Cashew processing businesses have in recent years invested in modern machinery and equipment for intensive processing and adding more value to their products, according to insiders.
With exports expected to remain mired in difficulties for the rest of the year, the cashew industry has lowered its export target for this year to US$3.05 billion, $50 million and $750 million below its own previous target and the...
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.
The cashew industry should focus on markets which Viet Nam had signed trade deals with to take advantage of preferential tariffs and expand exports in the context of inflation, which pushed up prices of raw materials and forced people to...
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.
The agricultural sector needs to focus on developing raw materials to reduce the dependence on imports as well as improve processing capacity, experts said.
According to the Viet Nam Cashew Association (Vinacas), the sector will focus on deep processing, improving quality and diversifying products towards realising the goal.
In the first six months of this year, cashew nut exports reached 195,700 tonnes, worth about $1.5 billion, up 12.2 per cent in volume, but down 12.1 per cent in value year on year.
Viet Nam will need to import more than 300,000 tonnes of raw cashew nuts in the remaining months of the year for processing to meet the demand of exporters, according to processing companies.
Viet Nam’s cashew nut exports are forecast to surpass the US$3 billion benchmark for the first time in 2017 thanks to increasing shipments in the first ten months of the year.