Can cashew prices recover in 2021 in India?

Published 2021년 3월 18일

Tridge summary

The Agro-Processing and Market Development Bureau in India has reported a surge of interest from cashew buyers for long-term supply contracts, particularly for split cashews and large fragments. This comes as a result of an anticipated increase in the price of cashew kernel due to a decrease in supply from Vietnam and high prices of raw cashews. The cashew nut price forecast for 2021 is expected to recover after a drop in 2020. Vietnam's cashew exports, which primarily consist of W320 and W240 cashews, have experienced a decline at the beginning of the year due to holiday seasons in Western countries and the impact of the SARS-CoV-2 virus variant. However, exports of W450 and W180 cashews are projected to increase. In Vietnam, the price of raw material remained stable after the Lunar New Year.

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

Original content

Summer in India is coming in some southern states, according to the Agro-Processing and Market Development Bureau. Cashew buyers are showing interest in long term supply contracts, especially for split cashews and large fragments. The price of cashew kernel is forecasted to increase in the near future because the supply of cashew nuts in Vietnam is not much while the price of raw cashew is still high, not balanced with the price of cashew kernel. In addition to the advantage of the implementation of trade agreements, cashew nut price forecast in 2021 is likely to recover as the price in 2020 has dropped to a low level. The volume of cashew nuts exported in February is estimated at 30 thousand tons with a value of $ 174 million, bringing the volume of cashew exports in the first 2 months of 2021 to 75 thousand tons and 442 million USD, up 46.1% in volume and increase 21.5% in value over the same period in 2020. The Import-Export Department said that according to the cyclical ...

Source: Vietnambiz