24 March 1998
Vietnam steps up cashew effort…
VIETNAM is starting to challenge India and Brazil in the cashew market. Increased competition has seen the price of cashew kernels fall nearly 6% in 10 months to Rs178 ($4.51)/kg.
Vietnam plans to export 30,000 tonnes this year, The Indian Cashew Export Promotion Council says Vietnam has increased land under cashew plants from less than 50,000ha (123,548 acres) to 250,000ha (617,741 acres) in the last 13 years. Its farming of raw cashews had grown from 3,000 tonnes to 140,000 tonnes during that time.
India and Brazil also face competition from Indonesia. The world market is growing by nearly 10% a year. Now the Indian processing industry is finding it increasingly difficult to get adequate supplies.
- Financial Times 24/03/98 page 35