Prices of Raw Cashew Hit VND20M/Ton Due to Weak Supply: Vinacas
The Vietnam Cashew Association (Vinacas) said local companies have pushed up raw cashew prices to VND20 million/ton because of thin supply.
The association warned that even with prices for raw cashew at between VND18 million and VND20 million/ton, local companies will make no profit, the Information Center for Agriculture and Rural Development (Agroinfo) reported.
The Vinacas said diseases and typhoon Ketsana have affected 100,000 hectares of cashew trees in Binh Phuoc, Binh Duong, Dong Nai and Tay Ninh, which will also have bad effects on the quality of coffee.
Cashew growing countries like India, Cambodia, and Ivory Coast also reported poor crops.
Vietnam expects to earn US$750 million-US$800 million from cashew export in 2009, down from US$950 million a year earlier. (Agroinfo)
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