| As written in our previous reports as well, the import tariffs into the US market still have an impact. Buyers are reluctant to cover far forward as decision can change overnight and change the market sentiment. Supply: The norther hemisphere crops are all in now. Processors covered most of their purchases and buying remaining required quantities hand to mouth to follow the kernel market. Some stocks left in West Africa which most probably will be carried forward into next crop. Tanzanian crop will become available in 6-8 weeks from now and first indications are that the crop is good/very good and might give a bit of relief to the RCN market although most of the Tanzanian product usually moves to India because of their good quality and Indian processors able to pay higher prices. Demand: remains OK for EU and some reluctance in US. China is picking up very well and helping the cashew industry to move forward. Buyers are coming back from their summer holidays and it is expected that demand will pick up in the weeks ahead of buyers filling the gaps for the end of the year sales. This might cause some increase of prices for spot available product and the gap between shipment prices and spot prices might widen a bit. We would recommend to cover your positions until the end of the year and probably for a certain percentage into Q1, 2026 but be patient for further forward as northern hemisphere crops will become available from February/March onwards. |
