Cashew Market Overview - 15th to 27th May 2021
May 27, 2021 | 0 Comments
In April 2021, Vietnam imported around 480,000 tons of cashew nuts with a value of 772 million USD, equivalent to March 2021, but increased sharply by 375 % in volume as well as 470.5% in value over the same period in 2020. During January to April 2021, Vietnam imported a total of nearly 1.2 million tons of cashew nuts with a value of up to 1.9 billion USD, up 300% in volume and 323.5 % in value compared to 2020. The average import price of raw cashew nuts in the first four months of 2021 is estimated at about US$1,580/MT, up 5.8% as compared to whole years imports of 2020 in terms of quantity.
The increase in imports of raw cashews is partly due to the unusual weather, which delayed the harvest by a month and due to Lockdown in India the cargo is being diverted to Vietnam.
Kernel prices fell as buyers are awaiting more information before committing. Vietnam BRC traded W320 at USD 3.09-10/lb , WS at USD 2.05-09/lb , W240 at USD 3.45-50/lb FOB for September to December shipments. HACCP packers traded W320 at USD 3.02-05/lb , WS at USD 2.00-05/lb FOB for June to August shipments
Indian business is low volume due to Lockdown in most of the states. Demand from Middle East slowing coming in after EID Holidays. By next week, many states might lift the lockdown and we might see domestic demand picking up.