Cashew Market Overview
April 08, 2021 | 0 Comments
Statistics: Vietnam cashew nuts exports in March 2021 estimated at 41,000 MTs, valued round US$240 million. Average export price in March estimated $5.85/kg, higher 0.9% is comparison to February 2021. Total exports from January to March 2021, estimated at 108,000 MT valued round US$634 Million, up 13.2% in volume, and down 5.8% in value compared to same period in last year. Average export price for this period estimated $5.86/kg, lower 16.8% than Q1 2020. Main exports are to US, China, Netherlands, Canada, and Germany.
Prices: Vietnam exporters offering W240 at US$3.30-3.55/lb, W320 at US$2.90-3.10/lb, WS at US$1.60-1.85/lb, LP at US$1.05-1.25/lb FOB for April to August shipments. Vietnam packers traded W180 at US$3.85-3.90/lb, W360 at US$2.90/lb, W240 at US$3.30-35/lb, LBW320 at US$2.45-50/lb, WS at US$1.60-1.65/lb FOB for April to June shipments.
India new crop is progressing although it is a bit early to give estimates. Due to normal weather conditions and relatively unrestricted rural activity, we expect overall crop quantity and quality to be better than last years. Since last year, the labour migration back to rural areas from urban has resulted in an uptick in farm activity, benefiting most crops.