Cashew Market Overview June 2020
June 18, 2020 | 0 Comments
Vietnam had a very good crop this year approximately 450,000 MT due to good weather conditions. Crop in Cambodia was also good and estimated around 250,000 MT. Crops from West Africa is projected to be lower this year by 90,000 MT, also the quality is expected to be lower. Crop in India this year is lower approximately at 691,000 MT compared to 742,000 MT in 2019. Crops got affected in terms of quality and quantity because of the lockdown in India at the time of harvesting period. Cashew kernel production last year in 2019 for Vietnam was 487,000 MT and 341,000 for India approximately.
Vietnam Exported around 187,759 MT in this year from Jan to May compared to 159,373 MT last year. Exports to China from Jan to April went down from 14,103 MT to 8,452 MT compared to 2019, where exports increased to USA to 49,178 MT same period compared to 34,385 MT in 2019 and for Europe and other countries exports increased to 89,618 MT compared to 69,167 last year for same period of Jan to April.
Importers bought good quantities in Europe and the USA due to supply chain concerns during Q1. Retail sales went up in the EU and USA in March and April, and went flat in May. Restaurant sales have been affected badly. Buyers at the moment are holding good quantities of stocks and asking for extensions on current orders and ordering small quantities due to uncertainty.