Vietnam Cashew nuts can 'game master' global

Thu Jan 19 2017

Aims to export 360,000 tons of people with a turnover of approximately US $ 3 billion in 2017, the Vietnam Cashew Association (Vinacas) that we can fully master the game on global market conditions.

According to statistics of the Ministry of Industry and Trade, in 2016, Vietnam exported 348,000 tons of people, turnover reached 2.84 billion dollars, up 5.6% in volume and 18.4% in value compared to the same period in 2015.

Vietnam Cashew nuts are exported to 90 markets, of which the US accounts for the highest market share of about 35%, European countries and the UK at 25% and China 18%.

Thus, since 2006, consecutively in the past 11 years, Vietnam's export processing country the greatest thing in the world, accounting for over 50% of crude processed and 42% of global exports of cashew kernels.

However, to achieve such impressive export, in 2016 the enterprises (companies) have to import raw cashew biggest production so far is 1.06 million tons, up 14% compared to the previous year, mainly from the African region. With a growth rate as today, Vinacas expected, in 2017, imports of crude is estimated at 1.1 million tonnes. Meanwhile, domestic crude production was only 400,000 tons.

Talking to reporters e-Government, Mr. Nguyen Duc Thanh, chairman of Vinacas said though import large quantities of crude, but the processing machinery is quite modern, domestic enterprises can be increased about 30% of the value of raw cashew nuts. Thus, the import is positive. But the company also disadvantaged by large supply dependency.

According to Thanh, domestic enterprises need to overcome is the weakest link is not close, sometimes up everyone to buy. While if the same DN synergies, we can fully master the game, because Vietnam is export processing greatest thing in the world, accounting for over 50% of crude.

Vinacas forecasts in 2017, this sector continues to grow due to the demand of the world consumption is not reduced. However, in terms of price, according to Mr. Ta Quang Huyen, Deputy Chairman of Vinacas, after years of continuous growth, the price of which may have peaked during late 2016. As a result, these companies need to regularly update changes in market prices to a reasonable adjustment in production trading.-.

Source: Chinhphu.vn