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Cashew nut prices down strongly
Update: 4/22/2013
Currently, raw cashew nuts in Binh Phuoc province, Dong Nai province are bought by agents with price less than 20,000 VND / kg. So, the price down 10,000 VND / kg, compared with that at the end of March, lower than that at the beginning of the season about 3,000 VND / kg.
However, according to Vietnam Cashew Association (Vinacas), many business members of the association still buy raw cashew at factory with prices around 25,000 VND / kg, thus, it's likely that to agents' ve tried to push the price down to get more profits.
And the price 30,000 VND / kg at the end of March dued to good quality nuts, purchasers increase the price to get good nuts for export.
Export prices falling dues to Chinese market's difficulty. Currently, China is the biggest cashew market of Vietnam, counting for 20 - 25% export share of Vietnam every year.
According to the Saigon Economic Online - - by Ngoc Hung
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