Nuts

Cashews: crop damages in Vietnam and Cambodia

February 21, 2022 10:43 AM, Der AUDITOR
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HANOI. Heavy rains witnessed in February have damaged the cashew crop and impacted the quality in Vietnam and Cambodia. This will certainly limit global supplies in 2022. Things are, by contrast, more encouraging in West Africa.

No problems in West Africa

As former Vinacas chairman Nguyen Duc Thanh reports the unusually heavy rains and storms witnessed after the start of the Lunar New Year on 1 February have hit plantations in Vietnam and Cambodia hard, many of which are still flooded. This has adversely impacted production in Cambodia, where crop losses are estimated at 30%, additional moisture is also affecting quality. The situation will most certainly delay harvesting in both countries. Producing countries in West Africa are, by contrast, reporting no problems, harvesting is progressing well here so far. 

Lack of RCN supplies in Vietnam

Small and medium-sized processing facilities in Vietnam state that raw cashew nut supplies are lacking, which has prompted traders and exporters to demand higher prices for these nuts. Most buyers, however, refuse to accept these prices. Harvest reports and crude oil prices will definitely shape the market in the next few weeks. Nguyen reckons that global production will range 10% lower than last year. Although demand is set to remain high, much will also depend on quality. The spot market prices in Europe have remained remained high with nominal fluctuations. The prices for WW320 cashew kernels from Vietnam range at USD 7.45/kg (EUR 6.55/kg) FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

USD/kg

WW320

6.55

7.45

WW240

7.20

8.19

WW210

8.40

9.56

WW180

8.95

10.18

FCA Spain

 

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