During a recent press conference, Mr. Pham Van Cong, Chairman of the Vietnam Cashew Association (VINACAS), shared that the 13th VINACAS Golden Cashew Rendezvous is scheduled to take place in Dong Hoi City, Quang Binh Province, from February 26 to 28, 2024. This conference holds the promise of redefining the global supply chain in the aftermath of disruptions caused by Covid-19 and other recent changes.
The significance of the conference
Despite the Covid-19 pandemic no longer posing a worldwide danger, its impact has been significant, resulting in a breakdown of the global cashew industry's supply chain. This has been further exacerbated by subsequent geopolitical tensions, including the Russia-Ukraine dispute and the recent Israel-Hamas conflict, which have further disrupted the cashew supply chain, preventing it from recovering to its usual state. As a result, the upcoming 13th VINACAS Golden Cashew Rendezvous will serve as a platform for all stakeholders in the global supply chain to collectively review and discuss strategies to restore the supply chain to its previous efficient state, benefiting all parties involved.
According to Mr. Pham Van Cong, this conference will shape the market for 2024 and the following years. Simultaneously, all stakeholders will together assess potential risks, given the persistent presence of uncertainties. Notably, despite the resumption of the supply chain, it is not the same as before, with notable changes observed in the context of continuously declining global cashew nut prices in recent years—from US$8,540 per ton to $5,512 per ton as of the end of November 2023. However, the price of raw cashew nuts, even with a decrease, remains higher than the processing cost. By participating in the conference, domestic cashew businesses will gain a comprehensive understanding of the crop, raw materials, and forecasts from international organizations, allowing them to devise appropriate solutions.
Recently, VINACAS held a meeting with its member businesses, providing information and advising them not to hastily sign contracts for the purchase of raw cashew nuts from other countries. The current challenges are temporary, reminiscent of previous experiences encountered by cashew processing and trading enterprises. Countries with significant raw cashew nut production in Africa, such as Ivory Coast, have registered to participate in the conference, including Cambodia. Several countries and organizations from Africa have even proactively visited Vietnam in advance to assess the potential for supplying raw cashews in the upcoming season. According to the latest data, nearly 300 domestic and international delegates have registered to join the conference.
"Talk about cashews, think about Vietnam"
This statement is commonly echoed by raw cashew exporters in African countries when interacting with cashew kernel importers, processors, roasters, and packers (wholesalers) in major markets such as the US, China, and Europe. This is because Vietnam stands out as the largest importer of raw cashew nuts and the leading exporter of cashew kernels, holding a significant share of about 70 percent of the global market. Vietnam is also a key player in the manufacturing of nearly all the equipment used in cashew nut processing, establishing itself as a nation that exports machinery and equipment sought after by other countries. Moreover, the quality of Vietnamese cashew nuts is highly regarded by global consultants, importers, and roasters for its aromatic and delicious taste, which is distinctly different from those produced in other countries.
This achievement is also a testament to the success of on-site trade promotion. Since April 2008, starting with the first International Customer Conference (later rebranded as the VINACAS Golden Cashew Rendezvous) organized by VINACAS in Ho Chi Minh City, it has set the stage for international collaboration, trade promotion, and the elevation of Vietnam's standing in the cashew nut industry. In the subsequent years, the VINACAS Golden Cashew Rendezvous has become an annual event, consistently growing in both scale and professionalism. Throughout 12 conferences (excluding those affected by Covid-19), more than 3,000 delegates from over 70 countries and territories around the globe have participated, resulting in the signing of numerous contracts valued at billions of US dollars.
This initiative is part of the national trade promotion program, jointly organized by VINACAS and the Trade Promotion Agency, with sponsorship from the Ministry of Industry and Trade. The conference is also a valuable occasion for networking and collaboration with top-tier cashew import-export businesses from Vietnam and across the globe, covering the entire spectrum of the cashew trade chain—from cultivation and processing to consulting, importing, roasting, wholesaling, and supermarket representation.
