The Ministry of Foreign Affairs on December 13 hosted a hybrid conference on cashew trade with Africa and measures to ensure the supply of raw cashew for Vietnam, gathering more than 70 representatives of ministries, sectors, localities, research institutes, import-export enterprises, and processing-production facilities.
Workers process cashew nuts for export. (Photo: VNA)
Hanoi (VNA) – The Ministry of Foreign Affairson December 13 hosted a hybrid conference on cashew trade withAfrica and measures to ensure the supply of raw cashew for Vietnam, gathering morethan 70 representatives of ministries, sectors, localities, researchinstitutes, import-export enterprises, and processing-production facilities.
The event aimed to evaluate the status quo and opportunitiesof as well as challenges facing the import of raw cashew from Africa and to discuss orientations and measures to improve the activity in the time to come.
In his opening speech, Deputy Foreign Minister Pham QuangHieu stressed that cashew trade and cooperation in cashew production andprocessing are one of the important contents for collaboration with Africancountries in the future.
Participants accessed that Africa is promoting a trend of ‘self-reliance’in politics and economy, including the development of domestic cashew productionand processing. In addition, Vietnam’s import of raw cashew from Africa is alsoaffected by poor harvests, farming techniques in African countries, thefood crisis, inflation, and competition from international importers, amongothers.
They suggested a series of measures including building asustainable chain, investing in joint ventures and association with localpartners, and establishing local offices/representatives to learn about themarket.
The world's largest exporter of finishedcashew nuts, yet Vietnam must import about 70% of raw materials for processing.Major suppliers of raw cashew for Vietnam are West African countries,Cambodia and Indonesia./.
Vietnam exported over 206,000 tonnes of cashew nuts worth 1.19 billion USD in the first five months of 2022, down 7.81% in volume and 6.81% in value, the Vietnam Cashew Association (VINACAS) reported.
Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free Trade Agreement (EVFTA) to promote cashew nut export to France, said insiders.
As cashew exports in the first half of 2022 fell by 9.2% against the same period last year, the Vietnam Cashew Association (VCA) has to adjust down its annual export target to 3.2 billion USD.
The cashew industry should focus on markets in which Vietnam had signed trade deals to take advantage of preferential tariffs and expand exports as inflation had pushed up the prices of raw materials and forced people to tighten spending, according to the Vietnam Cashew Association.
A workshop on potential for investment cooperation in the cashew industry between Vietnam and the West African market took place in Ho Chi Minh City on November 2.
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Workers process cashew nuts for export. (Photo: VNA) 
