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Update news Vietnam cashew industry
The Vietnam Cashew Association (Vinacas) fears that the current import-export policy will drive domestic processing enterprises to bankruptcy, affecting the national cashew brand, which has been built with great efforts over many years.
The Vietnam Cashew Association has complained that rising amounts of imported cashews are threatening the operation of local firms.
After obtaining high growth rates in the last 10 years, Vietnam’s cashew industry’s growth slowed in 2022. The multi-billion-dollar export item is predicted to see a low growth rate this year also.
Cambodia exported a total of 670,000 tonnes of raw cashew nuts worth US$1.07 billion last year to the international market, with 98.5% of its raw cashew nuts worth US$1 billion being shipped to Vietnam.
VietNamNet Bridge – Viet Nam’s cashew industry is expected to enjoy strong export growth in the coming years, especially shipments to the US, according to the Viet Nam Cashew Association.
VietNamNet Bridge – The Vietnam cashew industry stands to lose billions of US dollars as a result of the failure to establish a framework to assure product safety of internationally traded foodstuffs.