Cat Loi Cashew Oil Production And Export JSC

The outlook for cashew production and export from Vietnam in 2024 The outlook for cashew production and export from Vietnam in 2024 appears promising. Despite facing some challenges in export quantity and value in 2023, Vietnam's total cashew export turnover reached 3.63 billion USD, and output went up 641,000 tons, up 17% in weight and more than 23% in production compared to 2022. Vietnam has maintained its leading position in global cashew exports, accounting for up to 80% of the total global output for 17 consecutive years. However, the industry also needs help regarding raw material sources, with about 70% of raw cashew nuts needing to be imported from other countries. This makes it difficult to control the quality of raw cashews and affects the supply chain autonomy of businesses. The Vietnamese government has implemented various measures to expand production and promote cashew cultivation within the region, including farmer training, high-quality seed provision, and expanding cashew cultivation areas. Free trade agreements like EVFTA and CPTPP have also facilitated cashew exports to major markets like Europe, the USA, and China. Regarding competitors, Vietnam continues to hold the world's leading position in cashew exports but needs to continuously improve product quality and optimize production costs to maintain this competitive edge. The largest customers of Vietnamese cashews include the USA and China, accounting for 41.8% of Vietnam's total cashew export value, along with other markets like Germany, the UK, the United Arab Emirates, and Saudi Arabia. According to the Vietnam Cashew Association, raw material quality has become a significant problem for Vietnam's cashew processing industry as some large customers in the US and EU have sent written warnings about product quality to the Association. In particular, the most warning indicators are about live insects, pesticide residues, and strange impurities. “Currently, Vietnamese cashew nuts are competing with other countries, especially countries with strengths in raw cashew materials such as Ivory Coast and African countries. Furthermore, these countries are investing in strong development of processing technology. Therefore, Vietnam's cashew industry needs to focus on improving product quality and diversity to increase competitive advantage," Mr. Bach Khanh Nhut said. In summary, despite facing several challenges, the Vietnamese cashew industry is expected to continue its strong growth in 2024 thanks to high global demand, government support, and efforts to improve product quality by businesses. To maintain its leading position and exploit opportunities in key export markets, the Vietnamese cashew industry must continue investing in technology, improving production and processing capabilities, and expanding its high-quality raw material supply network.

We are pleased to announce get of the latest ISCC certification No: EU-ISCC-Cert-DE105-89056402 issued on 18.01.2024 from Controlunion. In addition to certification for CNSL (cashew nut shell liquid), we also received accreditation for nut shells (cashew) and waste/residues from the processing of vegetable or animal oil (crushed cashew nut shells).

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Loading 3kt before lunar new year holiday #cnsl #biofuels #cashewoil

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