International cashew nut conference underway in HCM City
The three-day 12th Vinacas Golden Cashew Rendezvous saw its main event kick off in Ho Chi Minh City on February 27, attracting the participation of 350 delegates from more than 40 countries and territories worldwide.
The Vietnam Cashew Association and the Cashew Nut Association of Cambodia sign a cooperation deal on material supply at the 12th Vinacas Golden Cashew Rendezvous on February 27. (Photo: VNA)
HCM City (VNA) – The three-day 12th VinacasGolden Cashew Rendezvous saw its main event kick off in Ho Chi Minh City on February27, attracting the participation of 350 delegates from more than 40 countriesand territories worldwide.
At the event run by the Vietnam Cashew Association (Vinacas),Vietnamese experts joined international businessmen and producers to analysethe market and suggest measures and initiatives toward the sustainable growth of the cashew sector.
Vu Ba Phu, Director General of the Vietnam Trade PromotionAgency, said the industry is forecast to continue facing various challenges that began back in 2022.
According to Phu, as key markets increasingly prioritisegreen products and environmental protection, there is a need to focus onbuilding a value chain governance model, improving traceability, and minimisingcarbon emissions.
Vu Ba Phu, Director General of the Vietnam Trade Promotion Agency, addresses the event. (Photo: VNA)
In the next five years, if cashew processes are not converted to greenproduction, it will be difficult for Vietnam to see its local cashew nuts enteringthe high-end market despite being home to the world's leading output, he stressed.
Chairman of International Nut & Dried Fruit Council(INC) Michael Waring said the impact of the COVID-19 epidemic has severelydisrupted the supply chain and consumption of cashew kernels. However, Asia remainsa region that consumes a lot of raw cashews for processing and export, he added.
Waring said processors need to have a stable consumer base,so they should work together to promote market expansion.
In 2022, due to COVID-19, Vietnam exported 3.07 billion USDworth of cashew nuts. Given difficulties facing the global and domesticsupply chains, Vinacas targeted the figure will reach just 3.1 billion USD this year./.
Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free Trade Agreement (EVFTA) to promote cashew nut export to France, said insiders.
The cashew industry should focus on markets in which Vietnam had signed trade deals to take advantage of preferential tariffs and expand exports as inflation had pushed up the prices of raw materials and forced people to tighten spending, according to the Vietnam Cashew Association.
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The Vietnam Cashew Association and the Cashew Nut Association of Cambodia sign a cooperation deal on material supply at the 12th Vinacas Golden Cashew Rendezvous on February 27. (Photo: VNA) 
Vu Ba Phu, Director General of the Vietnam Trade Promotion Agency, addresses the event. (Photo: VNA) 
