More than 350 delegates from 40 countries and territories took part in the 12th Vinacas Golden Cashew Rendezvous in HCM City to discuss measures and initiatives to help the global cashew industry develop sustainably.
Cashew nuts shells were once believed to be good for nothing and regarded as waste, but the circular economy model has changed everything, turning the waste into big cash spinner.
The ownership of all 100 cashew nut containers related to a suspected scam in Italy has returned to Vietnamese businesses, according to the Vietnamese Trade Office in the European country.
The last of the 35 cashew nut containers, the original documents of which were claimed by Vietnamese exporters to be missing because of a suspected scam, have been ultimately released under an Italian court rule.
Eight among the 100 cashew nut containers related to the latest alleged scam attempt against Vietnamese exporters have found buyers in the Netherlands, according to Viet Nam''s trade representative office in Italy.
The Government has called upon five ministries to help get to the bottom of a recent problem Vietnamese cashew nut exporters have been facing in the European market.
Vietnamese exporters may have lost as many as 36 containers of cashew nuts in Italy thanks to a scam, the Viet Nam Cashew Association (Vinacas) said at a press conference late Wednesday night.
Viet Nam imported nearly 1.2 million tonnes of raw cashew nuts worth US$1.9 billion in the first four months of this year, increases of 300 per cent and 323.5 per cent year-on-year, respectively.
Despite the difficulties posed by the Covid-19 pandemic, Viet Nam’s cashew exports in the first half of the year increased by 16 per cent in volume year-on-year and 1 per cent in value to 232,000 tonnes and nearly US$1.53 billion.
Cashew nut processing plants have halted operation due to a lack of raw materials, the Vietnam Cashew Nut Association (Vinacas) has said, urging processors to stay calm in the face of price fluctuations on the world cashew market.
The turnover for the cashew sector is likely to be US$2.2 billion this
year from exporting 180,000 tonnes of cashew nuts, shipments of nut
shell oil and other processed products.