Cashew Market Overview
March 11, 2021 | 0 Comments
Vietnam cashew kernel prices rebounded by 5-10 cents/lb after the price drop which happened in February. Recovery was mainly due to reports on a delayed Vietnam and Cambodian crop. In India as well, a later than usual crop is expected. These factors may be due to the impact of La Nina. With these delayed crops, RCN are at risk of early rains, and chances of a smaller crop are there.
Africa: Burkina Faso the season has not yet started. First quality test results in Benin gave outturn 48-49 with nut count 170-180. IVC RCN FOB export prices at $1100-$1150/MT 48-49lbs. At Guinea average quality reported with outturn 43 – 44 lbs and 2,436 MTs of RCN exports reported. In Nigeria unstable exchange rate is affecting the cashew market, RCN quality reported good with outturn 47–48 lbs. Farmgate prices reported round $820-$920/MT. Steady prices reported in most major RCN producing countries in Africa.
Vietnam “A” ranking BRC packers traded W450 at USD 2.62/lb FOB for April & May shipments.
Vietnam “B” ranking BRC packers traded W240 at USD 3.25/lb FOB for April & May shipments.
Vietnam “B” ranking HACCP packers traded W320 at USD 2.72/lb & W450 at USD 2.56/lb FOB for March to May shipments.
Indian “B” ranking packers traded W240 at USD 3.85/lb & W320 at USD 3.50/lb FOB for April shipment.