Vietnam needs more nuts

Cambodian cashew nut traders believe the market price for cashew nuts will increase, as demand from Vietnamese markets increases along with international demand. … Vietnam’s domestic enterprise imported nearly 157,000 tonnes of raw cashew nuts in the first seven months of the year, mostly from Cambodia, the Ivory Coast, Ghana, Nigeria, Guinea Bissau and Indonesia. According to export data from the Ministry of Commerce, Cambodian raw cashew nut exports increased more than 10-fold to 4,231 tonnes in the first half of this year compared with the corresponding period in 2011, when Cambodia exported 392 tonnes. The price of cashew nuts dropped about $450 from $1,137 a tonne in 2011 to $685 a tonne this year. This year’s revenue was $2,898,806, compared with last year’s $444,669.

http://www.phnompenhpost.com/index.php/2012082458254/Business/vietnam-demands-more-cashew-nuts.html