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October 26, 2020

Cashew
kernel prices are forecasted to increase slightly in the near future according to the law of supply and demand in the market, because many small and medium-sized cashew processing facilities in both Vietnam and India have reduced capacity.  

According to the Department of Agro-Processing and Market Development, Vietnam's cashew nut export is forecasted to continue to increase in the coming months, because in the last months of the year, major importing countries such as the US, India, EU and China. Quoc will increase imports to serve the needs of the year-end holidays. Cashew kernel prices are forecasted to increase slightly in the near future according to the law of supply and demand in the market, because many small and medium-sized cashew processing facilities in both Vietnam and India have reduced capacity and stopped working. In turn, the quantity of goods supplied to the market decreases.

nongsandieu
According to estimates of the Import and Export Department (Ministry of Industry and Trade), the export of cashew nuts in September reached 50 thousand tons, worth $ 298 million, up 7.5% in volume and 9.8% in value compared to the month 8, compared to September 2019, up 18.3% in volume and 2.3% in value. In the first nine months of 2020, cashew nut exports reached 363 thousand tons, worth $ 2.3 billion, up 10.6% in volume but down 4% in value over the same period in 2019. The average export price of cashew nuts in September was estimated at US $ 5,960 / ton, up 2.1% compared to August but down 13.5% compared to September 2019. In the first 9 months of 2020, the average export price of cashew nuts was estimated at $ 6,332 / ton, down 13.2% over the same period in 2019. The Agro Processing and Market Development Department said that the current demand for raw cashew is still very high, mainly from split kilns and small factories.
 As for the big factories, because the price is too high, they cannot balance the kernel price, so they reduce their processing capacity to wait for the price of raw cashew to decrease.

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For the cashew market, in the last two weeks of September, transactions were more active. Cashew kernel price is fluctuating at 6,128 to 7054 USD / ton for W320 FOB code. Chinese demand is also increasing but offering is less due to the importers having stricter requirements on quality, while the source of goods conforming to their standards in Vietnam is not much. In the domestic cashew market, the price is continuously increasing, higher than the FOB price. The main reason is that some companies lack goods to implement signed contracts that need to buy domestic cashew kernel. There is also information that some trading companies are gathering cashew nuts to push up prices to sell raw cashew. Cashew kernel prices in the market are increasing in a short period due to the shortage of local raw cashew in Vietnam. However, the supply of raw cashew nuts in the world is still very large so it is possible that in the next 1-2 months, cashew kernel prices can be dug in the afternoon. It is therefore recommended for cashew processing factories to be cautious about this situation.  

Source: Vietnambiz
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