News

Vietnamese cashew nuts face competitive pressure from Africa

Published Apr 4, 2024

Tridge summary

Since 2006, Vietnam has been the leading exporter of cashew kernels globally, holding nearly 80% of the market share due to its advanced processing technology, which significantly reduces labor needs and processing time while minimizing breakage. This technological edge, developed over decades and notably through a state-level program between 2008 and 2010, has not only allowed Vietnam to surpass India in the cashew industry but also influenced the African cashew sector, with countries like Ivory Coast and Nigeria adopting Vietnamese technology. However, in 2023, the EU has seen a rise in cashew imports from African nations like Ivory Coast and Burkina Faso, driven by lower prices and supportive government and EU policies aimed at boosting Africa's cashew processing capabilities. This shift is challenging Vietnam's dominance in the industry as African countries leverage Vietnamese technology and focus on increasing domestic processing to enhance their competitiveness in the global market.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Leading the world thanks to mastering technology 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. 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 advantage of Vietnam's cashew industry is the ...
Source: Agriculture
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.