Cashew industry seeks way out of current troubles
Wednesday, August 21,2019AsemconnectVietnam - The Viet Nam Cashew Association (Vinacas) held a conference to review the industry’s performance in the first seven months and identify solutions to the problems plaguing it.
Pham Van Cong, chairman of Vinacas, said the industry has been facing a lot of difficulties since last year.
This year, it exported nearly 245,000 tonnes, an increase of 10.8 per cent year-on-year, but with global prices down by an average of nearly 22 per cent, revenues were down 14 per cent at US$1.8 billion, he said.
Truong Sy Ba, CEO of Tan Long Group, a large agricultural enterprise, said domestic supply only meets 20 per cent of the industry’s raw cashew demand and the rest has to be imported.
Last month, his company bought 215,000 tonnes from three African countries, including 176,000 tonnes from Tanzania, and this is expected to ease the concern about a shortage of raw materials this year, he said.
According to Vinacas experts, raw cashew prices and demand are expected to increase in the fourth quarter of this year, especially in the US.
Vinacas sought the Ministry of Trade and Industry’s support for companies to acquire machinery, equipment, technologies and facilities to improve productivity and ensure food safety and quality.
It also urged the ministry to continue with its Cashew of Viet Nam programme to provide market information and packaging design.
It wanted the Ministry of Agriculture and Rural Development to support a programme to review and develop cashew-growing areas in neighbouring countries such as Cambodia and Laos to take advantage of their land resources to create a sustainable source of raw materials for the industry.
Source: VNS
Tuna exports fell deeply
Coffee exports to Indonesia and Algeria grew by 3 digits
ADB lowers growth forecast for Vietnam’s to 5.8% this year
Exports of cement and clinker fall
Vietnamese goods to better penetrate UK market
DAILY: Vietnamese pepper prices remained unchanged on July 20
DAILY: Vietnamese coffee prices increased by 1300 VND on July 20
Reference exchange rate up 27 on July 20
Corn import markets in first 6 months of 2023
Fertilizer imports decreased by 30.4% in 6 months of 2023
Demand recovery expected to drive GDP growth: Experts
Aquatic product exports expected to recover from late Q3
Reference exchange rate down 10 VND
Seafood exports decreased by 27.3% in first 6 months of 2023
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...