Nuts

Cashews: RCN supplies are not the issue

August 4, 2021 at 4:07 PM, Der AUDITOR
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REUS/HANOI/NEW DELHI. The International Nut and Dried Fruit Council (INC) reckons that global cashew production will be similar in size to the current season in 2021/2022. Drought will, however, partly impact production in Africa. Prices have , meanwhile, turned in different directions in Europe and in India.

Production to rise by more than 30% in Cambodia

At 3.76 million mt global raw cashew nut production will only range 1.6% lower than in 2020/2021. Although Côte d'Ivoire will retain its position as leading producer, production is expected to decline by 6.7% to 840,000 mt. Declines are also anticipated in Vietnam (-11.1%) and in Ghana (-11.8%). Production in India (+6.8%) and in Cambodia (+31.6%) is, by contrast, expected to rise. Although enough raw chashew nuts (RCN) are available, the shipping of processed nuts is diffcult as containers are lacking. The bottleneck has turned worse since in October and affects all agricultural raw materials. Freight charges are rising continuously and have doubled on last year. These problems have prompted stocks in Europe and the United States to melt away.

Cashew (RCN) production, in mt

Country

2020/21

2021/22

Diff.

Côte d'Ivoire

900,000

840,000

-6.7%

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

-9.2%

Benin

173,000

150,000

-13.3%

Brazil

135,000

135,000

0.0%

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

3,775,000

-1.6%

INC Juli 2021

Exports to rise in Vietnam

The Vietnam Cahsew Association (Vinacas) reckons that the country's exports will rise in the third quarter. July exports are estimated at 50,000 mt worth USD 324 million according to the MInistry of Industry and Trade. Although this is 14.9% down on June in terms of volume, exports are 19.6% up on July 2020. Exports are expected to range at 324,000 mt worth USD 1.97 billion in January to July 2021, which is 21.4% up on last year. Prices in Europe are nominally down on last week with WW320 cashew kernels from Vietnam trading at EUR 6.85/kg FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

Roasted and salted

6.95

White splits

5.05

Large white pieces

3.95

WW320

6.85

WW240

7.30

FCA Spain

Prices are up India

Cashew nuts are, by contrast, trading higher than last week in India. W240 chashew nuts have, for instance, risen by USD 43/mt in price and W320 cashew nuts by USD 38/mt. W240 cashew nuts are now trading at USD 9,993/mt and W320 cashew nuts at USD 8,649/mt FOB.

Cashew nuts, India

Type

USD/mt

W240

9,993

W320

8,649

W450

7,842

LWP

6,767

SWP

5,422

FOB India

 

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