VINACAS hopes that international organizations, cashew associations of countries, experts, and entrepreneurs will analyze, evaluate, comment, and propose solutions and initiatives to reshape the global cashew supply chain. Accordingly, the adjustment of the value chain will help the Vietnamese and world cashew industries develop stably in the coming time.
On the morning of February 27, in Quang Binh province, the Ministry of Industry and Trade and the Vietnam Cashew Association (VINACAS) jointly organized the 13th Vietnam International Cashew Conference in 2024 with the participation of more than 350 delegates from 40 countries around the world and 10 industry organizations such as the International Nut Council (INC), China Nut Association (CNA), Ivory Coast Cotton and Cashew Council (CCA), African Cashew Association (ACA), and cashew industry organizations of Cambodia, Senegal, Benin, Guinea...
The conference aims to connect large processors and raw cashew suppliers from African countries and Cambodia, along with roasting and roasting businesses, distributors, retailers, etc. from major cashew nut consuming markets in Europe, America, and China. Speaking at the conference, VINACAS Chairman Pham Van Cong emphasized that this is an opportunity for all parties to reshape the global supply chain and value chain of the cashew industry in the context of having just overcome the Covid-19 pandemic, followed by the conflict between Russia and Ukraine and the war between Israel and Hamas, which have had a huge impact on the economies and societies of the countries. Inflation, high production and business costs, and declining consumption, etc. have caused significant challenges to the global cashew supply chain, including Vietnam.
According to Mr. Cong, in 2023, the Vietnamese cashew industry set a record when exporting over 645,300 tons of cashew nuts of all kinds. But behind this record number is a great threat to the Vietnamese cashew industry and also a threat to the global cashew industry.
The rapid growth of Vietnam’s cashew processing industry has led to a situation of competition in buying and selling raw cashews, affecting the domestic cashew industry. Specifically, the price of cashew kernels has dropped sharply, while the price of raw cashews was very high at the beginning of the season, and decreased at the end of the season but still could not balance with the selling price, causing many businesses to suffer losses.
The "hot" growth in the area and output of raw cashew nuts in some African countries and Cambodia shows no signs of stopping, while the processing industry in these countries is still modest. Some countries have large output but are applying deep protection policies for raw cashew nuts. For example, regulations on minimum selling prices; regulations on export tax and many types of fees... lead to high prices of raw cashew nuts. Roasters and traders compete "fiercely", causing purchasing power to decrease and selling prices to decrease accordingly.
"If this situation continues, a series of Vietnamese and global cashew processors are at risk of bankruptcy. With a market share of nearly 80% of the world's cashew kernel exports and consumption of nearly 65% of the world's raw cashew output, the collapse of the Vietnamese cashew processing industry will lead to unpredictable consequences for the world's cashew industry, with the risk of a disruption in the supply of cashew kernels. In particular, countries that grow and export raw cashews will see a sharp decline in import demand from Vietnam," said Mr. Pham Van Cong.
Therefore, at the 13th Vietnam International Cashew Conference, VINACAS hopes that international organizations, cashew associations of countries, experts, and entrepreneurs will analyze, evaluate, comment, and propose solutions and initiatives to reshape the global cashew supply chain. Accordingly, the adjustment of the cashew value chain will help the Vietnamese and world cashew industries develop stably in the coming time.
The International Cashew Conference is always an important trade promotion event for the Vietnamese cashew industry, a “golden meeting place” for cashew businesses worldwide. The event is organized to promote the product brand “Cashew nuts of Vietnam”, promote exports, boost consumption, build and strengthen sustainable and long-term relationships between businesses, the Vietnam Cashew Industry Association and the world.
QUOC HUNG - PUBLIC SESSION
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