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Vietnam Issues Stricter Agriculture Import Regulations

The Ministry of Agriculture and Rural Development has issued a circular with stricter phytosanitary requirements on imported plants, animals and other products to prevent the spread of disease, pests and invasive species. According to Circular 39, set to take effect on September 27, an analysis of disease threats will be required for the first time on a range of imports: plants and any of their parts (stem, seed,…) that can be used for cultivation, fresh fruits, grass and grass seeds, any beings or objects that could spread disease or harm local flora and fauna. Currently, Decision 34 issued in 2007 applies similar rules...

Vietnam Cashew Industry: There’s A Fly In The Ointment

Vietnam’s cashew industry has never before fallen in such a distress. The cashew growing area has decreased dramatically, enterprises lack capital to import raw materials, while foreign importers have turned their back to Vietnam’s products. Vietnam’s cashew industry is experiencing a difficult period not because of the demand decrease in the world market, but because foreign importers have become disappointed about the quality of Vietnam’s cashew nuts. John Waring, Chair of Waring Group, affirmed that being the biggest Australian cashew importer, Waring is also a big client of Vietnam. However, Waring recently has shifted to import cashew nuts from India...

Agro waste turns into million-dollar revenues

It is without question that bagasse, pineapple skins, and cashew husks are agricultural by-products, but to some innovative businesses these are also a huge source of revenue, helping them rake in millions of US dollars annually. “Cashew husks are no longer considered waste, but have become a valuable raw material,” said Tran Van Phuc, director of Phuc Dung Co Ltd, one of the dozen cashew-shell oil processors in the southern province of Binh Phuoc. “Processing oil from the cashew husks can bring in several...

Vietnam’s customs agencies to grapple with sophisticated transfer pricing fraud

Transfer pricing is the most common method companies use to evade tax, and many are becoming increasingly sophisticated at it, according to customs authorities. This has prompted customs officers to seek out experts on prices and pricing methods to plug tax losses. Figures released at recent conferences held to discuss measures against tax losses show […]

Coffee Supply Crunch Spurs Rally After Folgers Cut: Commodities

Coffee’s biggest slump in three years may be ending as weather damages crops from Colombia to Indonesia, reducing U.S. inventories to the lowest since 2000 just as Kraft Foods Inc. and J.M. Smucker Co. cut prices. Stockpiles in warehouses monitored by ICE Futures U.S. fell 16 percent since December, declining for a fourth year, exchange data show. Arabica-coffee futures, already poised for the highest annual average price on record, may rise 14 percent to $2.71 a pound by March, according to the average estimate of 13 traders and analysts surveyed by Bloomberg. Prices rallied 7.8 percent from a nine-month low...

Coffee Supply Crunch Spurring Rebound After Folgers Price Cut: Commodities

Coffee’s biggest slump in three years may be ending as weather damages crops from Colombia to Indonesia, reducing U.S. inventories to the lowest since 2000 just as Kraft Foods Inc. and J.M. Smucker Co. cut prices. Stockpiles in warehouses monitored by ICE Futures U.S. fell 16 percent since December, declining for a fourth year, exchange data show. Arabica-coffee futures, already poised for the highest annual average price on record, may rise 14 percent to $2.71 a pound by March, according to the average estimate of 13 traders and analysts surveyed by Bloomberg. Prices rallied 7.8 percent from a nine-month low...

Coffee Supply Crunch Spurs Rally

Coffee’s biggest slump in three years may be ending as weather damages crops from Colombia to Indonesia, reducing U.S. inventories to the lowest since 2000 just as Kraft Foods Inc. and J.M. Smucker Co. cut prices. Stockpiles in warehouses monitored by ICE Futures U.S. fell 16 percent since December, declining for a fourth year, exchange data show. Arabica-coffee futures, already poised for the highest annual average price on record, may rise 14 percent to $2.71 a pound by March, according to the average estimate of 13 traders and analysts surveyed by Bloomberg. Prices rallied 7.8 percent from a nine-month low...

Vietnam, US seek to cooperate in agriculture

Vietnam wishes to boost agricultural cooperation with the US , a country having great achievements in this field, said Deputy Prime Minister Hoang Trung Hai. Deputy PM Hai expressed his aspiration while receiving visiting US Secretary of Agriculture Tom Vilsack in Hanoi on Nov. 16. He also expressed his hope that the US would boost cooperation with Vietnam in adaptation and mitigation of impacts of climate change, especially when large acreages in the Red river and Mekong river deltas, the major rice-growing areas of the country, are forecast to be inundated due to rising sea level. Tom Vilsack affirmed his intention...

Exports to S.Korea sharply increase

Vietnam ’s exports to the Republic of Korea (RoK) in the first ten months of 2011 recorded an impressive year-on-year growth of over 60 percent to 3.86 billion USD. Experts attributed the sharp increase of Vietnamese exports to the RoK to commitments in the ASEAN-RoK Free Trade Agreement (AKFTA). Commodities that enjoyed high export growths included garment, footwear, woodwork, confectionery, seafood and coffee. According to the Vietnam General Department of Customs, by the end of October, Vietnam ’s garment exports to the RoK had reached 700 million USD, representing a record year-on-year increase of 140 percent. The figure is expected...

Mekong delta provinces pay no heed to branding their produce

Although the Mekong delta provinces are considered the main agricultural production base of Vietnam, there is little or no effort to protect the brand names of any of their popular produce. Value of a brand name After news that the Viet Huong Trading Company of Hong Kong had applied for patent of the brand name ‘Phu Quoc’, a geographical location in Vietnam, for products which contained ‘Phu Quoc’ fish sauce ingredients, Nguyen Thi Tinh, chairwoman of the Phu Quoc Fish Sauce Association convened a meeting to discuss how to deal with the matter. The association has also asked related ministries...