Coronavirus: Local cashew industry suffers 50% price drop

The coronavirus pandemic has resulted in China significantly cutting imports of cashew nuts from Vietnam – one of the largest exporters – thereby, affecting the local industry, as players are no longer having buyers for their product, resulting in heavy price drop.

In January 2020, the international market price was around US$1,500 per tonne but it is now pegged around US$950, a 63 percent fall. Vietnam and India are the leading competitors on the ...read more