Indian Cashew Prices Remain Stable in January

The Indian Cashew market remained stable in January 2022 for all its varieties. As per reports, the Indian cashew crop and other major cashew-producing countries like Vietnam and Ivory Coast are developing well.

It has also been reported that good weather is likely to affect the crop’s yield positively. In Vietnam, the yield is expected to increase from 1.5 mt per hectare last year to 2.5 mt per hectare this year if the weather remains good for the next four weeks.

Ivory Coast has also been reported to have regular rainfall, and the weather is good for the standing crop. The harvesting process has started in the country, and despite having limited production, the crop quality is good.

 Market Overview 

• Last year, despite the lows in the Cashew market in India due to the Covid-19 restrictions during the festive season, the market picked up.
• The situation has been the same for Vietnam’s Cashew market with an increase in importing with a record of 3,149,865 mt of RCN and 88,203 mt of kernels. This brings the total import to 3.5 million MT of Cashew for 2021.
• There was also a record number of exports of cashew kernels done by Vietnam, which was about 609,260 mt.
• The import of Cashew from the EU countries and the US is currently at a standstill. According to experts, however, the decrease in the import activity from these places during the first months of the year is not new.
• The roasters are busy for the next four to six months of 2022.
• The scenario of how the countries open up for business now remains to be seen since both the EU and America currently have ample stock in the ports.
• It is also believed that the discrepancy between the RCN and kernel prices is also causing the low activity in the market.
• The freight crisis continues, which is also is plaguing the industry.
• In January, Vietnam exported 106,868 mt to the US, which is 9 percent more than last year during the same period.
• China reported having imported 64,324 mt from Vietnam between January to December, which is 3 percent more than 2020 during the same time.
• EU and other countries imported a total of 384,067 mt between January and December 2021, which is 24 percent higher than 2020 during the same time.

 Price In India

 W240

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