Nuts

Cashews: African countries can score with lower freight costs

November 24, 2021 at 11:13 AM , Der AUDITOR
Play report as audio

REUS/YAMOUSSOUKRO. According to the latest INC production estimates, Côte d'Ivoire has cracked the 1 million mt production mark this season. Due to lower freight costs, African origins can score with European buyers.

Côte d'Ivoire makes a big splash

According to the latest estimates of the International Nut and Dried Fruit Council (INC), Côte d'Ivoire has managed to break the production mark of 1 million mt of RCN this season. This puts the country ahead of India, with 738,000 mt, and Vietnam, which recorded a decline of just over 11% and ranks third with a raw nut production of 400,000 mt. The lower Vietnamese crop is offset by increases in India and Cambodia.

Delayed production in Vietnam

In West Africa, delays in shipments initially made it look as if the crop had been smaller, but a closer look at the warehouses disproves this. As the INC reports, much of the commodity from the West African growing countries has already been sold and is in the hands of large traders. This year, significantly more raw cashews were processed in West Africa; the advantage is lower transport costs and a high time saving, from which especially European buyers benefit. This contrasts with Vietnam, where the pandemic-related factory closures in August and September had led to a slowdown in the shelling process and the massively high transport costs also deterred many foreign buyers.

On the European spot market, prices for Vietnamese cashews have risen slightly in the past two weeks and are now at EUR 7.10/kg FCA Spain for the WW240 variety.

Cashew kernels, Vietnam

Type

EUR/kg

WW320

6.80

WW240

7.10

Large White Pieces

4.85

Small Pieces

3.15

FCA Spain

Conflicting data for Brazil

For Brazil, the forecasts for the 2021 crop do not coincide. While the Brazilian Institute of Geography and Statistics (IBEG) reckons that the crop volume will decrease by 11% compared to 2020, the INC, with reference to local industry sources, expects an increase of a good 11% to 150,000 mt of RCN. Global production for the 2021/22 season is estimated at 3.95 million mt, which would represent an increase of 3% compared to last season.

Cashew production, RCN, in mt

Country

2020/21

2021/22

Diff.

Côte d'Ivoire

900,000

1,000,000

11.1%

India

691,000

738,000

6.8%

Vietnam

450,000

400,000

-11.1%

Cambodia

190,000

250,000

31.6%

Nigeria

260,000

240,000

-7.7%

Tanzania

220,000

220,000

0.0%

Guinea-Bissau

180,000

180,000

0.0%

Ghana

170,000

155,000

-8.8%

Benin

173,000

150,000

-13.3%

Brazil

135,000

150,000

11.1%

Indonesia

115,000

115,000

0.0%

Burkina Faso

100,000

100,000

0.0%

Guinea Conakry

60,000

60,000

0.0%

Mozambique

55,000

55,000

0.0%

Senegal

35,000

35,000

0.0%

Togo

20,000

20,000

0.0%

Gambia

15,000

15,000

0.0%

Mali

7,000

7,000

0.0%

Kenya

6,000

6,000

0.0%

Others

54,000

54,000

0.0%

Total

3,836,000

3,950,000

3.0%

INC, November 2021

View more
price charts for edible nuts
price charts for dried fruit, oilseeds, spices and more

View related articles

Go to the News Overview
Nuts
Nov 28, 2023
CANBERRA. After witnessing years of high yields Australia's almond production slumped in 2023. This has impacted exports, which noted a 20% decline in September.
Nuts
Nov 27, 2023
NEW DELHI. According to current forecasts, the Kharif crop in India could be smaller than hoped for. Prices on the peanut market, however, have stabilised after the Diwali festival.
Nuts
Nov 27, 2023
ORDU. Turkey’s central bank took economists by surprise in hiking the key interest rate by 500 basis points to 40% on Thursday. Hazelnuts are profiting from a strong euro.
Nuts
Nov 22, 2023
CAPE TOWN/BEIJING. After South Africa, China will bring in the second largest crop this season with 56,000 mt and assert itself as an important exporter. In Australia, market players are facing difficulties.