Weekly Cashew Market Update (December 16 – 22, 2024)

Price Updates

• U.S. Market: Prices for WW320 cashew kernels remain stable at $3.35 – $3.40 per pound, reflecting strong consumer demand during the holiday season.

• European Market: Export prices average $7,400 – $7,700 per ton FOB, driven by increased purchasing activities from importers in Germany and France.

• Vietnam’s Domestic Market: Raw cashew nut prices are currently between 30,000 – 33,500 VND/kg, maintaining stability thanks to rising domestic processing demand.

Consumption Trends

• Strong Growth During the Holiday Season: Processed products like salted roasted cashews and chocolate-coated kernels continue to dominate in major markets, especially in the U.S. and Europe.

• Asian Market: China is ramping up imports to prepare for Lunar New Year celebrations, which is expected to drive cashew prices higher in the coming weeks.

Key Impacts

• Logistics Costs: Slight increases in sea freight costs continue to exert pressure on export prices.

• International Competition: African countries like Côte d’Ivoire are expanding exports of processed cashew kernels, intensifying competition for Vietnamese cashews.

Forecast

In the coming week, cashew prices are expected to rise slightly due to strong holiday demand, particularly in major markets such as the U.S. and Europe. Businesses should closely monitor influencing factors to optimize profits.

Source: Compiled from market reports and SVC Cashew internal data.

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