Domestic Cashew Market omitted
- Wednesday - 20/07/2011 06:05
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Now, Vietnam is one of three largest cashew export nations in the world. However, many Vietnamese people, especially Northern ones, have never seen cashew nuts, proving that manufacturers and businesses have left out domestic market.
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According to survey results of Dr. Nguyen Minh Tuan of Ho Chi Minh city University of Industry, at present, domestic cashew consumption market makes up 1% to 2% of the total yield, which shows that domestic market has been omitted by enterprises whereas demand of cashew products tends to increase significantly, especially in anniversaries and Tet .
Nguyen Thai Hoc, Chief of Vietnam Cashew Association said: “India is the country that has a big cashew process industry, but its export just accounts for 40% and domestic consumption makes up 60%. Therefore, cashew industry of India always has initiative in its market share.”
At the seminar entitled “Build the Trade Mark of Vietnamese Cashew” held in Binh Phuoc on March 2010, Dr. Nguyen Thi Tuyen Truyen of Ho Chi Minh City University of Industry said that to successfully exploit domestic market with nearly 90 millions of people, especially ones with high income in big cities, it is essential to promote marketing, expand distribution network in stores, supermarkets, trade cooperatives, and study preferences of Vietnamese consumers in order to develop proper products, bringing the best use to customers.”
Also according to Hoc, domestic consumption market of processed cashew nuts has shown enormous potential. At present, some businesses have recognized this matter and had basic steps to reach domestic market like My Le Co. ltd, which delivered to market many products from cashew nuts and Dong Nai Import-Export Processing Agriculture products and Foods Co. (Donafoods), which drew up plans for domestic consumption of products from cashew nuts that are consumed well in international market.
“To promote cashew production and enhance position of cashew trees, besides expanding export market, it is necessary to boost domestic cashew consumption with the target that by 2015 domestic cashew consumption must hold 10% to 20% the yield”, emphasized Dr. Ta Quang Minh, Deputy Head of Intelligence Property Bureau.
Reported by Dao Lan, translated by Hoai Thu