The geographical indication of Binh Phuoc cashew nuts is a form of high intellectual property protection, associated with indications of origin, provenance and product quality; allowing businesses and people to use it to gradually approach and develop markets, especially in demanding markets. This is a breakthrough for the development of the cashew industry and a “golden opportunity” to increase the value of cashew products.
“Birth certificate” has international value
After the years of national liberation, cashew trees became the pioneer tree to cover the bare land and hills and also the pioneer tree to build new economic zones. In the following years, the area of cashew trees developed strongly and increased rapidly, affirming its economic value, contributing to the overall development of the locality. Cashew trees became a strategic economic tree that Binh Phuoc province paid attention to and included in the list of key crops and economic sectors. Therefore, since 2012, the province has begun to implement the program to protect the geographical indication of Binh Phuoc cashew nuts.
After 7 years of efforts to affirm the value of Binh Phuoc cashew nuts, on May 22, 2018, the province was honored to receive the certificate of geographical indication for Binh Phuoc cashew nuts. Affirming that cashew products originating from Binh Phuoc have unique characteristics and outstanding quality such as: high productivity, beautiful appearance, high recovery rate, high nutritional value, delicious taste... Products bearing the geographical indication for Binh Phuoc cashew nuts include: Raw cashew nuts, cashew kernels and salted roasted cashew nuts. Accordingly, there are 91 communes within the cashew raw material area that have built geographical indications for Binh Phuoc cashew nuts in the province.
This is the result of the long-term efforts of the entire political system and cashew growers in the province to bring Binh Phuoc cashew nuts a valuable brand. The "birth certificate" bearing the geographical indication of Binh Phuoc cashew nuts has international legal value. This affirms that the "Binh Phuoc Cashew Nuts" brand is not only a reputation but has actually been established as an intellectual property right according to the law; opening up many great opportunities for the cashew industry; actively supporting the construction and enhancement of the cashew nut brand value as well as the sustainable development of Binh Phuoc cashew trees. In terms of quality, it helps businesses processing and exporting cashew nuts in the province increase product value, expand markets and increase competitiveness in the world market. In addition, it helps protect the interests of producers and consumers; enhance the economic value of Binh Phuoc cashew nuts and promote economic development of the whole province. Regarding production, geographical indications help enhance the rights and responsibilities of cashew businesses and cashew growers to organize production, maintain the prestige and reputation of products in the market; increase product value through deep processing, and participate deeply in the global value chain.
“Golden opportunity” for Binh Phuoc cashew industry
The period of 2018-2020, when Binh Phuoc cashew nuts were granted geographical indications, was also the time when the cashew industry developed most strongly. During this period, the whole province had nearly 40 production groups with more than 500 members, 140 small and medium enterprises, more than 1,200 micro-enterprises, nearly 1,420 cashew processing facilities out of a total of 3,000 cashew processing facilities nationwide; of which, about 15 large-scale enterprises with foreign investment participated in the cashew market in the form of supporting each other in production, aiming at closed-chain production and deep processing. In particular, the whole province had more than 7,100 cashew growing households with the highest cashew growing area of nearly 180,000 hectares in 2018. Thereby, the cashew industry helped create regular jobs for more than 50,000 workers/year. This is also the time when the cashew industry contributes greatly to the province's economic growth, accounting for 1/3 of the province's total annual export turnover. Binh Phuoc's cashew nut export market reached its peak with an output of more than 100,000 tons/year. After 1 year of having geographical indications for Binh Phuoc cashew nuts, in 2019, the export value of Binh Phuoc cashew industry reached 904 million USD, with export output increasing to 130,000 tons; imported raw cashews 652,000 tons, reaching 826 million USD. In the following years, the output and import-export value of Binh Phuoc cashew industry for domestic and international markets always held the highest position.
Through the protection of geographical indications, businesses have more favorable opportunities to bring products to supermarket systems and large retail chains nationwide such as: BigC, Co.opmart, Sachafoot, AEON, SASCO... In particular, cashew products are also exported to many large international markets such as: USA, Japan, Taiwan (China), Korea, China, EU, ASEAN... and on major domestic and international e-commerce channels. From there, it is affirmed that Binh Phuoc cashew nuts have been recognized by the international market for their quality and brand. This is the driving force to help businesses participating in geographical indications build and develop their brands more and more sustainably.
With the comprehensive development of the cashew industry from quality to specialized processing and product diversification, it has contributed to the gradual increase in import and export turnover each year compared to the national average. In 2021, exports reached 1,209 million USD with 154 participating enterprises. In 2022, Binh Phuoc is one of the provinces with large cashew import and export turnover in the Southeast region in terms of total output and number of participating enterprises with nearly 200 enterprises. In the first 6 months of 2024, Vietnam exported 350 thousand tons of cashew nuts, worth 1.92 billion USD, up 25% in volume and 17.4% in value over the same period last year. In June 2024, the average export price of Vietnam's cashew nuts is estimated at 5,973 USD/ton, up 9.2% compared to May 2024 and up 4.2% compared to June 2023. Binh Phuoc cashew products are exported to more than 100 countries, regions and territories.
Economic value associated with culture
Through many ups and downs of the market, Binh Phuoc cashew industry has to compete fiercely with other cashew markets in the region and the world. Up to now, cashew trees in the province have stabilized in size at about 140,000 hectares, accounting for more than 30% of the total perennial crop area and more than 33% of the total agricultural land area of the province; accounting for about 50% of the cashew area nationwide. The economic sector of Binh Phuoc cashew industry has built a position in the hearts of domestic and international consumers. This is an economic sector closely linked to the cultural sector, because cashew products create a unique regional cultural feature for Binh Phuoc province.
With its economic and cultural values, Binh Phuoc cashew nuts were chosen to become a national brand. The successful protection of the geographical indication of Binh Phuoc cashew nuts is a solid foundation for the development strategy of the cashew industry of the province in particular and Vietnam in general.
After 6 years of being granted geographical indication for Binh Phuoc cashew nuts, the values obtained have brought a “golden opportunity” for the Binh Phuoc cashew industry. However, the glory of geographical indications only lasts for a short time and many issues are being raised to effectively manage, exploit and sustainably develop geographical indications for Binh Phuoc cashew nuts.
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