Cashew sector needs 11tr dong for stable development

In order to develop the cashew sector stably in next ten years (2011-2020) an investment of some 11 trillion dong is required to develop material areas, modernise and study new products.

This is part of Vietnam cashew sector development strategy in 2011-2010 built by Vietnam Cashew Association (Vinacas) and it would be sent for the prime minister’s approval in the fourth quarter this year.

Currently, the cashew nut price in Q3 reached the record of 1999 at nearly $7 per kilogram. The reason was due to the cashew output of India, Vietnam, Brazil and Indonesia decreased while the demand is increasing.

The total amount of 11 trillion dong will be spent in two stages including 4.5 trillion dong for the first period 2011-2015 and 6.5 trillion dong for following five years.

The capital will be raised from both domestic and foreign banks, share issuance, corporate bonds and preferential loans of the government. – TBKTSG

Tags: Vietnam Cashew sector

Posted by VBN on Oct 8 2010. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry