Cashew Market Update March 2022 Week 10

Vietnam is expected to see harvest delays. The damage caused by heavy rain is being assessed, and while it remains to be minimal at worst, the weather could cause the harvest to be rescheduled. Considering the production target, Vietnam will likely continue to perform well as it did last year. The cashew exports for Vietnam had seen an increase of 17% last year-round. 

The market is confident that this year's numbers would be around those levels as well. With carry-over stock available in high numbers, and good production numbers, the market is expected to see changes in prices. All market players are keeping a close eye on this. 

East Africa is also expected to perform well this year. The Cote d'Ivoire government launched the new marketing campaign in early February has proven successful as the country has managed to push production above 1 million mt. 

India has seen a high demand due to the wedding season on-going. At the same time, there are outcries of crop damage due to increased rain in the monsoon season. With the demand rising and shortages in crops due to weather, this will put pressure on the market, leading to price rises. 

In global terms, the International Nut & Dried Fruit Council reports that global production numbers will reach 3.95 million mt for this season. This translates into a 3% increase from last year.