italy.

Police in the central city of Da Nang arrested a 33-year old man on June 22 for violating “regulations on the protection of endangered, precious and rare animals”.