Vietnam: Many businesses are caught up in the legal business of importing raw cashews from Africa

Published 2024년 10월 29일

Tridge summary

The Vietnam Cashew Association (VINACAS) recently held a consultation seminar to address challenges and find solutions for the cashew industry's trade facilitation. Vietnam, a leading exporter of cashews, faces a shortage of raw materials, as only 10-12% of its processing needs are met by domestic supply, with the rest dependent on imports. The article highlights the regulatory challenges, such as Decree 15, which prevents domestic sale of imported cashews, leading to a loss in competitiveness and potential risk to the industry. This situation, coupled with the fear of market fluctuations and financial risks, especially in periods of low raw material prices and banking skepticism towards financing, presents significant obstacles for the industry's growth and sustainability.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On October 28, the Vietnam Cashew Association (VINACAS) coordinated with units and enterprises to organize a consultation seminar "Identifying difficulties, obstacles and finding solutions to facilitate trade for the cashew industry" in Binh Duong province. According to VINACAS, for many years, Vietnam has always held the world's number 1 position in terms of cashew export volume. The cashew growing area in Vietnam is limited to 300,000 hectares, the domestic supply of raw cashews currently only ensures 10-12% of the export processing needs of Vietnamese enterprises, 88% -90% depends on imported raw cashews. Currently, Cambodia and many countries in Africa are promoting the production of raw cashews and deep processing of cashew nuts, causing the Vietnamese cashew industry to face difficulties in the shortage of raw materials for processing. Not only that, through reviewing the import and export situation of cashew enterprises, VINACAS found some shortcomings. Mr. Bach Khanh Nhut, ...
Source: Vinacas

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