Cashew nut prices zoom on crop shortfall in Vietnam, Cambodia

A shortfall of around 40% in the cashew nut crop in Vietnam and Cambodia has boosted market sentiments. Prices are at a historic high and demand seems to be still resilient. Cashew nut prices have hit the roof and seem to be on a sustained rally due to crop shortfall in Vietnam and Cambodia. Market prices have crossed $5 per pound and touched a record high of $5.35-5.50. India produces 6-7 million tonne raw cashew per annum and was till recently the leading supplier of kernels to the global markets. In the last 18 months, cashew rates have gone up $3.55-3.70 to $5.00- 5.10 – a gradual rise of over 35%. During these 18 months, each spurt has ended at a higher level. Raw cashews are priced higher – about 30% compared to the same time last year – and are at 10% high since the beginning of the 2017 season.