Cashew Nuts Market Insights July 2022 Week 28

Due to unseasonal rainfall in February, and signs of pesticides and diseases in major cashew regions, Vietnam imported about 1,200,000 MT of RNC in the first six months of 2022. Compared to 2021, Cambodia, the largest RCN exporter to Vietnam, suffered from crop damage, leading to a crop loss of around 30%. The situation has led to concern about crops in some parts of West Africa, but the impact may very well be limited.

Additionally, there has been a record of poor crop harvest from almost major growing areas. India has been importing quite a large amount of cashew nuts as the market recovers from domestic demand after the pandemic. Internationally, there's still uncertainty in the cashew kernel market. There's the Russia-Ukraine war, high inflation, credit crunch in the US and the EU, and the covid situation in China. All of these factors combine to create uncertainty which we will have to keep a check on for the next few months.