International cashew nut conference opens in Quang Binh
The three-day 13th Vinacas Golden Cashew Rendezvous saw its main event kick off in the central province of Quang Binh on February 27, attracting participants from more than 40 countries and territories worldwide.
13th Vinacas Golden Cashew Rendezvous attracts participants from more than 40 countries and territories worldwide (Photo: VNA)
QuangBinh (VNA)🅺 – The three-day 13th Vinacas Golden Cashew Rendezvoussaw its main event kick off in the central province of Quang Binh on February 27, attractingparticipants from more than 40 countries and territories worldwide.
Theannual event by the Vietnam Cashew Association (Vinacas) aims to connectcashew stakeholders and provide them with an opportunity to discuss measures for strong and sustainable development of cashew businesses in each country, and the global cashew industry to developstrongly and sustainably. Speakingat the event, Vinacas President Pham Van Cong said that the global supplychains including that in the cashew industry have gradually recovered from thenegative impacts of the COVID-19 pandemic. However,conflicts in parts of the world, high inflation, tightened monetary policy ofmany countries, and reduced purchasing power badly affected Vietnam’s and the global cashew industry. In2023, not only Vietnamese cashew nuts but also those from India, Coted'Ivoire, and Brazil continued suffering from dropping prices. Moreover, theprices of raw cashew nuts also decreased while output increased sharply.
Vietnam Cashew Association President Pham Van Cong speaks at the event (Photo: VNA)
Highproduction costs and low selling prices cause many cashew processors andexporters in Vietnam and other countries to suffer losses or get no profits.Many processors have had to temporarily suspend operations or reduce output,posing a high risk of mass closures, he said. Thedropping cashew prices also have a significant impact on importers,making them less likely to sign long-term orders like before. Meanwhile,there remain concerning issues relating to food hygiene and food safety of bothcashew kernels and raw nuts. Congsaid that it’s necessary to stablise the cashew industry, and urged domestic and international stakeholders to propose measures to reshapethe global cashew supply chain and solve its problems. Alsoon February 27, Vinacas signed cooperation agreements and documents with cashew associations in many other countries. In 2023, Vietnam’s cashew exports reached the target of644,000 tonnes, equivalent to 3.6 billion USD, up 24% in volume and up 18% invalue against 2022./.
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13th Vinacas Golden Cashew Rendezvous attracts participants from more than 40 countries and territories worldwide (Photo: VNA) 
Vietnam Cashew Association President Pham Van Cong speaks at the event (Photo: VNA) 
