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  • Cashew nuts: focus on quality 03/02/2023

    Mar 2nd, 2023

    During the 12th edition of the International Cashew Conference held from February 26 to 28 in Ho Chi Minh City, VINACAS announced that it is focusing on reducing the quantity and improving the quality of cashew despite the increasing demand for cashew in the world. Industry experts believe that the shortage of raw materials will continue, in addition to the difficulties linked to rising logistics costs and competition from African cashew exporting countries. Opportunities in major markets According to the VINACAS report, 2022 ended a ten-year period of cashew industry export growth from 2011 to 2021. Last year, Vietnam exported only 3, 07 billion USD, falling short of the set target (3.2 billion), even though it was adjusted downwards by around 600 million compared to the initial target. However, according to Vu Ba Phu, Director of Trade Promotion Department at the Ministry of Industry and Trade, the cashew industry will have export opportunities, especially in large markets such as the United States. United, EU and countries with common free trade agreements. The EU market accounts for around 40% of global cashew demand, which is expected to grow by 5% per year in the coming years, and cashew nuts from Vietnam will benefit from the Free Trade Agreement between the EU and Vietnam (EVFTA). Vietnam International Cashew Nut Conference, held February 26-28 in Ho Chi Minh City. Photo: CTV/CVN Placed under the theme "Rendez-vous d'or", the Vietnam International Cashew Nut Conference 2023 brought together 350 representatives of companies and institutions from more than 40 countries and territories, specializing in the production, marketing , import-export and manufacture of machinery and technical solutions for the sustainable development of the cashew nut sector. Green growth requires According to Vu Ba Phu, the Cashew Association is important. It allows a good connection between production and processing companies and competent organizations in terms of information, development orientation and dissemination of development policies in this sector. However, he believes that given the rapidly changing needs and tastes of users, enterprises need to invest more in the application of information technology, digital transformation and e-commerce to expand their markets. The association must adopt a methodical strategy to build a cashew nut brand, asserting the position as the number one cashew nut in Vietnam. “ As major markets increasingly prioritize green, environmentally friendly manufactured products, the cashew industry must pioneer green business and production practices,” he said . He underlines. “ Specifically, we need to focus on developing a management model along the value chain, on traceability and on reducing carbon emissions. If we do not adopt green production in the next five years, it will be difficult for Vietnam to enter the high-end cashew market, despite its position as the world's top producer , ” he concluded. Vu Ba Phu, director of the Trade Promotion Department of the Ministry of Industry and Commerce, speaks at the conference. Photo: CTV/CVN Michael Waring, Senior Vice President of the International Seeds and Nuts Council (INC) and Standing Member of the Executive Committee of the Global Cashew Council (GCC), said cashews are becoming increasingly important. most important in the structure of the consumption of seeds and nuts at the world level. Its supply is increasing, but less than almonds and hazelnuts. Its global production in 2022 reached 5 million tons and in 2023 it is expected to exceed this figure. Pham Van Công, President of VINACAS, explained that the international cashew nut conference was first held in 2008. Since then, it has become an important trade promotion event for this Vietnamese industry, aiming to enhance the "Vietnamese Cashew" brand, promote exports and consumption, as well as consolidate long-term and sustainable relationships between enterprises...