After the biggest cashew purchase in the history of the world cashew industry in Tanzania, on July 29, 2020, at the headquarters of the Cotton and Cashew Council of Ivory Coast, T&T Group continued to set up the new record with the largest contract to buy cashew in Ivory Coast, production of 150,000 tons - equivalent to all the goods that the Government of Ivory Coast is holding.
Ms. Pham Thi Phuong Mai, representative of T&T Group and representatives of Ivory Coast Cashew Exporters signed a contract to buy 150,000 tons of raw cashew under the witness of the Cotton and Ivory Coast Council.
The contract was signed with the GIE Exporters Union - GEPPA, within the framework of a signed cooperation agreement between T&T Group and the Ivory Coast Government.
The amount of this raw thing after being imported to Vietnam will be directly processed by T&T Group to export finished products, and distribute to other cashew exporters in the territory of Vietnam. In the context of complicated domestic prices of cashew nuts, many factories have to produce moderately because they cannot balance the prices of raw and cashew nuts, the contract to buy 150,000 tons of raw cashew from T&T Group this time is special. Very meaningful, contributing to stabilizing the market and promoting cashew export processing industry in Vietnam.
At the signing ceremony, GIE-GEPPA Exporters' Union said that they have prepared goods, warehousing and delivery method according to the schedule. At the same time, this unit is also committed to ensuring the quantity and quality of raw cashew nuts in accordance with the agreement with the T&T Group.
Mr. Adama Coulibaly - General Director of Ivory Coast Cotton and Cashew Council shared: “Cooperation with T&T Group is an opportunity for Ivory Coast cashew industry, this is a fulcrum and a timely support for exporters. Ivory Coast's exports, helping them to maintain their position in the cashew export market ”. Currently Ivory Coast, Tanzania is the main supplier of raw cashew for Vietnam market.
Currently, T&T Group is the "big brother" in the field of import and export (import and export) in Vietnam market. In 2019, the total import-export turnover of T&T Group reached over 260,000 tons, accounting for nearly 13% of the country's total import-export turnover. In the first 7 months of 2020, the total import-export turnover of T&T Group reached nearly 337,000 tons, accounting for over 40% of the country's total import-export turnover. From now to the end of the year, T&T Group is expected to continue importing 120,000 to 150,000 tons of raw cashew nuts for export processing and domestic distribution.
In recent years, Vietnam is the country with the largest import and processing of cashew in the world using up to 50% of total global cashew production, and also the largest cashew exporter in the world. gender, accounting for 70-80% of total world cashew production.
T&T Group's contract to purchase raw cashew nuts takes place in the middle of the COVID-19 pandemic affecting all countries, adversely affecting most economic sectors as a testament to the relationship. sustainable and long-term strategic cooperation between the Government of one country, the other side is a large, multidisciplinary and prestigious corporation of Vietnam, contributing to the image of "Vietnam Pride" on world in the war against COVID-19.
Chairman of the Board of Directors cum General Director of T&T Group Do Quang Hien presents a souvenir gift to the Minister of Foreign Affairs of Ivory Coast Marcel Amon Tanoh on the occasion of the Minister's visit and working at T&T Group in 2019
Previously, in 2019, T&T Group also brought Vietnam's famous brand on the international market with the largest cashew purchasing contract in the history of the world cashew industry, with a output of 176,000 tons.
Not only that, T&T Group has also committed to invest in building a cashew processing factory in Ivory Coast with a factory processing capacity of up to 50,000 tons of raw cashew nuts per year. The factory has been surveyed and selected construction sites, however, due to the Covid epidemic affecting travel, construction progress is interrupted. In the coming time, when the disease situation is better controlled, the project progress will be accelerated to complete soon.
