Hazelnuts and Cashews market report 23.11.23
The hazelnut market has remained stable this week due to Ferrero's high buying activity after their price increase the previous week. The remainder of Q4 2023 is likely to have stable levels because of this. Since buyers have increased in the market today, there is less risk of prices falling before the end of the year.
The cashew export market is quiet again after a few busy days. Some sellers stopped offering cashew nuts after not receiving any feedback from buyers. WW320 cashew nut prices from good packers are fluctuating between 2.43-2.45 USD/lb.
Opposed to investors' predictions, the cashew nuts market has shown no sign of recovery while raw material prices are still on a downward trend. Producers say that they don't want to rush to buy raw material while its price is decreasing, plus the current price for raw materials is much higher than that of cashew nuts.