Cashew Nut Market Update
Vietnamese Cashew nut production will become quieter for the next 10 days as we enter the Tet Holiday period. Most factories have either finished up or will do by the end of Friday the 28th of January for the holiday season. Business on W240 is slow at present, with little demand at current pricing. Vietnamese Cashews still lack real parity to the RCN market as a whole.
Early activity from Indian traders and processors is showing the first good volumes of African crop. This doesn’t come as a surprise given that packers have a strong demand in local and middle eastern markets.
It is expected that when new crop arrives to stores that supply will vastly outweigh demand, and so pricing should reduce in turn… in an attempt by processors to increase the demand. Offers have already softened for new crop with this in mind, as new crop is anticipated shortly.