Weekly Cashew Price Update – SVC Cashew

1. Domestic and International Cashew Price Update

• Domestic Cashew Price: In the first week of October 2024, domestic cashew prices remain stable in major growing regions such as Bình Phước, Gia Lai, and Đồng Nai. Currently, the purchasing price for raw cashews ranges from 28,000 to 35,000 VND/kg, depending on quality and type. Domestic companies like SVC Cashew continue to maintain competitive pricing to ensure stable exports.
• International Cashew Price: On the international market, cashew prices continue to rise slightly due to strong demand from major markets such as the U.S., Europe, and the Middle East. The price of WW320 cashews, one of the most popular types, has increased by around 2-3% compared to last week, hovering around 3.60 – 3.80 USD/lb.

2. Global Cashew Consumption Trends

• U.S. Market: Cashew consumption in the U.S. remains high, particularly due to the demand for healthy snacks. U.S. retailers are also preparing for the year-end holiday season, where demand for cashews as gifts and in traditional dishes increases significantly.
• European Market: European consumers continue to favor organic and premium processed cashew products. The demand for products like salted roasted cashews from Vietnam, including those from SVC Cashew, is rising in countries such as Germany and the Netherlands.

3. Factors Affecting Prices

• Shipping Costs: Over the past week, international shipping costs have slightly increased due to rising global fuel prices. This is putting pressure on the export prices of Vietnamese cashew businesses.
• Exchange Rate: The U.S. dollar’s appreciation against the VND has benefited Vietnamese exporters, allowing them to earn higher profits from international transactions.
• Supply and Weather: While the supply of cashews in Vietnam remains stable, climate change has caused minor disruptions in the harvest in major growing regions.

4. Forecast for the Upcoming Week

Experts predict that cashew prices will either remain steady or rise slightly in the coming week, driven by strong international demand and factors such as shipping costs and supply. Exporting companies, especially SVC Cashew, should continue to closely monitor the situation to adjust pricing and supply strategies accordingly.

Conclusion: The first week of October 2024 shows a slight increase in cashew prices due to high demand from major markets and supply chain factors. Vietnamese companies like SVC Cashew should closely track market developments to optimize their business and export strategies.

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SVC INTERNATIONAL JSC
Email: thanh@svc.vn
Phone: 090 943 24 77
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