In contrast to the prediction of Vietnam Cashew Association (Vinacas), in two provinces with the largest area of Vietnam, Binh Phuoc and Dong Nai, raw cashew nuts are being purchased by businesses at the price 30,000 VND / kg, increase about 7,000 VND / kg.
However according to Vinacas, it's hard for the price to reach the milestone 40,000 VND / kg as the present information in the population.
Vinacas said, the price increasing just lasts for a short time due to drought causing harvest failure, so small businesses are buying to store, hoping that price will reach 40,000 VND / kg. Meanwhile almost large export enterprises limited buying local cashew nuts but imported those from Africa at $ 850 - 950 / ton, or 18000 - 20000 VND/ kg.
In this situation, Mr Thanh Nguyen Duc, CEO of Vinacas said, with the current export price (less than 8 USD / kg), domestic enterprises purchasing for export will get a loss of 330 USD / ton, and if the y import raw cashew nuts with mentioned price above, businesses will get profit of 180 USD / ton.
He also said, maybe Vietnam lost in many seasons this year, but in India the productivity increased strongly by 17%, normally in Cote d'Ivoire, and considerably in Nigeria, Brazil, so Vietnam's losing will not affect to the world supply and the price of raw cashew nuts can not increase much anymore.