Cashew Market Overview
March 04, 2021 | 0 Comments
The new 2021 crop in Vietnam is estimated at approximately 380,000 MTs, for Cambodia at 250,000MT. Vietnam and Cambodia RCN prices are round US$1375-1450/MT.
For Benin, the average RCN quality is KOR 49 lbs with a nut count of 180, where average RCN FOB export price is reported round US$1250/MT.
Ghana RCN quality ranges round KOR 48 – 49 lbs, with average RCN FOB export price is at US$1200-75/MT. Locally processed WW320 kernels are traded for US$3.00–25 /LB.
Côte d'Ivoire RCN quality is recorded at KOR 44 -49 lbs with the average RCN FOB price ranges between US$1150 – 1250/MT.
There has been some selling pressure on cashew kernels coming from Vietnam. W320 around US$2.70-90/lb FOB. This can be due to the need to sell against new crop purchases and avoid speculative long positions. Also, normal crops are expected at all major RCN producing countries against lesser demand from China, India, and possibly other countries due to COVID and shipping issues. Last year, lockdown production stoppages helped stabilise the market somewhat, which will not repeat this year.
From Vietnam HACCP packers traded W320 at US$2.70/lb FOB for April to June shipments and US$2.75/lb FOB for April to July shipments.
Indian packers traded W320 at US$3.58/lb CFR to the Japan market and US$3.45/lb CFR to the Middle eastern ports.