The cashew market is facing a supply-demand imbalance, with prices in Europe rising by 74% between April and mid-June due to a lack of supply from key suppliers such as Côte d'Ivoire and Vietnam, along with excessive demand. The price growth has been reversed, yet it remains 42% higher than historical lows. In Côte d'Ivoire, a 14% harvest loss has resulted in an export halt, while production in Vietnam is likely to fall by 20% to 320,000 tons.
Meanwhile, the US walnut market is also seeing a price increase due to strong demand, both domestically and internationally. The price of Chandler walnut has risen by 21% since mid-April, driven by a +20% increase in exports and the impact of tensions in the Chilean market, which is experiencing a disappointing 2024 harvest. This has made US walnuts more competitive in the market.
Source : SVC News