Weekly Cashew Market Report (16/12 – 22/12/2024)

Market Overview in December 2024

December saw a significant increase in global cashew consumption driven by major holidays like Christmas and New Year. Key markets such as the U.S., Europe, and China maintained strong demand.

• WW320 Cashew Kernel Prices: Stable at $3.35 – $3.50/pound, supported by strong demand for value-added products in premium markets.

• Raw Cashew Prices in Vietnam: Fluctuated between 30,500 – 34,000 VND/kg, due to stable supply and rising domestic processing demand.

• Africa’s Position: Countries like Côte d’Ivoire and Ghana increased exports of processed cashew kernels, intensifying price and quality competition with Vietnamese cashews.

Market Forecast for January 2026

1. Demand in China

The Lunar New Year is expected to drive demand in China up by 18-22% compared to December. The focus will be on premium gift products such as organic cashews, roasted cashews, and other value-added items. Early indicators from purchase orders and customs data suggest steady growth in demand.

2. Raw Cashew Prices

Prices are projected to rise by 3-5%, primarily due to increased processing demand and persistently high international shipping costs.

3. Consumer Trends

• Organic Products: Growing in popularity in developed markets like Japan and Europe.

• Value-Added Products: Items like chocolate-coated cashews and special seasoned varieties remain top choices for consumers.

Strategies for Vietnamese Businesses

• Ensure Stable Supply: Maintain adequate raw material reserves to meet the rising demand in January.

• Focus on Value-Added Products: Strengthen marketing efforts for premium lines, particularly targeting China and neighboring Asian markets.

• Build Strategic Partnerships: Collaborate closely with partners to expand market reach and maintain competitive advantages.

SVC Cashew remains committed to delivering high-quality cashew products, meeting market demands, and maintaining its position in global markets.

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SVC INTERNATIONAL JSC
Email: thanh@svc.vn
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