Cashew Market Report 04.02.24
The export market has been fairly quiet, though SOUPARNIKA has seen demand from Japan on W320. At this time it isn't easy to know what prices would be workable with raw seed prices remaining high at the moment. The Kollam local kernel market has been quiet as processing is limited due to a lack of raw seed, but some business is reported on average quality W320. The market in Delhi has also been generally quiet this week, as there has been continued pressure from poorer quality kernels and a subsequent reduction in prices.
The raw seed market is firm, but there is very little raw seed available on the spot and reports of large quantities of seed being held up in transit in Salalah which could put even more pressure on the nearby arrivals of seed. SOUPARNIKA has been asked by Delhi buyers to cover new crop of Kerala raw seed for some specific manufacturing demand. The first purchases have been made for delivery next week which will break even across all grades.
Overall, the market has been quiet with many factories closing down for thorough cleaning before the Tet Holidays. It's predicted that the market will remain quiet for the next 10-15 days. There are requests for various grades but actual bids are not forthcoming as of yet. Shippers did try to increase their selling ideas in the week but as the days progressed the prices drifted back down again. There is some limited demand from Japan for shipments from May to September, and the new crops in Vietnam and Cambodia are reported to be progressing okay.
via Africa Products Limited