via CAAI News Media
The Vietnam Cashew Association (Vinacas) has signed an agreement to cultivate 2,000 hectares of cashew trees in Cambodian provinces Kampong Cham and Kampong Thorn, said the association's general secretary.
Dang Hoang Giang said the cultivation would signal the beginning of a program to cultivate cashew in the neighboring country in the next five years, and the final area under cashew cultivation there would increase by several times.
However, the association did not reveal the total planned cultivation areas as the expansion is still under discussion.
After the crops are harvested, cashew growing and processing companies in Dong Nai Province, including Donafoods, will set up processing plants in Kampong Thorn Province.
The firms will provide farmers in the two Cambodian provinces with support including seedlings and training on processing and cultivating techniques to meet standards required by importing countries.
The Vietnam Development Bank (VDB) will offer 20 major Vietnamese cashew companies preferential short-term loans to invest in machinery and equipment to improve the industry's processing capacity, according to Vinacas.
As Vietnam's current cashew crops are ending, enterprises are importing cashews from Africa to process and export.
Nguyen Ba Hoc, Vinacas' chairman, said cashew prices are rising on the global market, luring many brokers who came in to sell and re-buy African cashews, creating a sudden price hike. Vinacas has cautioned local importers against the practice, he added.
Hoc said Vietnam was in discussion with some African countries to exchange rice for cashews. However, the two countries are yet to decide how much rice from Vietnam will be exchanged for African cashew.
Vinacas has assigned Long An Province Cashew Association to negotiate the barter trade agreement, Hoc added.
According to the Ministry of Industry and Commerce, Vietnam exported about 30,000 tons of cashew nuts worth US$157 million already this year, down 4.3% in volume but up 12% in value compared to 2009.
Source: english.vietnamnet.vn
Publication date: 4/13/2010
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