Cashew Kernel Price Today
Cashew Kernel Price Today, September 09, 2017
W240: 5.20-5.25; W320: 5.05-5.15;
W450/ SW320/ LBW: 4.9-4.95;
DW: 4.5-4.6; WS/WB: 4.35-4.6;
LP: 3.75-3.85 (SP: Limited)
(Unit: USD/ Lb FOB HCMC/ Flexi packs)
Note: The above selling prices for non-Chinese markets/ Prompt shipment.
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A girl examining cashew fruit at a one-day workshop on the cultivation of cashew nuts in Shivamogga on Tuesday.— Photo: VAIDYA
A year with a good yield and a good price comes along very rarely and to have your crop virtually wiped out in that sort of a year is absolutely heartbreaking.Jolyon Burnett, chief executive officer, Australian Macadamia Society
Demand is strong across all sectors of the industry and our biggest challenge is that we can't grow enough to satisfy that growing demand.Jolyon Burnett, chief executive officer, Australian Macadamia Society
Last year, as many as 1.2 million tonnes of cashew nuts were shipped abroad, generating nearly 2 billion USD and representing the largest figure recorded so far, according to the Vietnam Cashew Association (Vinacas).
The internationally recognised Vietnamese cashew is now sold in 50 countries, with 30 percent of total exports destined for the US and the remaining for China , the Netherlands , India , Germany , Japan , and others.
Cashew nuts have become one of the key export staples of Vietnam ’s farming sector, following rice, rubber and coffee.
Despite challenges in 2015, such as the Euro devaluation and the oil crisis, the cashew market remains relatively stable due to increasing demand, the Vinacas commented, saying this is a good opportunity for businesses to expand the market.
However, a number of issues require additional attention, such as narrowed growing areas, according to Vinacas Chairman Nguyen Duc Thanh.
He noted that the country harvests about 400,000 tonnes of raw cashew nuts per year, but the plants are capable of processing up to 1 million tonnes of cashew. Around 50 percent of raw cashew nuts are imported, mainly from Africa , to serve as material supply for processing and exports.
He recommended developing land area for growing cashews, creating high-yield products, and building a production and sales chain.
Businesses are also encouraged to forge links with foreign cashew growers, such as those in Cambodia and Laos , to form a stable material area in close proximity to Vietnam to reduce the cost of material import.
They are also urged to keep close check on imported materials to protect the Vietnamese cashew brand and reputation.
The sector targets 2.5 billion USD in export revenue in 2015.-VNA