First cashew trading floor opens in Binh Phuoc

The first electronic cashew trading floor, sponsored by Saccombank, opened on March 20 in Dong Xoai town, Binh Phuoc province in the hope of making Vietnam become one of the world’s leading cashew exporters in 2010 with a turnover of US$1 billion.

Considered a modern model in accordance with the country’s development and integration into the global market, the floor attracted hundreds of foreign and domestic traders who came to gain information and register for their transactions on the opening day.

The floor offers a modern trading system, fair competition, easy access to credit, and price insurance to help companies make profits through effective investment.

Saccombank director Phan Vu Hung said his bank is making their effort to create added values to the agricultural sector, particularly the cashew business.

The opening of the floor is part of the Golden Cashew Festival, an occasion to honor, promote and affirm Vietnam’s cashew trade mark, the cashew industry and cashew growers.

Blandina Kilama, a farm market researcher, said she was surprised at the quality and volume of the products showcased at the festival.

“The festival provides a more comprehensive view of the cashew industry in Vietnam and the challenges to which Vietnamese businesses have responded”, she said.

VietNamNet/VOV

Tags: Vietnam cashew, Vietnam Cashew Trading Floor