Vietnam: Cashew prices climb

Exports of cashew nuts rose consistently over the last five days, with an average increase of US$0.2 per pound (0.454kg), according to the Viet Nam Cashew Association.

Over the past few months, cashew nuts W320 price surged from $3.2 to $3.33 per pound. This climb can be partially attributed to the decreasing stockpile of cashew nuts from 2011, which has led to more large volume purchases and contracts.

There are expectations of further rises in the second quarter as importers prepared themselves for high demand over the winter holidays.

Source: vietnamnews.vnagency.com.vn

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