Cashew prices soar
CASHEW nut prices are heading upwards on the back of fears that Vietnam, one of the worlds leading exporters, is experiencing a poor harvest.
The industry is forecasting that the crop will fall to 70,000t from an expected 120,000t compared with 100,000t last year.
The price of cashew kernels has risen from US$2.30/lb in January to $3.20 (£4.52/kg) at the present time, but prices are likely to be less volatile when the results of Brazils harvest are known.
Brazil is the worlds second largest producer behind India.
- Financial Times 15/07/99 page 38