Dong Nai: Cashew nut imports increased nearly 4 times

April 09, 2017

In the first quarter of 2017, enterprises in the province spent nearly US $ 31.4 million to import more than 14.1 thousand tons of raw cashew nuts for processing and export, 4 times in volume, nearly 5 times in price over the same period last year.

Cause the number of cashew nuts imported increased due to the domestic crop failure. Therefore, in order to meet export orders, enterprises have to import raw materials. Import price of raw cashew nuts is quite high, about 2220 USD / ton, approximately 50 thousand VND / kg. In the domestic market, the price of raw cashew nuts farmers sold over 50 thousand VND / kg. Many cashew processing enterprises said that they are willing to buy raw cashew nuts at prices higher than the import price of 2-3,000 VND / kg, as the quality of cashew nuts in Vietnam is much better than imported ones. The shortfall in processing is also lower.

Source:  Dong Nai Newspaper