The country is expected to increase cashew export revenue to US$700 million this year, up from US$520 million in 2006, on rising world market cashew prices.
But early in the season purchasing prices for cashew in southern Binh Phuoc province, Vietnam’s largest cashew growing area, dropped to VND8,500 per kilo from VND11,000 per kilo.
Meanwhile, in Lam Dong prices were at VND9,200 per kilo, down by over VND4,000 per kilo from last year.
Vietnam Cashew Association said cashew nut purchase prices dropped with cashew export prices. At present, Vietnam cashew nuts exported to Canada brought $4,410 per ton, FOB; cashew nut grade DCB exporting to the US priced $5,556.25 per ton, FOB.
Processed cashew nut grade TPN3 and SS2 exported to China were offered at $1,450 and $1,800 per ton, respectively.
Among the importers, the US has been the biggest consumer of Vietnamese cashew nuts during the first quarter of this year, followed by Canada, Singapore, Hong Kong and Taiwan