W26: Cashew Update

In W26 in the cashew landscape, it was reported that cashew prices in India have experienced a downward trend attributed to low demand relative to production. In the past 45 days, cashew pieces dropped approximately USD 0.027/kg (INR 100/kg), while whole cashews have become cheaper by USD 0.011-0.014/kg (INR 40-50/kg). In W26, cashew pieces ranged at USD 0.12-0.15/kg (INR 450-550/kg), and whole cashews were priced between USD 0.18-0.23/kg (INR 650-850/kg) in the grocery and dry fruit market. Lastly, according to the General Department of Customs, Vietnam's cashew nut exports in May-23 reached 57.42 thousand tons, valued at USD 340.39 million. This represents an 11.7% increase in volume and an 11.4% increase in value compared to Apr-23 and a 15.1% increase in volume and an 11.7% increase in value compared to May-22. These figures mark the highest level of cashew exports since Jul-21. In the first five months of 2023, Vietnam exported 219.87 thousand tons of cashew nuts, worth USD 1.29 billion, indicating an 8.3% increase in volume and a 6.3% increase in value compared to the same period in 2023. The average export price of cashew nuts in May-23 was USD 5.92 thousand/ton, a 0.3% decrease compared to Apr-23 and a 2.9% decrease compared to May-22. The average export price for the first five months of 2023 was USD 5.88 thousand/ton, down 1.9% compared to the same period in 2022.