Cashew Market report, 02.11.2022
RCN demand and supply
- the price of RCN is stabilizing and not going down further
- there is still sufficient stock of RCN in Vietnam
- import figure shows that RCN import into Vietnam has dropped by almost 20% this year compared to last
CKN demand and supply
- China demand has come in strongly increasing prices of bigger size grades W180, W240
- 70% of Vietnamese packers have temporarily stopped processing due to a lack of demand from the USA, and Europe and due to a lack of parity with RCN prices
Bullish factor:
Demand inflow coupled with low processing can cause prices to rise in Vietnam
Bearish factors:
- after china’s demand, if there is no steady demand from Europe & USA, the continuous availability of RCN can pull the prices of kernels lower
- economic turbulence/recession,
- the ongoing bearish sentiment of European consumer
- strong USD