Cashew Market Update April 2022 Week 17

The Vietnam Cashew Association is concerned about losing market shares in the United States. Meanwhile, things look pretty encouraging in the United Kingdom's cashew market. But with prices turning in different directions in both the EU and India, the Association's concern may not be unfounded.

The US has already imported 13,510 MT of cashews in January. In 2021, Vietnam supplied only 11,780 MT to the United States, which shows an overall increase of 8.9%. However, it has been noted that in January this year, the United States also increased its buying of cashews in African countries such as  Côte d'Ivoire and Nigeria. This has led to a decrease in market share for Vietnam. While it is still a top supplier of cashews in the United States, future trends may change. Of course, this won't happen in a year or so, but long-term projections could be very different, especially if Africa ramps up its cashew crops.

Compared to the United States, market shares in the United Kingdom, as noted, have increased. The UK imported 3,710 MT of cashews between January and February, up from last year by 14.3%. This means that Vietnam holds 90.95% of UK market shares for cashews.

Spot market prices have declined in Europe, with prices for WW320 cashew kernels at US$ 7.13/kg FCA Spain. Compared to that, prices in India are at US$8.16/kg FOB India.