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Turn cashew shells into money

Cashew shells are something many people consider trash, but are becoming a new source of raw materials and can open up a market worth hundreds of millions of dollars each year. Because cashew shell oil is an important raw material in many industries. Normally, from 1 ton of dry cashew nuts, 250-300 kg of kernel and 700-750 kg of shell can be processed, from which about 154 kg of oil can be produced. Cashew oil is an ingredient used in high-quality adhesive materials, used as a film-forming agent to produce marine paint or other pressing materials, heat-resistant, resistant to industrial chemicals, and used in industry. electrical and electronic...

Currently, Dong Nai accounts for 60% of the country's cashew shell oil production industry. Therefore, this is a locality with strengths in cashew oil production. Sharing with the investor about the value of cashew shells, Mr. Do Nguyen Kien, Director of F.T.E Technology Development Company, commented that, although cashew shells are a by-product, they are the main source of revenue for the Company. Large cashew oil production companies such as F.T.E, Cat Loi, Hung Loc (Dong Nai) or Thao Nguyen (Vung Tau)... often buy cashew shells for storage and gradual production. The current price of cashew shells is about 1,450 VND/kg.

Most companies will focus on producing cashew oil, semi-finished products or more advanced Cardanol oil essence. Although it is considered a product of great value, according to a representative of F.T.E Company, the average profit for Carnadol oil is not less than 2 million VND/ton, sometimes up to 4 million VND/ton. Due to short storage conditions and large investments in Carnadol oil production systems and higher risks, most businesses only focus on producing cashew oil. “Most businesses limit their offers due to insufficient supply for orders of about 100-200 tons. On the other hand, because the investment cost of a Cardanol production machine is quite high, at 2.5 billion VND with a capacity of 50 tons/month, while the potential for the cashew oil market is still large, we are not interested in Cardanol." , Mr. Kien explained.

In addition, F.T.E also exports cashew shell residue as fuel and bottom residue oil to the Korean market. In particular, bottom residue oil is used to burn instead of FO oil. Although it has less heat, it has a freezing temperature as low as -42 degrees Celsius, so it is used a lot in countries with cold climates. It is estimated that Vietnam exports more than 600,000 tons of cashew oil each year. Leading enterprises in the industry can export about 10,000 tons of oil each month. F.T.E alone supplies the market with an average of about 25,000 tons per year, with a maximum of 48,000 tons, mainly exported to the markets of China, Korea, Indonesia and Spain. Previously, China was the main market, but now Korea is leading. Mr. Kien said that Vietnam's cashew oil is qualified for export to the US. However, due to commitments with suppliers of cashew oil production machines, most Vietnamese businesses are processing or exporting crude cashew oil to China. After that, Chinese businesses will refine into many other products with an economic value many times higher than crude oil, including the production of high-quality adhesive materials, high-quality paints, and insulating materials. , electronic product circuit boards, friction powder in the production of brake pads...

However, according to Mr. Kien, in the coming time, with the Trans-Pacific Partnership Agreement (TPP), due to import of raw materials from Vietnam, so the cost of producing cashew oil in China is definitely higher than the price in Vietnam. “I think that Vietnam has many advantages to become a raw material center for cashew oil production in the world. Cashew oil will still be the main product because the potential to exploit this type of oil is still greater than Cardanol", assessed F.T.E representative. Cashew oil last month was priced at more than 370 USD/ton and at this price, revenue brought F.T.E more than 7 million USD per year, with a profit margin of 20%. According to Mr. Kien, Vietnam is currently a country with a huge advantage in producing cashew oil, because within ASEAN alone, if the product originates in Vietnam, it will be exported at a tax rate of 0%. Brazil is a cashew producing country but is just emerging in the industry.

Although India has a much larger cashew oil output than Vietnam, it is limited in transportation costs. Therefore, the competitive advantage of Vietnam's cashew industry is very large. Currently, in Dong Nai and Binh Phuoc, there are also many establishments and small businesses interested in investing in cashew shell oil production because the equipment and production lines are 100% domestic, so the investment capital is not too high. However, Mr. Kien said that, to participate in cashew oil production, a very important factor is the ability to "control" market prices and supply. “To be able to stand firm in this industry, it is necessary to have close relationships with small suppliers. For example, F.T.E must also link up with small traders at the market." Through these connections, businesses and small traders coordinate smoothly in sales and keep market prices from being broken.