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  • At the beginning of the year, cashew nuts and oranges have dropped in price 01/30/2023

    Jan 30th, 2023

    The beginning of 2023 is the main cashew harvest in the provinces of Binh Phuoc, Gia Lai, Dong Nai... However, the price of cashew nuts is falling so low that cashew farmers stand still. Mr. Nguyen Minh Khoi, a cashew farmer in H. Bu Dang (Binh Phuoc) said: "This year's cashew crop has failed, the output is low but the price is miserable, I went to pick up a few hundred kilograms all day and sold it. 1 is priced at 28,000 VND/kg, type 2 is only 25,000 VND/kg. At this time last year, the price was also low but still over 35,000 VND/kg. In some other provinces, the price of cashew nuts is ranging from 21,000 to 25,000 VND/kg, many places traders have not yet purchased. According to the forecast of the Vietnam Cashew Association (VINACAS), the situation of cashew kernel consumption for export in 2023 will be even more difficult than the previous year as markets cut spending on non-essential products, including: cashew. Currently, 90-95% of cashew production is for the export market. The domestic consumption is only about 5-10%, the foreign market is difficult, affecting the purchase price of domestic raw materials. VINACAS also sets a modest target: Cashew nut export turnover in 2023 is only US$3.1 billion, a slight increase of US$30 million compared to 2022. Another agricultural product that is falling sharply in price is oranges. In the Vinh Long orange growing area, the price of grade 1 oranges in the garden is only 5,000 - 5,500 VND/kg. Before the Lunar New Year, the price of oranges dropped to low, but the beautiful orange orchards remained at 7,000 - 8,000 VND/kg. Right after the holiday, the price of oranges fell sharply, even many gardens for sale but few people bought them. According to some traders, oranges are mainly used to make orange juice, many people are still on Tet holiday, workers have not returned to work, so demand is low, purchasing power in retail markets has not recovered. Besides, the current weather often rains, cold air appears in many places across the country, making orange consumption even more difficult.