News from global cashew and walnut markets

Published Jul 12, 2024

Tridge summary

The cashew market is experiencing a supply-demand imbalance, with prices in Europe surging by 74% from April to mid-June due to a limited supply from major producers like Côte d'Ivoire and Vietnam, and high demand. The price increase has been corrected but still remains 42% higher than historic lows. In Côte d'Ivoire, a 14% harvest drop has led to an export suspension, while in Vietnam, production is expected to decrease by 20% to 320,000 tonnes.

Meanwhile, the US walnut market is also seeing a price increase due to strong demand, both domestically and internationally. The price of Chandler walnut has risen by 21% since mid-April, driven by a +20% increase in exports and the impact of tensions in the Chilean market, which is experiencing a disappointing 2024 harvest. This has made US walnuts more competitive in the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

CASHEW NUTS The cashew market is going through a phase of strong tension. From early April to mid-June, the European kernel price of W320 Vietnam increased by 74%, reaching the highest since August 2018, at over $9,600/t. Subsequently, a downward correction of 19% brought prices back below $8,000/t, which still remain 42% higher than the historic lows reached in April 2024. According to Areté's analyses, the marked upward trend it is attributable to a limited 2024 supply from the northern hemisphere, in a scenario of sustained demand. In Côte d'Ivoire, the main global producer, the harvest fell by 14% to 1.1 million tonnes, leading the government to suspend exports of raw material from the country from May to guarantee supplies to local processors. In Vietnam, the main processor and exporter of kernels, production, estimated to fall by 20% to 320,000 t, is fueling the country's import needs, necessary to satisfy foreign demand for kernels which, from the beginning of the year to ...

Source: Agricolae