Cashew Market Overview
March 18, 2021 | 0 Comments
Cashew kernel prices have firmed up 2%-3% and Vietnam BRC packers traded W240 at US$3.35-45/lb, W320 at US$2.85-3.00/lb FOB for April to August shipments and HACCP packers traded W240 at US$3.25-35/lb, W320 at US$2.75-85/lb FOB for April to July shipments. RCN prices increased by 50-100 USD/PMT. As of January, and February 2021, the United States, China, and the Netherlands remained the three largest cashews import markets of Vietnam, accounting for 24.4%, 19.2% and 10.3% respectively.
Due to the increase in cashew kernel exports in the last few months, the demand for imported cashew raw materials has increased. Estimated volume of imported cashew nuts in January 2021 reached 130,000 tons with a value of $ 186 million, 2.5 times higher in volume and 2.2 times in value compared to January 2020.
Benin, Burkina Faso, Ghana, Cote D’Ivoire arrivals are steady for the new crop with FOB trading in the range of USD 1075 (Burkina Faso To USD 1275/MT (Ghana) for 48-50lbs outturn. Prices are generally lower than last years prices. Farm movement is slower due to the COVID effects, including credit squeeze, shortage of bags, and shipping bottlenecks. As per early reports, the crops appear to be of normal quantity and quality.