Vietnamese cashew nuts need to be further improved in quality to maintain their position in the world market.
Competition
For a long time, Ivory Coast has always been the largest exporter of raw cashew nuts in the world. Dr. Adama Coulibaly, General Director of the Cotton and Cashew Council of Ivory Coast, said that the country's output of "raw cashew" is now over 1 million tons and the export of raw cashew in 2022 is 719,900 tons. Besides raw cashew, Ivory Coast is also promoting processing of cashew kernels for export. In 2022, this country has exported 36,807 tons of cashew kernels to many markets such as the US, EU, Australia...
Compared to the export volume of Vietnam's cashew kernels (519 thousand tons in 2022), it is clear that the export volume of Ivory Coast is still quite modest, but this is also a sign that competitive pressure is increasing. increasing with Vietnam's cashew kernel in the world market when many countries that only export raw cashew nuts have begun to focus on processing and exporting cashew kernels.
For example, in the US market, statistics from the US International Trade Commission show that, in 2022, although Vietnam's cashew nut still holds an overwhelming market share (reaching 131,490 tons, accounting for 88.74% of the total number of workers). cashew kernels), but the import volume decreased by 19.5% compared to 2021. Meanwhile, the quantity of cashew kernels imported from Ivory Coast increased by 49.2% and reached nearly 7 thousand tons.
Not only under pressure from other countries' processing kernels, Vietnam's cashew kernels still face competition from other nuts, especially when global cashew production is increasing rapidly. Mr. Michael Waring, President of the International Nut and Dried Fruit Council (INC) said that the global production of cashew nuts has now exceeded 5 million tons. Among the popular nuts in the world, cashews are currently second only to almonds and walnuts in terms of production.
Mr. Vu Thai Son, Chairman and General Director of Long Son Joint Stock Company, said that with advances in science and technology in agriculture, the world's raw cashew production is increasing. At the same time, the output of many other types of nuts also increased, including nuts such as almonds, the supply exceeded demand quite a lot.
According to Mr. Ta Quang Huyen, Chairman of the Board of Directors of Hoang Son 1 Joint Stock Company, although the price of cashew nuts on the world market has decreased significantly compared to two years ago, the price of nuts such as almonds, walnuts, etc. are cheaper than cashews because the discount on these nuts is higher than the discount on cashews. Therefore, other nuts are being preferred by international roasters and retailers over cashews, and consumers are also tending to choose cheaper nuts.
Must do good quality
In that context, in order to export effectively, keep the market and position of Vietnamese cashew nuts in the world market, in addition to having to calculate the purchase of raw cashew nuts at a reasonable price (compared to the export price of cashew kernels). ) to ensure profits, Vietnamese cashew businesses must pay more attention to improving the competitiveness of Vietnamese cashew kernels, first of all on food safety.
At the 12th Vietnam International Cashew Conference, Mr. John Sessler, President of the American Food Industry Association shared, Vietnamese cashew nuts are very popular with Americans and Vietnam is the most important source of cashew nuts. for the US market. However, food safety is an issue that Vietnamese cashew kernel exporters always have to pay attention to and implement in a more standard and methodical way. Because US government agencies will increasingly control food safety and may soon require traceability.
Mr. Marc Rosenblatt, a representative of Richard Franco Agency (a company specializing in the brokerage of cashews and other nuts), noted that Vietnamese cashew businesses should not use raw cashew nuts for too long in storage for 3-4 years. Because cashew kernels from this raw cashew source often have no taste, customers complain. Vietnamese cashew businesses need to focus on doing well in terms of quality to keep the image of Vietnam's cashews as the best in the world.
Mr. Michael Waring, President of the International Nut and Dried Fruit Council
Gen Z (the generation born at a time when the world has made great strides in technology) is playing an increasingly important role in the world consumer market. In China alone, Gen Z accounts for about 16.5% of the population, contributes more than 50% of the consumption proportion and has a strong impact on online consumption channels.
Therefore, cashew nut businesses as well as the global nut and dried fruit industry need to develop a marketing strategy aimed at Gen Z such as towards natural, healthy energy sources, self-seeding and dried fruit...
Thanh Son
Source: Vietnam Agriculture Newspaper
