Cashew Nut Market Update January 2022 Week 4

As reported in our previous market update, Vietnam has imported around 3.5 million MT of raw cashew nuts (RCN) in 2021. This number not only exceeds last year's volume by more than 81%, but it also sets an entirely new record. However, this isn't something that everyone's happy about. The unusually high numbers imported from Cambodia are a point of contention. 

Buyers from the US and Europe are holding back, but this is common at this time of the year. It appears as though most suppliers have enough cashew nuts at their disposal for the next six months and sufficient supplies are available at ports too.

Exports will therefore range below the six-month moving average over the next few weeks.

As usual, the shipping crisis continues to slow down exports. With a rising number of infection rates among workers, restrictions have been placed in ports. Yet, a high number of ships are still willing to enter their ports and be unloaded.

Extortionate cargo rates triumph and contingency plans are being formulated. However, the situation is still quite promising as reports state that the crops are developing well in Vietnam, India and Côte d'Ivoire and because carry-in supplies are relatively high this season. 

We will let you know as the situation escalates.