VN cashew industry, no 1 in world, still relies on imported raw materialsVietNamNet Bridge - The heavy reliance on import materials remains a problem for Vietnam’s cashew industry, though it remains the top cashew exporter in the world. The heavy reliance on import materials remains a problem for Vietnam’s cashew industry, though it remains the top cashew exporter in the world. The import materials are listed by customs agencies as products owing tax for 275 days. In 2015, Vietnam exported 328,819 tons of cashew nuts with export turnover of $2.4 billion. Only when enterprises prove that they import the materials to make products for export will they will be exempted from tax.Thanh from Vinacas said some cashew companies in Long An province have joined forces to negotiate with partners to buy 100,000 tons of materials a year.DNSG

Source: VietNamNet News July 13, 2016 00:56 UTC