Foreign consumers would spend more at the end of the year despite economic difficulties. Therefore, the cashew industry expected exports to increase even more strongly in the last months of the year.
Immediately after receiving the written reports from businesses, the Trade Office sent a note to the UAE Ministry of Foreign Affairs, Dubai Police, Central Bank of the UAE and a number of related banks and shipping lines.
Viet Nam Cashew Association (Vinacas) has sent an official dispatch to the Ministry of Industry and Trade to propose a tax on cashew kernels imported from Africa to protect domestic cashew processing.
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.
Last year was a challenging one for the cashew industry, with exports falling from the previous year, but 2023 might be even worse, according to the Viet Nam Cashew Association (VINACAS).
Viet Nam’s cashew exports reduced significantly in both volume and value in the first months of the year, exports for the entire year are forecast to be lower than last year.
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.
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.
The Viet Nam Cashew Association (Vinacas) recommends cashew processing enterprises to be calm and not to sell-off their products to avoid potential losses.
Pham Van Cong, Chairman of the Viet Nam Cashew Association (Vinacas), has said the cashew industry will struggle to achieve its export target of US$4 billion this year due to the novel coronavirus (COVID-19) pandemic.
Viet Nam stood out as the world’s largest cashew exporter last year but there remains many challenges ahead for the country to retain its leading position in the future.