Cashew prices have firmed by 4-5% over the last month as low availability of raw
cashew nuts (RCN) begins to affect the kernel market. Processors in Vietnam have been
eagerly awaiting fresh imports of RCN from Tanzania and Mozambique, as the southern
African crops have recently begun harvesting. Although a combination of delays and
temporary export bans have squeezed the market on supply out of these origins. Prices
will likely remain firm up until new crop in Vietnam, especially given China is still yet to
buy its full requirements for the Luna new year celebrations. Only a slow down in US and
European demand will help to ease prices, which hasn’t eventuated as yet.