Cashew, Market Update 28.04.2023
The Vietnam Cashew Association (Vinacas) has requested a tax on cashew kernel imports from Africa to safeguard domestic cashew processing. Vinacas has suggested that Vietnam negotiate and sign bilateral trade agreements with African nations, import and export tax exemptions for each other's goods, including raw cashew nuts exported from Africa to Vietnam. In case no bilateral trade agreements have been reached, Vinacas has proposed imposing a 25% import tax on cashew kernels.
Currently, cashew-growing African nations are reducing raw cashew nut exports by introducing high export taxes and offering preferential policies to attract investment in cashew processing factories.