Promoting and solidifying the brand
The VINACAS Golden Cashew Rendezvous in Vietnam is one of VINACAS's most successful trade promotion initiatives, evolving into an annual and essential gathering for countries exporting raw cashews, global importers, and roasters. Through this event, it underscores Vietnam's increasingly influential position in the global cashew value chain. Not only does it enhance the visibility of Vietnam's cashew industry brand, but it also reaffirms its status. Concurrently, it brings substantial value to VINACAS by providing a platform for both domestic and international businesses to engage in trade, seek potential partners, and stimulate the growth of cashew exports and imports.
The VINACAS Golden Cashew Rendezvous plays a crucial role in promoting the image of Vietnamese cashew nuts on the global stage and establishing enduring relationships and partnerships between Vietnamese businesses and international customers. These trade promotion events significantly contribute to enhancing awareness of the Vietnamese cashew processing industry. Visitors have the opportunity to tour factories and witness equipment manufactured in Vietnam that ensures compliance with international standards, such as BRC Food, SMETA, and HACCP. This fosters increasing trust in cashew nuts processed in Vietnam. The conference also serves as a platform for attendees to indulge in the exquisite taste of locally grown cashews in Vietnam, acknowledged as some of the finest in the world.
Why Quang Binh Province?
VINACAS explains the selection of the dynamic city of Dong Hoi (Quang Binh) as the event venue by highlighting that the VINACAS Golden Cashew Rendezvous serves as an indirect platform for promoting tourism, contributing to the tourism industry's development in various places, given the international nature of the conference with hundreds of delegates coming from numerous countries—individuals who are well-traveled and knowledgeable. This reasoning has been consistently validated through past editions held in renowned tourist destinations across Vietnam, including Ho Chi Minh City, Da Nang City, Hue City (Thua Thien - Hue Province), Ha Long City (Quang Ninh Province), the Pearl Island of Phu Quoc (Kien Giang Province), Nha Trang City (Khanh Hoa Province), and Binh Phuoc Province - the capital of cashew trees in Vietnam.
This time, the choice is the city of Dong Hoi in Quang Binh Province, a region abundant in diverse and globally renowned natural resources, notably the Phong Nha - Ke Bang cave system acknowledged by UNESCO as a "World Natural Heritage." Prominent features include the Son Doong Cave, Phong Nha-Ke Bang Cave, Thien Duong Cave, and En Cave. Additionally, the area boasts the Bang Hot Spring. In terms of tourism, Quang Binh holds considerable untapped potential for exploration and development.
Yet, there is a somewhat ironic situation where the global community is eager to line up for years to register for explorations of these cave systems, considering them as must-visit destinations. In contrast, for domestic residents, it is not their top choice. This preference is due to the perception that despite the famous landmarks, the infrastructure is not yet fully developed, making travel challenging. However, this was only accurate 5-10 years ago. Nowadays, a flight from Ho Chi Minh City to Dong Hoi City takes only one hour and ten minutes, serviced by four airlines, namely Vietnam Airlines, VietJet Air, Pacific Airlines, and Bamboo Airways, with an average frequency of 3-14 flights per week.
Phong Nha Cave (wet cave) is the most iconic attraction within the extensive Phong Nha-Ke Bang cave system. Stretching over 7,729 meters, it comprises 14 caves, boasting seven remarkable features in the Phong Nha-Ke Bang cave system: the longest wet cave, the cave with the highest and widest entrance, the cave adorned with the most captivating underwater sand and rock formations, the cave featuring the most picturesque underwater lake, the cave showcasing the most magnificent stalactite formations, the longest and most enchanting underground river, and the cave with the most expansive and stunning dry chambers.
In April 2009, an expedition conducted by the British Royal Cave Association made an astonishing discovery and declared Son Doong Cave as the largest cave in the world. It surpasses the dimensions of Deer Cave in Gunung Mulu National Park in Sarawak, Malaysia, measuring over 5 km in length, 200 meters in height, and 150 meters in width.
Quang Binh also boasts a distinctive attraction –Bang Spring, a hot mineral spring. With a range of underwater activities such as stream bathing, foot soaking, and even cooking food, featuring over 200 hot water vents, it holds the title of the hottest hot spring in Vietnam, with temperatures exceeding 100 degrees Celsius (sometimes reaching up to 105 degrees Celsius). Bathing and soaking one's feet in the spring contribute significantly to health and vitality, providing relief for skin and joint conditions, aiding in detoxification, and enhancing blood circulation. It is undeniably a special destination.
