CASHEW MARKET NEWS 30.05.2024
The surge in cashew prices, driven by the Ivory Coast’s export ban and lower yields, is likely to lead to higher market prices and potential defaults by packers. This situation underscores the importance of staying informed on market updates to navigate the volatility effectively.
A domino effect caused by the Ivory Coast banning exports temporarily has caused cashew prices to surge. Until this is resolved we could see packers defaulting and high prices sticking around.
Shorter crops and low yields are impacting production costs and market stability. A jump in exports from Vietnam has fuelled global consumption for a number of months.
Source : Chelmerfoods
