August 09, 2019
Most raw cashew nut (RCN) traders, especially from African origins, are pushing up prices after rumours of shortages before the Vietnamese T&T announced its massive purchase of Tanzanian product.
Vietnamese company to acquire huge volumes of Tanzanian raw cashews
Massive purchase may stabilise prices before next harvest
The Vietnamese company T&T has announced that is has signed a memorandum of understanding (MOU) with the Tanzanian government to acquire 176,000 tonnes of raw cashew nuts (RCN) from the 2018-19 harvest and 200,000 RCN tonnes from the next harvest on July 30, after reaching similar deals with Ivory Coast and Guinea-Bissau.
Reporters
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