Indian cashew prices have remained stable between USD 6.75 to USD 8.00/kg over the past year due to global oversupply and weak demand. However, prices are expected to increase towards the end of 2023 and into early 2024 as global supply and demand rebalance. India is likely to continue its demand for lower-priced cashews from previous seasons for use as an ingredient in dishes. Meanwhile, Vietnam's rising exports suggest increased demand from the snack market, which could support higher prices in the cashew industry.
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