The market for cashewnutkernels, as for other treenuts

A lot of buyers in Europe and US are enjoying their well deserved summer break and demand is slow. The supply from West Africa is more or less finished with last noticeable shipments afloat to processing countries as India and Vietnam. The quality of the lots still in store in producing origins is deteriorating and recommendation to traders and shippers is to get it out as soon as possible. The unknown supplier of RCN is Tanzania. There are rumors in the market that a significant share of their 2018 crop is sold to some big traders/processors. If so, this would really help Tanzania to get prepared for the 2019 crop which will be available in just 2-3 month’s. As written above, the demand is slow. Buyers are covering their shorts for the nearby and last quarter of 2019. In our opinion it is recommendable to get cover for the remaining part of 2019 and first quarter of 2020. Chances of a sharp price decrease are limited and chances of price increases are there as we are entering the busy period after summer with increasing consumer interest in US, Europe, India and China because of the festivals and end of the year holidays.

 

Source : https://www.globaltrading.nl/news-slug/cashew-july-15-2019/

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