Market

Cashew nut exports expected to exceed US$3 billion

In order to enhance the application of scientific and technological advances in production, diversify products, improve the added value of agricultural products and develop Vietnam's agriculture towards modern, effective, sustainable trend that based on the country's economic and social development strategy during the period of 2011 - 2020, and to support businesses to exhibit their products, promote and expand business cooperation with partners, within the framework of the National Trade Promotion Programme 2017, CanTho Promotion Agency (CPA) in cooperation with Vietnam Trade Promotion Agency (Vietrade) jointly organize the “Vietnam International Agriculture Fair 2017”, which is to take place at the CanTho Promotion Agency (No. 108A, Le Loi Street, Ninh Kieu District, Can Tho City) from November 23rd to 27 th 2017 (5 days).

VOV.VN - Vietnam, other APEC economies, and international organizations have paid special attention to ensure sustainable agricultural and rural development. APEC economies are expanding markets and financial services to boost the agricultural growth and reduce poverty sustainably.

The cashew industry has achieved impressive growth in the past years with increasing exports, but unfavourable weather due to the impact of climate change and an increase of diseases and pests threaten its continued development, delegates told a seminar in HCM City last Saturday.

India raised the minimum purchase price of wheat by 6.8 percent, the biggest increase in six years, to help farmers boost their earnings and enhance output.

Corn and soybean futures finished higher as investors provided the support by selling out of some of their short positions.

Brazil’s soybean crop is 20% planted vs. 29% year ago.

Cocoa futures hit their highest in nearly seven months, before succumbing to broad ag market selling, as strong processing data from Asia, and talk of short-covering by speculators, more than offset disappointment at North American grind statistics.

This is the glass-half-full theory on the corn market.

Fresh buying demand, coupled with concerns about the impact of dry weather in Thailand and Vietnam, has kept Asian rice prices stable in the past week, traders said on Wednesday. Thailand and Vietnam, the world's second- and third-biggest rice exporters after India, have been facing a drought brought on by the El Nino weather pattern since late 2015. 

Rice export prices rose in Thailand and Vietnam this week as bad weather threatened to disrupt supply, with Thai rice propped up by a stronger baht and potential rise in demand from the Middle East and Africa, traders said on Wednesday. Thai 5-percent broken rice rose to $371-$383 a tonne, free-on-board (FOB) basis, from $365-$371 last Wednesday, while the same grain in Vietnam edged up to $380-$385 a tonne, from $375-$385 last week, traders said. 

The price of vannamei shrimp in Tien Giang, Vietnam is on the upward trend in the second week of March 2016, according to a post from the Vietnam Association of Seafood Producers (Vasep). Vannamei of 50 pieces per kilogram count was priced at VND 150,000/kg -- VND 40,000- 50,000/kg higher than that of the same period last year -- and 30/kg shrimp was priced at over VND 200,000/kg.

 

Prices that Vietnamese farmers are receiving for export-ready pangasius have risen amid a shortfall in pangasius seed that seems set to continue, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.According to VASEP, export-ready prices rose from VND 21,500 per kilogram ($0.96 per kg), to more than VND 22,500 last week. That price rise is being provoked by an even sharper increase in pangasius seed. Seed prices rose from VND 20,000/kg to VND 34,000/kg last week, according to VASEP. And in mid March alone, there's been a VND 3,000/kg price rise the agency said, due to a shortage of seed supply in the Mekong Delta.

HÀ NỘI (VNS) — The local cashew industry has seen a spike in cashew prices, marking a 10 year record high, mostly due to increasing global prices. As reported by Vietnam News Agency, a kilogramme of raw cashew nuts can now be sold for VNĐ32,000 (US$1.4), and a kilogramme of dried cashew nuts fetches VNĐ40,000, the highest prices recorded in the past 10 years. Việt Nam Cashew Association (Vinacas)’s chairman Nguyá»…n Đức Thanh said that cashew exporters are also buying cashew nuts from local farmers at higher prices.

Vietnamese rice export prices rose to near five-month high this week, pushed by China's buying and demand for loading government deals, while Thai rice prices were steady on thin demand, traders said on Wednesday. An absence of new deals due to rising prices in Vietnam and thin demand for Thai rice suggest importing nations have yet to rush for new purchases, even though import demand has been forecast to rise this year, according to a BMI Research report issued on March 8. 

The monthly expenses for food of each Vietnamese in 2015 was more than VND470,000 ($22), according to data from the General Statistics Office.