Africa: West African cashew panics the Vietnamese marketSource : beninmondeinfos.com
BRUNO O. OTEGBEYE
Cashew nuts from West Africa is particularly popular with the Vietnamese market recently. Consequently, crazy salaries are offered by Hanoi to procure production countries such as Ghana and Benin, major producers of this fruit in West Africa. Unpublished analysts who fear still an unexpected turnaround.
Vietnamese market does not hesitate to open his wallet to afford cashew produced in West Africa. "2000 dollars per tonne of raw nuts in Ghana and Benin, this is unheard of, even in 2011. Never seen when the harvests are in full swing and where the availability of raw cashew nuts is at its highest point "N'Kalo is surprising in its bulletin of the market.
At the root of this renewed interest, the drastic fall of the Vietnamese production, according to the latest statistics, has lost 30% of its capacity. A performance-cons forcing the country first processor in the world cashew, to turn to Africa, with the key to a price explosion.
Experts however fear a reversal effect, the current production level, which can quickly escalate. In this perspective, Vietnam could regain its level of production in the medium term.
In addition, West Africa with his 1700.000 tons, and India, 700,000 tons, two other major regions of high production of cashew nuts in the world, should also see their productions blaze, causing a plunge in prices on the market.
Experts advise then to African countries in the west, main beneficiaries of the current drop in production, to take preventive measures to face a possible rise in production.
Bruno O. OTEGBEYE / beninmondeinfos.comSource : beninmondeinfos.com