Nuts

Cashews: producers are optimistic about the future

February 3, 2022 2:19 PM, Der AUDITOR
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HANOI. Cashew exports already increased markedly in 2021 and analysts expect this positive trend to continue in the coming years. Prices, meanwhile, are largely stable.

Côte d'Ivoire and India are top producers

As the latest data from Fruit and Vegetable Facts show, 4.2 million mt of cashews were grown worldwide in 2021. Of this, 1.9 million mt of in-shell cashews and 700,000 mt of shelled cashews were exported. The two largest producers of RCN are Côte d'Ivoire and India, followed by Vietnam, Burundi, the Philippines and Tanzania. A large part of the raw nuts produced in Africa is shipped to Vietnam and India for further processing. These countries then ship the shelled goods mainly to North America, Europe and China. The leading buyers are the USA and Germany.

Prices on the European spot market have been relatively stable for several weeks and are only subject to nominal fluctuations. Vietnamese cashews, WW320, currently cost EUR 6.30/kg FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

USD/kg

WW320

6.30

7.15

WW240

6.80

7.70

Large White Pieces

4.38

4.95

Small Pieces

2.97

3.33

FCA Spain

Pandemic boosts consumption

The Vietnam Cashew Association (Vinacas) also confirms that Vietnam can be extremely satisfied with its exports in 2021. Compared to 2020, an increase in export volume of 12.6% was recorded, and the export value even rose by 13.3%. A total of just under 600,000 mt of Vietnamese cashews were shipped overseas. Experts forecast that exports will continue to increase in 2022. The Covid-19 pandemic has boosted the consumption of healthy foods, including cashews, worldwide.

Increased demand predicted

Experts at Mordor Intelligence estimate that the global cashew market will grow at an average rate of 4.6% over the period 2022-2026. They expect increased demand in the EU market in particular, but the USA, China, the UK and Japan have also already increased their purchases in 2021 and this trend is forecast to continue for the time being.

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