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  • Demand for cashew nuts in Europe and the US is expected to be weak

    Dec 29th, 2018

    According to the Export and Import Department, the US and European countries are in the period of many major holidays, cashew transactions are slower. Spot contracts and term contracts in January 2019 were implemented at the production stage, so demand for cashew is expected to be weak in the coming time.

    According to the Department of Import and Export (Ministry of Industry and Trade), 10 middle days of December 2018, world cashew prices are stable compared to the beginning of the month and compared with the date of November 20, 2018. Specifically, in India's Delhi port, on December 18, the price of the WW180 type was stable at the equivalent of $ 15.5 / kg. WW210 cashew nut price reached 13.9 USD / kg, cashew nuts of WW320 were priced at 10.5 USD / kg.

    According to the Import and Export Department, the US and European countries are in the period of many big holidays, cashew transactions are happening more slowly. Spot contracts and futures contracts in January 2019 were implemented at the production stage, so demand for cashews is expected to be weak in the coming time. Meanwhile, the supply of cashew nuts is supplemented when many producing countries step into the early harvest. Currently, countries in the harvest season include: Brazil, Tanzania, Indonesia, Benin, Mozambique and Kenya.

    The new cashew nut harvest in Vietnam will start from March 2019. According to the Vietnam Cashew Association, Tanzania has adjusted its forecast for the country's raw cashew production for the 2018 - 2019 crop year to increase from 220,000 tons to 275,000 tons. According to Reuters, Tanzania currently has 23 cashew processing plants, but only 8 factories are still operating. The Tanzanian government continues to prohibit the export of raw cashew in the 2018 - 2019 crop and is negotiating a joint venture with domestic and foreign companies involved in processing cashew inland.

    In contrast, according to the Vietnam Bank for Agriculture and Rural Development (Agribank), in India, the export of cashew nuts in 2018 is expected to fall below 70,000 tons, the lowest level in the last 25 years and lower. compared to 84,352 tons of cashew nuts exported in 2017. Cashew export price increased slightly in the first half of December According to the General Department of Customs, exports of the first 15 days of December reached 15,800 tons, worth 128.35 million USD, down 2.4% in volume and 0.5% in value compared to the first 15 days of November.

    From the beginning of the year to the end of December 15, cashew nut export reached 355,600 tons, worth 3.22 billion USD, up 5.4% in volume but decreased by 4.1% in value compared to the same period last year. The first half of December, the average export price of cashew nuts reached 8,109 USD / ton, up 2% compared to the first 15 days of November, but still down 20.7% compared to the same period in 2017. Accumulated from the beginning of the year recorded receive the average export price of cashew nut reached 9,061 USD / ton, down 9% compared to the same period in 2017.  


    Source: http://www.vinacas.com.vn/