The price of cashew nuts are on the rise

In contrast to the prediction that the Vietnam Cashew Association (Vinacas) made previously, in the two provinces with the largest area under cultivation nationwide, Binh Phuoc and Dong Nai, cashew is being purchased for the business 30,000 VND/kg, an increase of about 7,000 VND/kg.

According to  Vinacas, the price can't reach  40,000 VND / kg as the information present in the population.

Vinacas, the price increase is only a short time due to drought, Vietnam crop up small businesses in the country are buying into the hope that prices will reserve hits 40,000 VND / kg.

Meanwhile the large export enterprises limited almost bought it locally but imported from Africa at $ 850-950 / t, or 18000-20000 / kg.

Before this situation, Nguyen Duc Thanh, chairman of Vinacas said, with the current export price (less than 8 USD / kg), the domestic enterprises purchasing for export will be a loss of 330 USD / ton , even if the import of crude prices above business will profit of 180 USD / ton.

He also said, may be this year Vietnam lost season but in India the productivity increased by 17%, Cote d'Ivoire normal crop, Nigeria, Brazil, Vietnam productivity should increase crop will not affect world supply and price of crude can not increase much more.

Vietnam ranks fourth in production of crude harvests per year but exports (human) ranked #1 since 2006. According to the Ministry of Agriculture and Rural Development, in 2012 Vietnam exported 223,000 tons, valued at $ 1.48 billion.

Source VNC