QUẢNG BÌNH — The 13th Vinacas Golden Cashew Rendezvous, held in Đồng Hới City, has brought together over 370 delegates from 40 countries and territories to address current challenges and explore future directions for the global cashew industry. The event, organized by the Vietnam Cashew Association (VINACAS) and the Vietnam Trade Promotion Agency, is part of a national trade promotion program aimed at fostering cashew trade and market expansion.
During the two-day conference, which began on February 27, industry leaders discussed the various difficulties faced by the global cashew sector in the past year, including geopolitical tensions, monetary policy adjustments, inflation, and a decrease in demand from key markets. Despite these challenges, Vietnam reported a significant increase in cashew exports, totaling 645,300 tonnes worth US$3.58 billion, marking increases of 24.3% in volume and 19% in value from the previous year.
The conference highlighted the issue of declining cashew prices, particularly for processed nuts, which contrasted with a modest decrease in raw cashew prices despite a sharp increase in production. This discrepancy was attributed to early season purchasing rushes by processors and regulatory measures like minimum export prices and taxes imposed by major producing countries. The situation has led to financial strain on Vietnamese processors and exporters, with some operations halting and the looming risk of widespread industry closures.
Phạm Văn Công, chairman of VINACAS, emphasized Vietnam’s pivotal role in the global cashew supply chain, noting the country’s significant import of raw cashew and dominance in processed cashew exports. He warned that closures of processing facilities could disrupt the global supply chain, resulting in product shortages and excess raw cashew, ultimately harming the entire industry and potentially leading to reduced cultivation of cashew trees worldwide.
Delegates were urged to propose solutions and initiatives to restructure the supply chain, aiming for steady and sustainable industry growth. Michael Waring, chairman of the International Nut and Dried Fruit Council, reflected on the overall growth in nut production over the past decade, despite recent logistical and macroeconomic challenges. He highlighted the resilience of cashew demand and the importance of industry collaboration to boost consumption.
Suy KokThean, vice president of the Cashew Nut Association of Cambodia, projected the global cashew market to expand significantly by 2031 but highlighted the need for the industry to navigate potential risks such as geopolitical tensions and climate change through innovation and strategic partnerships.
The conference also focused on the nutritional benefits of cashews and the need for increased communication to encourage consumption. Additionally, representatives from major cashew-supplying regions expressed a desire to strengthen cooperation with VINACAS to enhance the value chain for all parties involved. An agreement between VINACAS and the Cashew Exporters Association of Ivory Coast was signed to develop the cashew industries of both countries further.
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