Cashew Market Report 04.03.24

Indian Cashews

SOUPARNIKA has experienced strong demand for their W320 from Japan over the past week. Meanwhile, the Middle East market has been relatively subdued, likely due to preparations for Ramadan. In Kollam, the local kernel market has also remained quiet, with both export and domestic demand stagnant. Farmer protests in Delhi persist, hindering movement and causing cash flow issues in the region. This subdued market activity in Delhi and the Middle East may create pressure for holders of spot goods in need of cash, while the raw seed market maintains its firm stance.

Processors are seeking quality seed due to delays in shipments/arrivals from West Africa.

Vietnamese Cashews

In the Vietnamese cashew market, demand from Japan and China remains strong, while Europe and the USA show less activity. Sellers are not compelled to sell due to uncompetitive raw seed prices. Shippers note increased demand from Japan, China, and South Korea, with expectations of further demand growth of 10-15% in 2024. Some inquiries from Europe for WS and W320 have been reported, though no firm bids have been received.

Demand is observed from Vietnam's new crop seed as processors require goods for processing before the arrival of West African seed in April/May.

via Africa Products