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Cashew export prices reach a 10-year peak PDF Print
Wednesday, 30 March 2016 13:55

VIETRADE – Vietnamese cashew sector has benefited from a 10-year record price high, which was mostly due to rising global prices and the greater efforts of farmers and enterprises in improving the quality of cashew products.


Vietnam Cashew Association (Vinacas)'s chairman Nguyen Duc Thanh told  Vietnam News Agency that cashew exporters were purchasing cashew nuts from local farmers at higher prices thanks to rising cashew prices in the world market and better cashew quality of Vietnam.


Tran Van Thi, a cashew grower in the Central Highlands of Dak Nong Province said a kilogramme of cashew nuts were previously sold for between VND18,000 and VND20,000, but now the prices have increased by VND10,000 per kilogramme.


With higher prices, a cashew growing household could now earn VND90 million to 100 million per hectare of cashews, and after deducting all kinds of expenses and costs, they could gain from VND70 million to VND85 million profit, Thi said.


Nguyen Thi Hue, who had two hectares of cashew plantation in the southern Binh Phuoc Province's Dong Xoai Commune said she has received numerous orders from cashew traders.


After selling all this year’s crop, Hue said she would likely to reap a profit of VND100 million.


Statistics from Vinacas showed out that Vietnam shipped 37,000 tonnes of cashews abroad over the past two months for a total revenue of US$280 million, representing annual rise of 5.3% in volume and 11% in value.


According to Vinacas, the Trans-Pacific Partnership would open up many opportunities for local cashew industry as lower tariffs would help Vietnam increase export to member countries.


However, the quality and output of raw cashew nuts should be improved in order to increase exports.


Closer links between farmers, traders and exporters to protect the rights of cashew growers and effective supports from the State would be also necessary, it noted.


Thanh said Vinacas has been working with relevant agencies to develop a model linking production, processing and consumption, gradually connecting cashew growers with exporters, and helping farmers to increase their profits./.

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