Multi billion dollar battle

At the meeting According to general statistics from the General Department of Vietnam Customs, in the first five months of 2022, approximately 206,110 tons of cashew kernels of all kinds were exported earning over US$1.19 billion in export turnover, down 7.81 percent in volume and 6.81 percent in value. However, the average export price was about $5,792 a ton, up 1.45 percent from the same period last year. Regarding imports in the first five months, enterprises imported about 968,000 tons of raw cashew nuts from abroad with a value of nearly $1.4 billion, down 35.24 percent in volume and down 37.84 percent in value over the same period in 2021. However, prices of imports from Africa increased by 15 percent-20 percent since the beginning of the season. More importantly, importers are tending to be slow to purchase raw materials due to many reasons but the most common is the price difference between imported raw cashew nuts and export kernel prices. The price of raw cashew … [Read more...] about Cashew exports down due to rising oil prices, epidemics, Russia Ukraine conflict

The US, China, and the EU remain the three largest markets for Vietnamese cashew, accounting for 26.8 percent, 17.7 percent, and 20.5 percent of the total export value of the cashew industry of Vietnam, respectively. Cashew nut exports to the US market declined by 10.1 percent in volume and 30.5 percent in value over the same period last year. Cashew nut exports to the EU market surged by 14 percent in volume but dropped by 21.2 percent in value. Cashew nut exports to China jumped by 136.4 percent in volume and 140.2 percent in value. Meanwhile, Vietnamese cashew processing enterprises imported 480,000 tons of raw cashew in April, spending up to $772 million, a sharp increase of 375 percent in volume and 470.5 percent in value compared to that in April last year. In the first four months of this year, Vietnam imported a total of 1.19 million tons of raw cashew, with a value of up to $1.88 billion, up 300 percent in volume and 323.5 percent in value over the same period last year. … [Read more...] about Vietnamese cashew industry sees trade deficit for the first time

The president of the Korean Chamber of Commerce in Vietnam (KOCHAM) has asked the Ho Chi Minh City government to assist South Korean enterprises in alleviating their cost burden in the current difficult period. KOCHAM President Shon Young Il made the request at a dialogue session between the city government and South Korean enterprises, held on Friday by local authorities in coordination with the Consulate General of South Korea in the southern metropolis. Speaking at the event, chaired by the municipal People’s Committee chairman Phan Van Mai, the KOCHAM leader said Korean businesses are facing a lot of pressure while trying to recover from the COVID-19 pandemic and cope with impacts caused by the ongoing Russian-Ukraine military conflict and the inflation risk. Therefore, he hopes that the Ho Chi Minh City administration can support Korean businesses in reducing their cost burden in this tough period. Specifically, local authorities should assist Korean businesses in solving … [Read more...] about S. Korean firms in Ho Chi Minh City seek help to ease rising cost burden

Long An has huge potential for agricultural development, including development of produce for export. In recent years, the province has formed a number of commodity-oriented agricultural production areas. There are more than 200 agricultural product processing enterprises in the province, most of which provide preliminarily processed produce with low added value. Only a few foreign-invested enterprises are capable of intensive processing, and they mainly use imported materials. In 2022, the provincial industry promotion sector will continue to prioritize support for agricultural product processing enterprises Long An has acknowledged the need to develop produce processing and is mobilizing resources to that end. Through a key national industry promotion project, the Industry and Trade Promotion Center of Long An Province has provided practical assistance for agricultural product processors in the region. The HG Food Vietnam Joint Stock Company has invested in a new … [Read more...] about Produce processors receive major help

She said that Vietnam and Hungary have shared a 72-year partnership and traditional cooperation in all fields including education-training, law and justice, culture, sports, and people-to-people exchanges. The diplomat noted that Hungary considers Vietnam an important partner in Southeast Asia, and the two countries lifted their ties to a comprehensive partnership in September 2018. The parliaments of the two countries have also kept a good relationship with regular meetings and exchanges at all levels, while showing close and effective cooperation and mutual support at multilateral parliamentarian forums, she said. According to Ambassador Thao, the Vietnamese top legislator's visit will be a chance for senior leaders of Vietnam and Hungary to reaffirm their political commitments in continuing to promote the bilateral partnership, contributing to the economic recovery and sustainable development after COVID-19 in each country, while strengthening collaboration in global issues … [Read more...] about N.A. Chairman’s visit to deepen ties with Hungary in post-pandemic period: Ambassador

More than 90 people participating in the meal (Photo: VNA) Paris (VNA) – The committee in support of Tran To Nga who sued US firms for manufacturing the toxic AO defoliant used by US forces during the war in Vietnam on June 24 offered a charitable meal in Paris to raise fund for her lawsuit . The meal, the third of its kind after those in March and May, was participated by more than 90 people, including Vietnamese Ambassador to France Dinh Toan Thang and MP Sandrine Rousseau of the Europe Écologie les Verts (EELV) - Green Party. Nga said she was happy and felt touched when seeing a large number of overseas Vietnamese and French friends attending this event. She stated that this is a great honour and encouragement for her in this arduous and long battle. In 2014, Nga, who used to be a war correspondent in south Vietnam during wartime, sued the multinational companies, including Monsanto - Bayer, that produced or supplied herbicides for the US during the war … [Read more...] about Tran To Nga’s dioxin lawsuit receives encouragement

At Te Giac Trang (White Rhino) oil field (Photo: VNA) Hanoi (VNA) - Te Giac Trang (White Rhino) oil field has officially reached a production milestone of 100 million barrels of crude . The field is situated in Block 16-1, about 100km southeast of the southern Vung Tau City. Its commercial development was announced in September 2009. The new milestone has turned its operator – the Hoang Long - Hoan Vu Joint Operating Company ( HLJOC ) - into one of the five oil companies on the Vietnamese continental shelf making such record. The HLJOC was established by Petro Vietnam Supervision Company (PVSC), SOCO Vietnam Ltd. (SOCO), Amerada Hess Vietnam Ltd. (HESS), and OPECO Vietnam Ltd. (OPECO). By now, the company’s total revenue has reached 8.3 billion USD, contributing more than 2.8 billion USD to the state budget./. VNA … [Read more...] about Te Giac Trang oil field reaches production milestone of 100 million barrels