Cashews: massive price reductions

August 5, 2020 10:21 AM, Der AUDITOR
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HANOI. According to the Vietnam Cashew Association, export prices for cashew nuts have reached a record low. As far as raw material prices are concerned, things do not look much better.

Poor quality and low demand

Imports of RCN to Vietnam have fallen sharply this season, which according to the Vietnam Cashew Association (Vinacas) is mainly due to transport delays in the West African growing countries and a general drop in demand due to the coronavirus pandemic. Moreover, the quality of the RCN is not convincing. According to Vinacas, imports of raw materials fell by 12% to about 635,000 metric tonnes in the first half of 2020, with an average import price of USD 1,287 per metric tonne. This means that import prices have reached the

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