Only Vietnam can take the initiative in 30% of raw cashew nut materials

Published 2022년 11월 2일

Tridge summary

Vietnam, the world's largest exporter of finished cashew nuts, relies on imported raw materials for about 70% of its production. Despite the COVID-19 pandemic, the cashew industry experienced growth, with exports reaching $3.6 billion in 2021 and accounting for 80% of global cashew kernel exports. However, a decrease in exports was observed in the first nine months of 2022 due to various factors including the Russian-Ukrainian conflict and fluctuating demand. To mitigate risks, the Director of VCCI HCM suggested that Vietnamese businesses establish offices in West Africa for direct cashew purchasing. Additionally, investing in West African factories for preliminary processing and exporting to Vietnam for further processing was recommended to increase global chain value. The seminar also highlighted the need for businesses to efficiently balance the high cost of imported raw cashew nuts with the price of cashew kernels for export.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Although Vietnam is the largest exporter of finished cashew nuts in the world, Vietnam can only take the initiative in about 30% of raw materials, the remaining raw materials must be imported from abroad. Delegates and businesses attended the seminar - Photo: Dinh Dai. The above information was stated by the Director of the Vietnam Confederation of Trade and Industry in Ho Chi Minh City (VCCI HCM) Tran Ngoc Liem at the Workshop "Potential for business investment in the West African market in the agricultural products industry, especially especially the cashew industry", organized by VCCI HCM in collaboration with ARISE Company. Speaking at the opening of the seminar, Mr. Tran Ngoc Liem assessed that, from a manufacturing industry that mainly uses domestic materials, supply and consumption. In the domestic market and raw export of primary products, the cashew industry has developed into an important production, processing, and import-export industry in Vietnam's economy, citing ...
Source: Vinacas

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