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VINACAS’S CONFERENCE AIMS TO RESHAPE GLOBAL CASHEW SUPPLY CHAIN

|Jan 3rd, 2024|

Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association (VINACAS), shared that the 13th VINACAS Golden Cashew Rendezvous is scheduled to take place in Dong Hoi City, Quang Binh Province, from February 26 to 28, 2024.

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During a recent press conference, Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association (VINACAS), shared that the 13th VINACAS Golden Cashew Rendezvous is scheduled to take place in Dong Hoi City, Quang Binh Province, from February 26 to 28, 2024. This conference holds the promise of redefining the global supply chain in the aftermath of disruptions caused by Covid-19 and other recent changes.


The significance of the conference

Despite the Covid-19 pandemic no longer posing a worldwide danger, its impact has been significant, resulting in a breakdown of the global cashew industry's supply chain. This has been further exacerbated by subsequent geopolitical tensions, including the Russia-Ukraine dispute and the recent Israel-Hamas conflict, which have further disrupted the cashew supply chain, preventing it from recovering to its usual state. As a result, the upcoming 13th VINACAS Golden Cashew Rendezvous will serve as a platform for all stakeholders in the global supply chain to collectively review and discuss strategies to restore the supply chain to its previous efficient state, benefiting all parties involved.

According to Mr. Pham Van Cong, this conference will shape the market for 2024 and the following years. Simultaneously, all stakeholders will together assess potential risks, given the persistent presence of uncertainties. Notably, despite the resumption of the supply chain, it is not the same as before, with notable changes observed in the context of continuously declining global cashew nut prices in recent years—from US$8,540 per ton to $5,512 per ton as of the end of November 2023. However, the price of raw cashew nuts, even with a decrease, remains higher than the processing cost. By participating in the conference, domestic cashew businesses will gain a comprehensive understanding of the crop, raw materials, and forecasts from international organizations, allowing them to devise appropriate solutions.

Recently, VINACAS held a meeting with its member businesses, providing information and advising them not to hastily sign contracts for the purchase of raw cashew nuts from other countries. The current challenges are temporary, reminiscent of previous experiences encountered by cashew processing and trading enterprises. Countries with significant raw cashew nut production in Africa, such as Ivory Coast, have registered to participate in the conference, including Cambodia. Several countries and organizations from Africa have even proactively visited Vietnam in advance to assess the potential for supplying raw cashews in the upcoming season. According to the latest data, nearly 300 domestic and international delegates have registered to join the conference.


"Talk about cashews, think about Vietnam"

This statement is commonly echoed by raw cashew exporters in African countries when interacting with cashew kernel importers, processors, roasters, and packers (wholesalers) in major markets such as the US, China, and Europe. This is because Vietnam stands out as the largest importer of raw cashew nuts and the leading exporter of cashew kernels, holding a significant share of about 70 percent of the global market. Vietnam is also a key player in the manufacturing of nearly all the equipment used in cashew nut processing, establishing itself as a nation that exports machinery and equipment sought after by other countries. Moreover, the quality of Vietnamese cashew nuts is highly regarded by global consultants, importers, and roasters for its aromatic and delicious taste, which is distinctly different from those produced in other countries.

This achievement is also a testament to the success of on-site trade promotion. Since April 2008, starting with the first International Customer Conference (later rebranded as the VINACAS Golden Cashew Rendezvous) organized by VINACAS in Ho Chi Minh City, it has set the stage for international collaboration, trade promotion, and the elevation of Vietnam's standing in the cashew nut industry. In the subsequent years, the VINACAS Golden Cashew Rendezvous has become an annual event, consistently growing in both scale and professionalism. Throughout 12 conferences (excluding those affected by Covid-19), more than 3,000 delegates from over 70 countries and territories around the globe have participated, resulting in the signing of numerous contracts valued at billions of US dollars.

This initiative is part of the national trade promotion program, jointly organized by VINACAS and the Trade Promotion Agency, with sponsorship from the Ministry of Industry and Trade. The conference is also a valuable occasion for networking and collaboration with top-tier cashew import-export businesses from Vietnam and across the globe, covering the entire spectrum of the cashew trade chain—from cultivation and processing to consulting, importing, roasting, wholesaling, and supermarket representation.

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Promoting and solidifying the brand

The VINACAS Golden Cashew Rendezvous in Vietnam is one of VINACAS's most successful trade promotion initiatives, evolving into an annual and essential gathering for countries exporting raw cashews, global importers, and roasters. Through this event, it underscores Vietnam's increasingly influential position in the global cashew value chain. Not only does it enhance the visibility of Vietnam's cashew industry brand, but it also reaffirms its status. Concurrently, it brings substantial value to VINACAS by providing a platform for both domestic and international businesses to engage in trade, seek potential partners, and stimulate the growth of cashew exports and imports.

The VINACAS Golden Cashew Rendezvous plays a crucial role in promoting the image of Vietnamese cashew nuts on the global stage and establishing enduring relationships and partnerships between Vietnamese businesses and international customers. These trade promotion events significantly contribute to enhancing awareness of the Vietnamese cashew processing industry. Visitors have the opportunity to tour factories and witness equipment manufactured in Vietnam that ensures compliance with international standards, such as BRC Food, SMETA, and HACCP. This fosters increasing trust in cashew nuts processed in Vietnam. The conference also serves as a platform for attendees to indulge in the exquisite taste of locally grown cashews in Vietnam, acknowledged as some of the finest in the world.

According to sggp.org.vn

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