A recent suspected scam involving local businesses exporting cashew nuts to Italy has raised alarm bells for exporters amid increasing transnational trade fraud.
The Vietnam Cashew Association (Vinacas) has asked Interpol Vietnam to make an intervention to prevent VND162 billion cashew shipments from being handed over to strangers even though they show original documents.
The Vietnam Cashew Association (VINACAS), on the evening of March 8, informed that it had just received an appeal for help from some cashew nut processing and exporting enterprises.
Vietnam has maintained its position as the world’s largest producer and exporter of cashew nuts in 2020, exporting an estimated 450,000 tonnes of cashew kernels worth 3.2 billion USD, according to the Vietnam Cashew Association (Vinacas).
The cashew industry has just overcome a long crisis cycle from 2017 to early 2019 with serious impacts but the developments of the Covid-19 outbreak have caused the industry to enter a period containing many risks.
Vietnam is among the world’s top cashew nut exporters, but it still cannot control the material supply sources.
The Vietnam Cashew Association (Vinacas) has complained about a new regulation which orders all imported cashew containers from Africa to be checked at the ports to prevent the Trogoderma SP worm from being spread into the country.