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Posts Tagged ‘Cashew’

Cashew export value to reach 1b USD for first time

In Uncategorized on December 16, 2010 at 9:26 pm




Cashew export value to reach 1b USD for first time


QĐND – Thursday, December 16, 2010, 21:3 (GMT+7)

The cashew industry is expected to top the 1 billion USD mark in export value this year for the first time, helping the country maintain its position as the world’s leading cashew exporter for the fourth consecutive year, the Vietnam Cashew Association (Vinacas) says.


The industry was predicted to export 198,000 tonnes of cashews, earning 1.14 billion USD for this year, said Nguyen Thai Hoc, Vinacas chairman. Exports would jump by 11.8 percent in volume and 34 percent in value against last year.


A year-on-year increase of 32 percent in value to 1.5 billion USD was projected for next year, Hoc said.


“It might be difficult to hit this target because the industry may lack raw materials and workers for processing export products. It may also have to struggle due to low product diversification and increased processing costs.”


“However, Vinacas hopes that the business environment at home and abroad will help the industry reach next year’s target,” he added.


The association had already completed a draft development strategy for the cashew industry by 2015 and towards 2020 to submit to the Government and other relevant ministries and sectors, Hoc said.


According to the Ministry of Agriculture and Rural Development, the industry exported 179,000 tonnes of cashew in the first 11 months of this year, worth 1 billion USD, a year-on-year increase of 11 percent in volume and 31.9 percent in value.


The average export price of Vietnamese cashew jumped by 27 percent to 6,000 USD per tonne compared with the same period last year, said Hoc.


Vietnam ‘s cashew nuts are exported to 52 countries and territories, including the United States , China and the European Union.


Source: VNA


Source: QDND

Cashew industry discusses development strategy through 2020

In Vietnam Economy on March 22, 2010 at 2:44 am




Cashew industry discusses development strategy through 2020


QĐND – Sunday, March 21, 2010, 21:34 (GMT+7)

More than 400 domestic and foreign delegates discussed ways to develop Vietnam’s cashew industry through 2020 at a workshop in the southern province of Binh Phuoc on March 21.


Speakers examined the current production, processing and sales of cashew products and made recommendations to increase production efficiency and growers’ incomes, and sharpen the competitive edge of Vietnamese cashew products in the global market.


They heard growers and processors talk about their difficulties concerning varieties of cashews, capital, technology transfer, sales and the building of brand names, as well as proposals to managers. 


“We need financial and technical support from the government and scientists to maintain production and fight new types of insects which have appeared recently because of the unusual weather,” said Nguyen Van Thi, a cashew farmer in Tan Hung commune. “In addition, the government should control market prices to ensure farmers make a profit.”


Scientists put forward proposals for mechanisms and policies to help the cashew industry meet its target of earning US$1 billion from exports this year and maintaining its position as the No1 cashew exporter in the world.


To this end, Deputy Minister of Agriculture and Rural Development Diep Kinh Tan said the industry should apply modern scientific and technological advances to farming, and modernise production lines. He also proposed that the government offer incentives to farmers, because cashew trees are mostly cultivated in the highland and remote areas.


Currently, Vietnam has approximately 400,000ha of cashew, mostly grown in south-eastern, central highland and south-central coastal provinces. 


Source: VOV


Source: QDND

Cashew exports increase while challenges remain

In Uncategorized on September 30, 2008 at 6:21 pm

HA NOI — Viet Nam exported 124,000 tonnes of cashew during the first nine months of this year generating US$696 million and representing a 51.5 per cent year-on-year increase in value and 14 per cent in volume, said the Viet Nam Cashew Association (Vinacas).


Vinacas chairman Nguyen Duc Thanh estimated that the cashew industry would notch up export values of $850 million by the end of the year.


In order to reach the goal, he said, cashew enterprises are boosting imports of raw material as well as taking the initiative to seek new cashew sources in Africa.


Vinacas also petitioned the Government to provide VND50-60 billion ($3-3.6 million) to help farmers expand cashew plantations and attain world-class GAP (good agricultural practice) standards.


In 2006, Viet Nam overtook India to become the world’s leading cashew exporter, supplying 40 per cent of the total global demand.


Challenges


Local experts, however, said that the country’s cashew industry still faced challenges, including scattered and small-scale production, limited co-operation among cashew enterprises and lack of raw materials.


To fill the shortage Viet Nam has had to import unprocessed cashew since 1999, and import volumes hit 200,000 tonnes last year. It is expected to reach 250,000 tonnes this year.


Vu Thai Son, head of Vinacas’ trade promotion section, said some 30 small-and medium-sized cashew enterprises are rushing to sell cashew stocks in order to meet loan deadlines.


The current 2 per cent monthly interest rate that businesses have to pay on loans is considered high, so they would rather sell product at a low price to pay off their debts than wait for the market price to increase again, reported several cashew exporters.


The situation has become more challenging as foreign customers take advantage of cashew producers financial difficulties and try to further push down prices, Son said.


Solutions


In light of recent challenges in the cashew market, some banks have agreed to extend loan terms to the end of this year or the beginning of next year, according to Vinacas.


Vinacas has suggested that banks lower interest rates to help cashew businesses recover from hard times, and that local cashew exporters refrain from lowering their prices any further as demand for cashews is believed to surge at the end of the year.


Viet Nam now has 220 cashew processors with a total capacity of 600,000-700,000 tonnes per annum. —