According to the Ministry of Agriculture and Rural Development, domestic cashew prices increased in January 2018. In Binh Phuoc, the price of W240 cashew kernels rose from VND 250,000/kg to VND 280,000/kg, while W320 kernels increased by VND 20,000/kg to VND 260,000/kg compared with the previous month.

In Dong Nai, bulk-purchased dried cashews traded at around VND 41,000-42,000/kg. Cashew prices had risen because factories increased purchases of raw materials in preparation for the upcoming Lunar New Year.

The Ministry of Agriculture and Rural Development forecast that cashew prices would continue their upward trend due to limited supply during the period between harvests.

On the export side, cashew export volume in the first month of the year was estimated at 25,000 tonnes with a value of USD 256 million, up 39.9% in volume and 56.5% in value compared with the same period of the previous year.

The average cashew export price in 2017 reached USD 9,955.1 per tonne, up 21.5% from 2016. The United States, the Netherlands and China remained Vietnam’s three largest cashew import markets, accounting for 34.7%, 15.4% and 13.3% respectively of total cashew export value.