Cashew export increases in both quantity and value
According to Mr. Dang Hoang Giang – Vice president of Vietnam Cashew Association (VINACAS), despite the Covid19 pandemics, cashew nuts have still seen positive growth in its export turnover. Specifically, there have been over 190 thousand tons of cashew nuts exported for the first 5 months with the turnover estimated at USD1.21 billion – an increase of 19.23% and 3.07% in quantity and value respectively, compared with the same period last year.
“With such good results, Vietnam is the most impressive in the global cashew market and is deemed as a leading processing and exporting center, even dominating other strong markets namely India, African nations and Brazil”, said Mr. Giang.
In the first 05 months, America, EU, and China still remain the three biggest importers of Vietnam’s cashew nuts. While the demand for cashew in restaurants and hotels has gone down, it has significantly escalated regarding the supermarket channel.
As reported by VINACAS, the total supply of raw cashew this year has amounted to 4 million tons. Due to the pandemics, certain manufacturing factories in Vietnam have temporarily closed down, and the new season is likely to start later than last year, thus, there will be no worry over the lack of raw material.
However, according to some export companies, because many importers are requesting delays in delivery, the export turnover for cashew in American and European markets have recently experienced a slow increase. Fortunately, in the next few months, the source of cashew from West Africa will not be sufficient, together with the limited reserve of cashew in Asian countries and expected lower supply for export. Therefore, in the short period, the cashew market remains highly promising, no matter how Covid-19 epidemic is causing a serious crisis over the world.
Enterprises are ready to make use of golden opportunities with EVFTA
Mr. Phung Van Sam – President of Vietnam Hanfimex JSC. said that EU was the company’s big market. The EVFTA coming into effect will facilitate all related enterprises, especially those with high-quality technology, to promote cashew exports. In the case of Hanfimex particularly, the company has well prepared required documents, and necessary capabilities to export products into the EU, including: finance, human resources, physical factories and technologies.
“Not only have Hanfimex’s current production lines been equipped with the most modern technologies from Germany and Netherlands, but the company will also launch a new processing plant in Binh Phuoc with a capacity of 120 tons/day. Hanfimex has already acquired certificates like BRC, Kosher, Haacp, and Iso. Regarding raw materials, we have established a specific area to supply clean and traceable materials.”
Similar to Hanfimex, a representative from Cao Phat Co. ltd also shared that the EU and America were their two key markets. With EVFTA, the company has been in the process of preparing itself to expand its products into the two high-value markets. “The EU market is currently confronted with many challenges due to Covid-19. Until the pandemic is fully controlled, we will focus all the resources to export our products into these countries.”
Edited by: Dandelion