Cashew Nuts Market Update February 2022 Week 7

Unusually heavy rains have been reported since the Chinese New Year. Plantations in both Vietnam and Cambodia have been affected; many of them have been flooded. Of course, this will definitely impact production in Cambodia. It has been estimated that there will be around 30% crop loss with additional moisture affecting the quality too.

It is expected that harvest will be delayed due to this.

Meanwhile, in West Africa, there have been no reported problems. In fact, the harvest is progressing quite well.

There is a lack of raw cashew nuts in both small and medium-sized factories in Vietnam, so traders and exporters have used this opportunity to ask for higher prices. 

Buyers refuse to accept these prices. Given the mentioned conditions of the harvest, we will see what will happen in the market in the next few weeks.

It has been reported that the overall world cashew nut supply is down by 10% compared to this time last year.

Demand is expected to remain high, but everything else will depend on the quality of the product. Interestingly, spot market prices in Europe remain high with minimum fluctuations. The price for Vietnamese WW320 kernels is US$7.45/kg.