CASHEW MARKET NEWS 05.07.2024
Vietnam’s cashew industry is facing a significant challenge due to a raw material shortage, with 90% of materials imported and 70% of factories experiencing reduced operating capacity.
This issue threatens the industry’s target of generating $4 billion in export revenue in 2024.
To combat this, businesses are focusing on deep processing and linking with farmers to source raw materials.
Free trade agreements are also supporting agricultural exports by reducing tax for deep processing.
Companies are investing in advanced machinery and diversifying their products to meet consumer demands and increase added value sustainably.
Source : SVC Cashew News
