The Southeastern province of Binh Phuoc has more than 150,000 ha of cashew, accounting for nearly 50% of the total area under the trees in the country. It also leads the country in cashew nut processing capacity. However, local raw materials supplies have met only about 30% of the province’s processing capacity while the remaining 70% is imported from Indonesia, Cambodia and Africa.

At the event

AEC-CI President N'guettia Assouman said that Ivory Coast produces about 1.2 million tons of raw cashew nuts a year. Of these, 800,000 tons are shipped abroad.

Assouman said he wishes to cooperate with businesses of Binh Phuoc in particular and Vietnamese firms in general, adding that AEC-CI commits to protecting buyers from Vietnam and it expects similar action from the Southeast Asian country.

Assouman also voiced hope for trust building, limiting risks and fraud, and exchanging information with Vietnamese partners more often in the coming time.

At the event, businesses and cashew exporters expressed the desire for both sides to standardize contracts to minimize contract disputes, improve product quality and ensure reasonable prices.

Vu Thai Son, Chairman of the provincial Cashew Association, said in the coming time, Binh Phuoc plans to support and create favorable conditions for businesses who engage in trade cooperation with cashew-growing countries to ensure stable supplies of imported raw materials, meeting the demand of businesses in the locality and minimizing risks in terms of price and quality of inputs.

Dubbed as the “cashew capital” of Vietnam, Binh Phuoc exported 171,000 tons of cashew nuts last year, down 16.75% year-on-year and imported 750,000 tons, a decrease of 27.37% year-on-year.

Source: VNA