W51 Cashew Update: Vietnam Sees Opportunities to Explore the EU Market, and Tanzania Faces Logistics Challenges

Vietnam's Agricultural Sector Take Advantage of EVFTA with Focus on Key Products

In anticipation of the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam strategically positions its thriving agricultural sector, focusing on products like cashews, coffee, pepper, rubber, and vegetables, which benefit from preferential tax rates. However, the stringent post-inspection standards of the EU market, especially concerning pesticide residues and residual chemicals, pose significant challenges. Navigating these strict criteria is crucial for Vietnamese enterprises seeking to expand their presence in the competitive European market. Vietnam remains unwavering in its commitment to leverage the EVFTA, aiming to strengthen its agricultural sector and enhance its global market position by optimizing available resources.

13th International Cashew Conference in Vietnam Set to Reshape Global Supply Chain

The 13th International Cashew Conference (ICC) is scheduled to be held in Đồng Hới City, Quảng Bình Province, Vietnam, from February 26 to 28, 2024, according to the Vietnam Cashew Association (VINACAS). The conference aims to serve as a platform to restructure the global cashew supply chain in the aftermath of disruptions caused by the COVID-19 pandemic and navigate new market fluctuations. The ICC aims to showcase Vietnamese cashew nuts globally, fostering long-term relationships and collaboration between Vietnamese enterprises and international clients.

Tanzania Faces Potential Drop in Cashew Nut Prices Amidst Internal Processing Focus and Logistical Challenges

In the 2023/24 season, there are expectations of a decline in cashew nut prices in Tanzania's auctions, attributed to logistical challenges. The shortage of vessels and containers at the Mtwara port has caused delivery delays, prompting the government to prioritize Dar Es Salaam port for Raw Cashew Nut (RCN) exports this season. This shift aligns with the government's strategy of promoting domestic processing, aiming to export the final product to enhance income and establish Tanzania as the origin of cashew nuts in the global market.