Instead of competing fiercely with each other, cashew companies have now joined hands to boost exports and focus on deep processing to obtain higher added value for their products.
In the first seven months of the year, Vietnam exported 245,000 tons of cashew nuts, an increase of 11 percent over the same period last year, but the export turnover decreased by 22 percent to $1.8 billion.
Analysts said that in such conditions cashew companies need to be united and focus on deep processing.
|In order to have enough cashew nuts for export, Vietnam has to import 2/3 of materials needed, mostly from Ivory Coast, Tanzania, some countries in West Africa and from Cambodia. The way cashew companies organize production is just like production of textile and garment companies.|
Chair of the Vietnam Cashew Association (Vinacas) Pham Van Cong advised enterprises to design the terms of contracts very carefully when doing business with African companies. In case of dispute, the dispute should be put into trial in Vietnam, and hould be written in contracts between the two parties.
The Vietnam Cashew Association (Vinacas) has recently held a conference to review the industry’s performance in the first seven months of 2019 and seek solutions to the problems facing it.
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