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  • Increased demand sends Indian cashew prices to record levels

    Jun 23rd, 2017

    Cashew kernel prices are trading high, despite reports of increased production in major producing countries, traders said. Cashew nut prices have hit the roof and have crossed $5 per pound touching historic levels of $5.35-5.50 a pound.India produces 6-7 million tonne of cashews per annum and was until recently the leading supplier of kernels to the global market. “Demand for cashew nuts seems to be robust despite a historic rise in prices. European retailers have increased their retail prices for cashews and consumption is still seen as good.

    Global demand for the kernel, which is a tree nut, has surged 53 % since 2010, outstripping production in at least four of the past seven years, according to the data reported by INC. According to market reports, the nut ingredients market, in terms of volume, is projected to grow at CAGR of 5.7% from 2014 to 2019.On the demand side, the US and the EU continue to be large buyers but they have been overtaken by Asia which is now the largest consuming region.