Weekly Cashew Market Report (Week 2, November 2024)

This week’s cashew market update provides insights into current pricing trends and consumption patterns affecting the industry. The cashew market remains dynamic, influenced by both global and local factors, including seasonal demand, supply chain shifts, and currency fluctuations.

Current Price Trends

In the second week of November 2024, cashew prices have shown a slight increase in response to rising demand from key markets such as the U.S. and Europe, where retailers are preparing for the upcoming holiday season. Prices for raw cashew nuts (RCN) remain steady, though regional variations are noted based on quality and processing location. In Binh Phuoc, Vietnam’s cashew hub, raw cashew prices range between 30,000-35,000 VND/kg, while processed kernels are seeing higher prices due to export demands.

Consumption Trends

Demand for cashews continues to grow globally, especially with the approaching holidays. The health benefits of cashews, including high protein and healthy fats, drive their popularity among consumers. Both the U.S. and European markets have reported increased forward buying, with buyers securing stocks for year-end sales. In Asia, demand is expected to rise as well, particularly in China and India, where cashews are popular during festivals and celebrations.

Market Dynamics

The industry is currently observing impacts from logistical challenges and exchange rate fluctuations, which affect export costs and delivery times. Despite these challenges, Vietnamese cashew exporters maintain a strong position in global markets thanks to competitive pricing and high-quality products. Companies like SVC Cashew are actively managing supply to ensure stability and meet international standards.

Outlook

With holiday demand rising, prices are expected to remain firm in the coming weeks. Suppliers are advised to monitor market shifts closely, especially as international demand may drive price increases. Exporters focusing on quality and consistent supply will likely benefit the most from current market conditions.

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