Cashew Market Report 16.07.24

Indian Cashews

With Indian Cashews, the market in Delhi has been generally quiet and may have edged a little lower during the past week. Some feel the traders are trying to push down the prices on a short-term basis to buy at lower levels for the Diwali festival and for the marriage season - for which a heavy demand is expected. There has been demand again over the past week from Middle East buyers wanting W180 W240 and W320.

Vietnamese Cashews

In terms of Vietnamese Cashews, the market has been quiet on this side for the past week. Existing contracts are being focused on rather than pushing for new business, Overall, shippers are acting OK, there are some late arrivals of incoming raw seed, but shippers seem to be catching up on their outstanding commitments. There is some demand for W320, but the margin is too low for the shippers. Raw seed shipments are coming through now, and there should be increased arrivals at the end of July going into August but these goods are urgently needed.

Once this is finished, there is the big question of availability from West Africa. With all of the crops coming to a close, there will be a big gap between now and when Tanzania starts to offer their product, and the prices are rarely competitive.

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