The world cashew market remains weak, with reports of many Vietnam processors not taking deliveries of the imported cashew nuts in shell. However, there are signs we may have seen the bottom of the market already with a lot more recent activity from kernel buyers around the world.
For snacking cashew buyers (whole cashews), prices have dropped a lot since March/April. As much as USD 80c/lb.
For cashew pieces, prices have hardly moved since March/April so these have been effectively two separate markets.
The current whole kernel levels based on earlier booked in shell prices are a loss maker and have lead to some small and at least one medium to large packer declared bankrupt. Other packer has stopped processing in an effort not to lose any more money.
Again, there are signs that the market may not ease further, so the recommendation is not to wait too long and to take at least partial cover from more trustworthy suppliers.
For any specific enquiries, please call your nearest Scalzo branch.