The cashew market in Vietnam is experiencing a period of volatility, with raw cashew prices increasing daily and processed cashew prices following suit. This is due to a number of factors, including the high demand for cashews in the world market, the limited supply of raw cashews, and the rising costs of production.

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Cashew market in Vietnam on May 31, 2024

  1. Raw cashew market
  • Raw cashew prices from West Africa are increasing daily, up USD 50-60/MT from last week.
  • The offering prices for raw cashew nuts of various types are as follows (C&F HCMC)
Origin Qutturn Recovery (Lb) Number of nuts Price (USD/MT)
IVC (Delivered on board) 48 200 1360-1380
IVC 45 200 1180-1200
Nigeria 49 185 1300-1325
Ghana 46 200 1280-1300
Senegal 52 220 1480-1500
Guinea 51 200 1390-1410
Guinea Bissau 53 215 1600-1625
Togo 45 190 1300-1325
  1. Processed cashew market
  • The offering prices are as follows (FOB HCM):
Factory type W180 (USD/Lb) W210 (USD/Lb) W240 (USD/Lb) W320 (USD/Lb) W450 (USD/Lb) WS (USD/Lb) LP (USD/Lb) SP (USD/Lb)
BRC & Smeta 4.05-4.15 3.70-3.75 3.30-3.35 3.10-3.15 2.70-2.75 2.25-2.35 1.70-1.80 1.25-1.30
BRC 3.90-4.05 3.60-3.70 3.15-3.30 2.90-3.10 2.55-2.70 2.15-2.25 1.60-1.70 1.15-1.25
HACCP 3.75-3.90 3.55-3.60 3.05-3.15 2.80-2.90 2.45-2.55 2.10-2.15 1.55-1.60 1.05-1.15

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Market assessment

  • The raw cashew market is fluctuating due to the high price of processed cashews.
  • Cashew processors need help in balancing production costs due to the increase in raw cashew prices.
  • Processed cashew prices are expected to continue to rise in the coming period due to the increase in demand in the world market.

Market forecast

  • The raw cashew market is expected to continue to rise in price in the coming period.
  • Processed cashew prices are expected to continue to rise in the coming period

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Cashew Nut Prices Continue to Rise: High Demand, Limited Supply

Cashew nut prices on the global market have continued to rise this week, driven by strong buying demand from countries like the US, China, and the EU.

Specifically:

  • W320 increased from 2.70-2.75 USD/Lb to 2.80-2.85 USD/Lb.
  • W240 increased from 2.95-3.00 USD/Lb to 3.05-3.10 USD/Lb.
  • W210 increased from 3.25-3.30 USD/Lb to 3.35-3.40 USD/Lb.
  • W180 increased from 3.70-3.75 USD/Lb to 3.80-3.85 USD/Lb.
  • LP prices also increased slightly, ranging from 1.90-1.95 USD/Lb.

Factors driving up cashew nut prices:

  • Strong buying demand from countries like the US, China, and the EU. The demand for cashew nuts in these regions is always high and continues to grow, especially during holidays.
  • Limited supply due to weather and disease impacts. Cashew nut yields this year have decreased due to unfavorable weather conditions, and the COVID-19 pandemic has also made cashew nut harvesting and processing activities more difficult.
  • High freight rates. The cost of shipping cashews by sea has recently increased significantly, contributing to higher cashew nut prices.

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Forecast for the cashew nut market:

  • Many experts predict that cashew nut prices will continue to rise in the short term. Strong demand and limited supply will be the main factors supporting cashew nut prices.
  • However, cashew nut prices may be impacted to some extent by global economic fluctuations, changes in countries’ trade policies, and weather conditions.

To minimize risks and take advantage of market opportunities, Vietnamese cashew nut processors should:

  • Diversify export markets. Instead of just focusing on a few traditional markets, businesses should look for opportunities to export to new and potential markets.
  • Increase raw material reserves. Having a sufficient supply of raw materials will help businesses take the initiative in production and meet market demand when cashew nut prices increase.
  • Improve production and business efficiency. Applying advanced technologies, improving labor productivity, and reducing production costs will help businesses compete better in the market.

In addition to the efforts of businesses, the Vietnamese government also needs to have appropriate support policies to promote sustainable development of the cashew industry.

If you are looking for high-quality, healthy cashew nuts, come to CPT Corp. We are committed to providing you with the best products to meet your needs.

Contact Information:

HCM office Address: 191/6B Le Van Viet Street, Tang Nhon Phu A Ward, Thu Duc City, Ho Chi Minh City, Viet Nam

Factory Address: Nguyen Thai Hoc Street, Phuoc Tan Hamlet, Binh Tan Commune, Phu Rieng District, Binh Phuoc Province, Vietnam

Email: sales@cptcorp.vn

Website: cptcorp.vn

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