Farmers struggling against the plummeting price of cashew nuts on the domestic market have welcomed news that sixty enterprises have pledged to purchase quantities of the commodity from farmers at a price VNÐ500,000 higher than that offered by the government.
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Organised under the umbrella of the Vietnam Cashew Association (VCA), the enterprises are hoping to alleviate some of the pressures bought about by the price fall of cashew nuts, which used to fetch VNÐ 7.5m/ton on the domestic market but now gross VNÐ6.5m/ton.
Prices has also fallen on the export market, where cashew nuts fetching US$4,000/ton during the end of 2000 now cost US3,850/ton.
