Cashew Market Report 09.08.24

In the first and second quarters of 2024, cashew nut exports reached 350 thousand tons, marking a 24.9% increase, with a total value of $1.95 billion, a 17.4% rise. The average export price was about $5,496 per ton, a 6.1% decrease. The top three export markets were the United States (26%), China (18.9%), and the Netherlands (7.9%). Exports increased in 14 out of 15 major markets, with Russia showing the strongest growth at 82.4%.

The raw market is relatively quiet with limited offers available. Some raw cashews are either in transit or stored in bonded warehouses, but the high prices have dampened demand. The available raw cashew nuts have a lower yield, meaning they are producing smaller sizes after cracking.

The kernel market is also experiencing reduced activity. Medium-quality BRC packers are offering W240 at around $3.65/lb and W320 at $3.30-$3.35/lb FOB for shipments in August and September 20224. Good to top quality BRC/SMETA packers are pricing W320 at $3.45-$3.55/lb and W240 at $3.80-$3.90/lb FOB for shipments between August and December 2024.

via Certus Commodities LLP