Accordingly, they have signed contracts to export cashew nuts to some customers in Italy through Kim Hanh Viet Company. However, there are signs of fraud, with the number of nearly 100 containers worth hundreds of millions of US dollars.

All the above shipments were carried out export procedures for the partners through two banks in Turkey and Italy. Enterprises exported goods and sent the original documents to the bank in Turkey at the request of the buyers. After receiving the above documents, the bank notified the Vietnamese bank that the buyers were not its customers. At the same time, the bank in Turkey returned the papers but neither specified the form of return nor provided the bill of lading number to the Vietnamese bank. Although the Vietnamese bank has sent several e-mails to the Turkish counterpart, it has not received any reply. Similarly, for the number of documents sent to the banks in Italy, the Italian banks notified the Vietnamese bank that they had received the papers, but they were photocopies.

According to the VINACAS, many consignments have arrived at ports, and the rest are on their way to Italian ports. However, enterprises are worried because they do not know where the original papers are. Because only with the original documents can the buyers come to the carriers to receive the goods. Meanwhile, Vietnamese exporters have not received money from selling cashew nuts.

The VINACAS proposes that the Embassy and Vietnam Trade Office in Italy pay attention and support enterprises in working with competent authorities and shipping lines in Italy, and applying urgent measures to temporarily hold consignments that are at the port and will arrive at the port, and only allow the release of goods when receiving confirmation from the Vietnamese sellers.

Source: Sai Gon Giai Phong

Surpassing US and China, Cambodian farm produce floods Vietnam

Cashew nuts, pepper, rice, bananas and mangoes from Cambodia have been flooding the Vietnamese market, turning the country into the biggest farm produce exporter to Vietnam in the last eight months.