Vinacas proposes development fund for cashew industry Ngoc Hung Deputy Minister of Agriculture and Rural Development Le Quoc Doanh speaks at Vinacas’s congress in HCMC last week. Vinacas has underscored the need to set up a development fund for the local cashew industry to maintain its sustainable growth and help Vietnam stay as the world’s biggest cashew nut exporter - PHOTO: NGUYEN HONG HCMC - The Vietnam Cashew Association (Vinacas) has underscored the need to set up a development fund for the local cashew industry to maintain its sustainable growth and help Vietnam consolidate its position as the world’s biggest cashew nut exporter. The fund will stabilize production and tighten cooperation between farmers and processing firms and exporters in the sector, Vinacas said at its ninth congress in HCMC last week. The fund will be financed by the Government, processors and exporters, and other sources. Vinacas proposed enterprises contribute US$1-2 to the … [Read more...] about Vinacas proposes development fund for cashew industry
Vinacas calls for effort to stop cashew price drops Ngoc Hung By Ngoc Hung - The Saigon Times Daily HCMC – Vietnam Cashew Association (Vinacas) calls for cashew exporters to quote the same prices of cashew nuts to prevent buyers from pushing down prices further. Vinacas Chairman Nguyen Duc Thanh said Vietnamese cashew nuts had better quality than the same products of Cambodia and African countries, so they should be exported at high prices. This is not the first time Vinacas has told exporters not to undercut each other that may affect the entire industry. The association did so once in late February and eventually helped shore up cashew export prices. Now, under the pressure exerted by importers, Vinacas calls for a joint effort among cashew exporters to keep export prices from falling further “Importers have been pushing down prices of Vietnamese cashew nuts in recent years, so local enterprises need to join forces to win contracts with reasonable prices rather than … [Read more...] about Vinacas calls for effort to stop cashew price drops
Ngoc Hung Local firms are encouraged not to sign low-value export deals because at the end of next month India will have to buy a large volume of cashew nuts to prepare for local consumption in the summer, Nguyen Van Chieu, vice chairman of Vinacas, told a conference on buying and importing unprocessed cashew for the 2013 crop in HCMC on Tuesday. Besides, he noted, the U.S., Europe or China will have to resort to importing Vietnamese cashew given their falling stock. The country in the first two months exported a combined 33,000 tons of cashew with a total value of US$204 million, shrinking nearly 60.1% in volume but rising 35.5% in value compared to the same period last year. Vinacas forecasts foreign importers will race to purchase cashew from Vietnam in the next few months. Le Quang Luyen, chairman of Phuc An Company based in Binh Phuoc Province, said that if local firms race to lower cashew nut export price, they will have no other choice but to revise down the … [Read more...] about Don’t undersell cashew: Vinacas
Large cashew exporters might face losses this year even though the export prices of Vietnamese processed cashew nuts rocketed over the last few months, said the Vietnam Cashew Association (Vinacas) recently. For small-scale cashew exporters, this is a successful year, commented one producer in the southern province of Binh Duong. But, gigantic processing factories, which have an annual production capacity of more than 5,000 tons, are unable to benefit from the soaring prices in the world's market since most of the factories signed export deals last year, he said. … [Read more...] about Cashew exporters won’t benefit from high prices; Vinacas
VietNamNet Bridge - Tens of cashew nut exporters incur losses, while the Vietnam Cashew Association (Vinacas) has fallen into complete mess. It's still unclear about the future of the Vietnam's cashew industry. Only 50 percent of invited members were present at the eighth conference of Vinacas held on December 21. It was a burning conference, where participants quarreled noisily, a signal showing that the members were in serious divergence. … [Read more...] about Vinacas drives cashew nut exporters to death?