The global cashew market is experiencing a price surge due to a combination of increased demand and decreased supply. The decrease in supply is attributed to the effects of El Nino and limited investments due to low prices in recent years, leading to a reduction in production in some northern hemisphere countries, including Cambodia, which is projected to see a decline of 10-30% compared to 2023. Despite these challenges, global demand remains strong, as shown by record exports from Vietnam in the first quarter of 2024. The price of the W320 Vietnam kernel in Europe has also increased by 32% since April 1st, returning to levels seen in January 2022.