Cashew market information 16.11.23

The export cashew market has been all but abandoned, with only a handful of buyers remaining on the market. The absence of WW240 cashew nuts from November until February 2024 has led to a significant surge in their price. A few containers for December or January 2024 are available, priced between 2.70-2.75 usd/lb. In contrast, numerous broken grades are still in seller's stock.

The prices for WW320 and other grades remain unchanged. Some factories are trying to clear their remaining 2023 inventory by reducing their offer prices by 2-3 cents/lb.

Most major factories report being completely sold out for 2023, extending into the first and seconds quarters of 2024. However, they are hesitant to sell more goods at the moment due to the current low prices of cashew nuts.