RCN supply from West Africa continues to be normal and 1.6 million MT raw material supply is expected to flow by end of August. Tanzania’s situation looks likely to resolve in the next few weeks and supply will keep the prices stable. For the last month RCN prices have been stable at 1,100 USD/MT (for IVC 45 KoR)..
With stable lower prices of RCN, exports of processed cashew kernel from Vietnam have been highest for the January-Ju-ly period and may pass 24,000 FCLs for the full year. This reflects good demand for cashew amongst all nuts and should keep the markets stable. For the last month, the prices have been 3.35-3.45 USD/lbs. (for W320 FoB) and industry expec-tation is that prices will remain range bound for next 2-3 months at 3.30-3.60 USD/lbs.