News

Vietnamese cashew nuts face competitive pressure from Africa

Published Apr 22, 2024

Tridge summary

Since 2006, Vietnam has been the leading exporter of cashew kernels globally, contributing to nearly 80% of the world's exports, thanks to its advanced processing technology developed with the help of the Vietnam Cashew Association (Vinacas) and local engineers. Between 2008-2010, significant technological advancements, such as automatic cashew shelling and silk peeling machines, revolutionized the industry by reducing labor needs by 70-80%, shortening processing times, and enhancing product quality. This has not only cemented Vietnam's position in the global market but also attracted international buyers for its machinery, including Italy, India, Brazil, and African countries. Furthermore, Vietnamese technology has facilitated the entry of African cashew kernels into the global market, particularly in the EU and US, with Ivory Coast and Nigeria emerging as key suppliers. This surge is supported by competitive pricing, government initiatives in Africa, abundant raw materials, lower shipping costs, and favorable European import policies, leading to a significant increase in the import of African cashew kernels into the EU in 2023.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: nongnghiep.vn Since 2006, Vietnam's cashew industry has always ranked first in the world in exporting cashew kernels. According to the Vietnam Cashew Association (Vinacas), currently, Vietnam accounts for nearly 80% of the world's cashew kernel exports. With such a large proportion as above, according to Mr. Truong Sy Ba, Chairman of the Board of Directors of Tan Long Group Joint Stock Company, Vietnam is the largest raw cashew processing factory in the world, exporting to foreign countries. final consumer markets (USA, Europe, China, Asian niche markets). The amount of raw cashews processed by Vietnamese cashew factories accounts for 60% of global raw cashew output. A cashew processing line in a factory of Tan Long Group. Photo: nongnghiep.vn The main reason that helps Vietnam's cashew industry lead the world in processing and exporting cashew kernels is its complete mastery of cashew processing technology. Mr. Pham Van Cong, Chairman of Vinacas, affirmed that the biggest ...
Source: AgroInfo.vn
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