What are the prospects for the global cashew market in 2024?

Published Jan 12, 2024

Tridge summary

Samsons Traders expects the cashew market to remain stable in 2024, with no significant price increase unless there is a major incident on supply, though prices may be slightly higher than in 2023. The current price range for cashew kernels from Vietnam is between $2.45 and $2.60 FOB, and there are concerns about the impact of El Niño on the 2024 harvests in Vietnam and Cambodia. On the consumption side, there is a reasonable possibility of an increase, and processing in West Africa is expected to continue to increase with the creation of several new factories in 2024 and 2025.

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

Original content

The cashew market is expected to be generally stable during 2024, estimates Samsons Traders – American supplier of cashews, walnuts, peanuts, sesame seeds and spices – in its latest report. Barring a major incident on supply, no significant price increase is expected. However, observes Samsons Traders, “I have a strong feeling that prices in 2024 will be slightly higher than the lows we saw in the second and third quarters of 2023.” The current price range is between $2.45 and $2.60 FOB for cashew kernels from Vietnam and 10 to 20 cents more for the African supply. A price range last in effect in 2019. On the supply side, Samson Traders does not expect a significant increase short term. “On the contrary, there are some concerns about the impact of El Niño on the 2024 harvests, particularly in Vietnam and Cambodia,” he adds. On the consumption side, there is a reasonable ...

Source: Commodafrica