Cashews Market Report 03.04.24

SOUPARNIKA has a limited quantity of SW320 available in May and June, but it is very good quality. There is no news from the Kollam local market as many factories are closed. The Delhi market is also very quiet with cash flow, and vehicular movement restrictions are not helping with this issue. SOUPARNIKA are seeing demand for FS and SS but otherwise, demand is poor. Raw seed prices continue to move up higher on spot and from origins. For example, Mozambique raw seed on spot is reported to have moved up to 100 rupees including 5% GST but it's not clear if any sales are being made as of yet. There has similarly been an increase in spot Tanzania prices. Origin offers on raw seed are very limited, and there are more reports of crop problems relating to both quantity and quality.

The market for Vietnam cashews has firmed during the past week due to USA buyers entering the market. Raw seed prices continue to climb, and seed from Vietnam/Cambodia is reported to be quite difficult. There is also talk of crops in West Africa being down by 15-20% on earlier estimates, and crop quality is below normal in many regions. If the Vietnam kernel exports continue at the same level as last year and the reduced estimates turn out to be correct, it is difficult to see how they can meet the requirements for raw seed.

via Africa Products