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  • Vinacas to reorganize the import of crude

    May 24th, 2016

    The last time the emerging phenomenon of cashew processing enterprises compete to raise the price to buy a lot more raw, direct impact to the branch of Vietnam. Thus, at a workshop held today in the City (23-5), had suggested Vinacas given import prices of crude, or hold a clue to avoid import competing enterprises improve prices, causing damage to the industry.

    At the seminar by Vietnam Cashew Association (Vinacas) and Joint Stock Company Thanh Nien newspaper and media organizations to discuss solutions for sustainable development of this sector in 2016, one of the issues related businesses mind is how to control branch of Vietnam is the price of crude imports, instead, firms compete with each other to buy raw cashew imports caused the price of crude rose every day as last time.

    Dang Hoang Giang, Vice President Vinacas, evaluate than other agricultural commodities, cashew nuts are getting the attention of many businesses due to more profitable than other goods. Thus, according to Vinacas, currently there are about 350 enterprises and more than 1,000 export processing enterprises, including many businesses previously operated in other areas such as export rice, coffee ... but this again jump into the field of.

    It is this phenomenon more or less caused to compete to buy raw cashew processing and export should be the case overnight, the price of crude has risen to tens of dollars / ton. This can cause trouble branch of Vietnam if the last months of cashew export prices do not increase, ie the profitability of businesses will be affected, even to a loss.

    According to Vinacas, Vietnam currently ranks No. 1 in the world in this sector when the country's largest cashew exporter in the world, as well as importer of crude. With that position, Vietnam needs to control where the purchase price and selling price. However, the situation shows paintings buy paintings sold so far Vietnam has expressed its position.

    Therefore, the business proposals early Vinacas considering plans, fixing the import price of crude, so that enterprises based on negotiations with the exporting of crude. Vietnam currently imports each year approximately 500000-700000 tons of crude to meet domestic demand, which supplies mainly from Africa.

    In addition, to ensure the common good, Vinacas also suggested that businesses should sit together and choose one or two businesses represented imported crude. This approach will help the industry as it is to buy in bulk, and more importantly, Vietnam will take the initiative in negotiating the purchase price of crude.

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    Source: The Saigon Times