July 04, 2017

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Sales of high-priced cashews boom in Ayeyawady Region

A pile of cashews is seen at a brokerage in Thataung Photo: Myitmakha News Agency
A pile of cashews is seen at a brokerage in Thataung Photo: Myitmakha News Agency

CAHSEW sellers in the Ayeyawady Region township of Thabaung are enjoying the appreciation in the value of the nut, which has not affected sales.
During the last five years, a viss (1.6 kilos) of cashews fetched K1,500, while the price for the same quantity increased by two thirds to K2,500 at the beginning of 2016.
“Cashews are going for such a good price. On top of that, there is a lot of buying and selling [of the nut],” said U Bone Kywai, a cashew wholesaler.
The appreciation in the price of cashews can be attributed not only to good sales of the nut in Yangon and Pathein markets but also to competitive buying from other parts of the region.
“The cashew is a type of crop which can quickly rise or fall in price. A year of good-quality cashews makes things favourable for us plantation owners,” said U Aung Soe, a cashew nut plantation owner.
There are between 500 and 1,000 acres of cashew plantations in villages along the western hills of Thabaung Township.—Myitmakha News Agency

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