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Cashew July 24, 2020

Demand for cashewnutkernels remains very good. The more attractive price is creating a healthy offtake and -especially March & April- have been extremely good off-take months. Whereas people had to stay home, we saw an increase in consumption during those months. Now consumer demand looks to be back at normal levels. With the current prices, supermarkets will be interested in special promotions again most probably and for the EU market also the current exchange rate of around 1,15  will help. Kernel prices are stable and did not move for the past 5-10 days. RCN prices are stable and are even going up, especially in Guinea Bissau and this could be the first sign of kernel prices going up as well. Therefore we recommend our buyers to take additional cover as far out as possible as we are at attractive -historically- low prices.