The Vietnam Cashew Association (Vinacas) hopes that international organizations and national entities represented at the meeting will come together to discuss the content of cooperation and build the supply chain, Pham Van Cong said in his opening remarks.
According to the president of Vinacas, the aim is for this mechanism to function smoothly and harmonize the interests of all parties, from producers, traders, processors and exporters to roasters and retailers.
From there, he emphasized, we can maintain the stable and sustainable development of the global cashew supply chain for 2024 and beyond.
The conference also allows for the updating of information, the connection of the marketing network and the discussion of solutions for the solid and sustainable development of the companies and the cashew sector of each country, as well as the global industry of this fruit, also known as cashew nut, or cashew nut, under other names.
Van Cong pointed out that Vietnam represents the center of the global supply chain for this product, importing nearly 65 percent of the world's raw cashews and accounting for nearly 80 percent of global exports.
In the middle of last year, Vinacas Vice President Bach Khanh Nhut warned that the industry would continue to face many obstacles between the last months of 2023 and the first months of 2024, since amid a global economic crisis, cashews are not considered a basic product, therefore demand could decline further.
In fact, the Vietnamese industry association has adjusted the export sales target in 2023 to 3.05 billion dollars, a decrease of 50 million compared to the plan previously set by the organization and 750 million less than the target set by the Ministry of Agriculture Rural Development.
The consumption of cashews is recommended by the World Health Organization (WHO) because their excellent composition brings a number of benefits such as: B. Lowering LDL cholesterol (bad cholesterol) and triglycerides.
The fruit is also rich in minerals such as magnesium and copper, essential for tissue regeneration and the correct functioning of the immune system, as well as tryptophan, one of the essential amino acids, precursor of the neurotransmitters serotonin and melatonin, as well as vitamin B3 or niacin.
lam/mpm