Cashew nuts export update 05.01.24
- The cashew nuts export market has had minimal activity in the first few days of the new year. Some sellers are on the market with cashew nut offers for the Quarter 2, 3 and 4 of 2024. Cashew nuts haven't changed much compared to the last days of 2023.
- Sellers are worried about the rising cost in freight shipments due to the situation in the Red Sea, and how it will affect the cashew nut prices and buyers' purchasing power in 2024.
- Big trading companies are returning to the domestic market. WW240 cashew nuts are being bought at around $2.65-$2.67 usd/lb and WW320 grade at $2.30-$2.32 usd/lb.
- The weather in Vietnam has been very favourable, and most people expect them to have a bumper crop. The price of Vietnam raw material (inshell/seeds) at the beginning of the crop is forecasted around $1,250 usd/ton, 53-54lbs outturn.