Nuts

Cashews: no supply squeezes in 2022

January 25, 2022 8:00 AM, Der AUDITOR
Show report in German
Play report as audio

HANOI. High carry-in supplies coupled with good crops in Vietnam, India and Côte d'Ivoire should ensure a steady supply this year. Exports are, however, anything but simply.

Record volumes in Vietnam

As Cornhouse reports Vietnam imported around 3.5 million mt of raw cashew nuts (RCN) in 2021. This not only exceeds the volumes imported in 2020 by more than 81% but also sets a new record. The exceptionally high volumes imported from Cambodia remain suspicious. At 609,260 mt, Vietnam's exports range nominally higher than recent official estimates. Vietnam certainly still holds large supplies.

Buyers are holding back in the USA and in Europe, which is normal for this time of the year. Roasters appear to have enough supplies at their disposal for the next six months and sufficient supplies are available at the ports. Reports state that many shippers in Vietnam will close for Chinese New Year, which is celebrated on 1 February. Exports should therefore range below the six-month moving average over the next few weeks.

Encouraging production prospects

The shipping crisis will certainly continue to slow down exports. High Covid-19 infection rates mean that there is a labour shortage and restrictions are in place at the ports. A high number of ships are still waiting to enter their ports of destination and to be unloaded. Extortionate cargo rates prevail and contingency plans are being drafted. Prospects are, however, rather encouraging as reports state that the crops are developing well in Vietnam, India and Côte d'Ivoire and because carry-in supplies are relatively high this season. Analysts, therefore, agree that a supply squeeze is out of the question this year. Although raw cashew nut prices are high, cashew kernel prices range surprisingly low in Europe.

 

Cashew kernels, Vietnam

Type

EUR/kg

USD/kg

WW320

6.38

7.25

WW240

6.80

7.75

Large White Pieces

4.38

4.97

Small Pieces

2.97

3.38

FCA Spain

 

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

Are you interested in cashew?
Visit our top seller pages. Here you will find exclusive market reports, offers and prices and crop data.
Find out more

View related articles

Go to the News Overview
Nuts
May 25, 2022
Hazelnuts: strange market dynamics
ORDU. Over the last few weeks reality has kicked in that sufficient supplies are available, and attention shifted more towards the new crop. At present, the mood is, however, shifting in Turkey’s hazelnut market. Issue are strange dynamics. The market may also have to adjust production estimates for the new crop.
Nuts
May 25, 2022
Almonds: conservative guesstimate in Spain
MADRID/SACRAMENTO. While almond production will range 4% lower in California at 2.80 billion pounds, things are also far from encouraging in Spain. According to the National Nut Board production will range 30% lower than last year. Judging by experience, however, the estimates presented by this organisation tend to be rather conservative.
Nuts
May 23, 2022
Peanuts: unease over supply and demand
NEW DELHI. Although the prices for peanuts have fluctuated in a narrow range in India in recent weeks, traders reckon that this is about to change. Issue are global factors, especially since production is under the weather in Brazil. Recently updated production estimates, however, tell a different story.
Nuts
May 19, 2022
Hazelnuts: tricky demand situation
ORDU. Economists reckon that Turkey is witnessing an unprecedented economic crisis of epic proportions. Hazelnut suppliers report the inflation is much worse than official figures suggest, and exporters are dealing on slippery grounds. The production estimates issued at the International Nut and Dried Fruit Congress also illustrate some surprising trends.