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BUSINESS IN BRIEF 31/5

May 31, 2012 robert Leave a Comment

Cashew farmers switch to rubber Many farmers in the southeastern province of Binh Phuoc, the country's largest cashew cultivation area, have switched to growing rubber trees as the price of cashews has fallen by 50 per cent. Farmer Ma Van Quang of Dong Phuoc District's Thuan Loi Commune, said he did not have enough money to continue to cultivate cashews this year, especially after a poor harvest. The price of cashew nuts has dropped to VND26,000-27,000 (around US$1.28) a kg compared to VND37,000-40,000 ($1.76-1.9) a kg last year. "My neigbours have also cut down their cashew orchards," Quang said. Tran Ngoc Tuan, whose orchard is near Quang's, cut down four ha of his six-ha cashew orchard. "The income from cashews is now even lower than that from cassava," said Tuan, who had grown the trees for more than 10 years. Farmers with orchards that have productive trees are also switching to other crops. Nguyen Thi Quynh Giao, a trader who buys cashew-tree wood in Bu Gia Map … [Read more...] about BUSINESS IN BRIEF 31/5

Business, HCMC, HO CHI MINH CITY, Natural Resources, The Government, Vietnam


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