Illustrative image (Source: VNA) HCM City (VNA) – Manycashew nut processing plants have halted operations due to a lack of materials,the Vietnam Cashew Nut Association (Vinacas) told a meeting in Ho Chi Minh Cityon June 15 to review the sector’s performance in the first half of 2018.
In the Mekong Delta province ofLong An, only 12 out of 33 cashew nut processing factories are operating whilein Binh Phuoc, up to 80 percent of small and medium-sized enterprisestemporarily shut down.
Vinacas Vice President andSecretary General Dang Hoang Giang said imported cashew nut materials hit25,000 tonnes in May, much lower than 150,000 tonnes in the same period lastyear, adding that the sector will strive to raise total exports to over 3.7billion USD in 2018.
Meanwhile, Vinacas Vice PresidentTa Quang Huyen said the global consumption of cashew nuts rose by 3.5 – 5percent due to falling prices. In the first five months of this year, the totalcashew nut imports reached 283,000 tonnes, domestic and cross-border purchasehit 370,000 tonnes, bringing the total volume of cashew nut materials to653,000 tonnes.
Five-month cashew nut exports increasedin both volume and value, reaching 141,000 tonnes worth 1.39 billion USD, up21.4 percent and 25.3 percent, respectively.
Major importers include the US,accounting for 29 percent; the Netherlands, 17 percent; and China, 15 percent.This year, Vietnam plans to maintain a market share of around 65 percent of theglobal cashew nut export worth 5.7 billion USD.
It is the 13th consecutive year the Vietnamese cashew nut sector has retained its top worldplace in terms of cashew nut export and processing.
Vinacas forecast that theVietnamese cashew nut sector will enter a new development phase in 2019. Itpledged to continue partnering with farmers and firms to facilitate productionand trade by chain value, enhance inspection over origin of products from farmto table, towards raising the sector’s total trade to roughly 4 billion USDnext year.
In the afternoon the same day,Vinacas announced the schedule of the 10th Vietnam InternationalCashew Conference slated for October 5-7 in Ha Long city, the northern provinceof Quang Ninh. It is expected to attract about 500 domestic and foreign firmsfrom 50 countries and territories worldwide.-VNA
In the Mekong Delta province ofLong An, only 12 out of 33 cashew nut processing factories are operating whilein Binh Phuoc, up to 80 percent of small and medium-sized enterprisestemporarily shut down.
Vinacas Vice President andSecretary General Dang Hoang Giang said imported cashew nut materials hit25,000 tonnes in May, much lower than 150,000 tonnes in the same period lastyear, adding that the sector will strive to raise total exports to over 3.7billion USD in 2018.
Meanwhile, Vinacas Vice PresidentTa Quang Huyen said the global consumption of cashew nuts rose by 3.5 – 5percent due to falling prices. In the first five months of this year, the totalcashew nut imports reached 283,000 tonnes, domestic and cross-border purchasehit 370,000 tonnes, bringing the total volume of cashew nut materials to653,000 tonnes.
Five-month cashew nut exports increasedin both volume and value, reaching 141,000 tonnes worth 1.39 billion USD, up21.4 percent and 25.3 percent, respectively.
Major importers include the US,accounting for 29 percent; the Netherlands, 17 percent; and China, 15 percent.This year, Vietnam plans to maintain a market share of around 65 percent of theglobal cashew nut export worth 5.7 billion USD.
It is the 13th consecutive year the Vietnamese cashew nut sector has retained its top worldplace in terms of cashew nut export and processing.
Vinacas forecast that theVietnamese cashew nut sector will enter a new development phase in 2019. Itpledged to continue partnering with farmers and firms to facilitate productionand trade by chain value, enhance inspection over origin of products from farmto table, towards raising the sector’s total trade to roughly 4 billion USDnext year.
In the afternoon the same day,Vinacas announced the schedule of the 10th Vietnam InternationalCashew Conference slated for October 5-7 in Ha Long city, the northern provinceof Quang Ninh. It is expected to attract about 500 domestic and foreign firmsfrom 50 countries and territories worldwide.-VNA
VNA
