Cashew Market Overview - 09th to 16th July 2021
July 16, 2021 | 0 Comments
Vietnam cashew kernel market is firm with WW320 prices between US$3.15-3.35 per lb FOB. Vietnam Kernel exports continue to remain strong with strong demands. Indian W320 prices are round US$3.60-3.65 per lb FOB, with domestic demand supporting the market. In IVC processed kernels are priced between US$3.20 – US$3.40 per lb, while in Ghana W320 are priced between US$3.00 – US$3.20 per lb. Processing is not expected to be significantly disrupted in the coming quarters.
Raw Cashew Nuts:
India is actively buying RCN from Guinea Bissau, Senegal, and Gambia. It is estimated India would need another 450,000 MT of RCN to be imported by end of this year. In Vietnam, most of the RCN now lies with traders and processors. RCN prices are steady and with bottlenecks in supply and shipping, prices are not likely to fall.
Vietnam imported 1.41 million MT of RCN from January to May 2021 valued at US$ 2.21 Billion with an average price US$1562/MT. While Cashew kernels exported from Vietnam were valued at US$1.27 billion, making a net trade deficit of US$934.56 million to date, while there was surplus of US $648.35m for same period last year. Cambodia exported 939,000 MT RCN to Vietnam with a value of US$1.57 billion and average price of US$1675/MT. Exports from Tanzania to Vietnam reached 145,000 MT with value of US$209.38m and average price US$1450/MT, while IVC was 144,000 MT with value US$ 186.66m and average price US$ 1290/MT. Exports from Ghana to Vietnam reached 69,000 MT, equivalent to US$79m and price US$1140/MT and while from Indonesia supplies reached close to 18,000 MT with a value of US$23.30m and average price US$1275/MT.
Nigeria exported a total 80,000 MT of RCN since the start of the season, while total exports from Bissau estimated at 150,000 MT. RCN prices for IVC ranged between US$1250-$1300 FOB for KOR 46-48 lbs, Ghana ranged between US$1000-$1050 FOB for KOR 48-49 lbs, Nigeria ranged between US$1100-$1150 FOB for KOR 45-46 lbs, and Guinea Bissau ranged between US$1400-$1450 FOB for KOR 52-53 lbs.