Cashews Market Update - April 2022, Week 14

The International Nut & Dried Fruit Council expects the current production estimates to be 4.11 million mt. This is a 5.8% increase from last year. Cote d'Ivoire & India can increase their crops by 11.1% & 6.8%, respectively. At the same time, it is expected that Vietnam will record a decline of 11.1%. On the other hand, Cambodia has the potential to achieve a production increase of over 50%. 

While the production numbers are encouraging, quality could be an issue this season. Harvest delays and improper storage conditions in Tanzania might push buyers away from buying goods. Southeast Asia has also struggled with heavy rainfall, which has left a mark on the cashew crop. In West Africa & India, there are no concerns regarding quality so far. 

Since 2021, the demand for cashews has constantly increased in the USA and the European Union. This is a clear indicator that new consumers buy cashews as healthy food and are increasingly consuming them. The buying interest has increased in China as well, particularly near the Chinese New Year. 

Logistics are still a problem that both African and Asian exporters continue to face. Congestion at ports, container shortages and high freight prices are causing delays and mistrust among buyers.