Latest cashew nut pricesThis article was originally published in Foodnews
CASHEW nut prices held steady in week 25, with W240s at USD3.15/lb, W320s between USD2.90-2.95/lb and W450s at USD2.75-2.80/lb and there was reasonable buying interest, according to a recent report from trading company, Samsons of Mumbai. It stated that raw cashew (RCN) was trading at USD900 per tonne for Ivory Coast product, while Guinea Bissau RCN was priced around USD1125/tonne c&f India. Kernel inventories are currently low both in importing and processing countries, and periodic tightness in supply was also predicted, due to slower conversion of RCN to kernel. If the major importing regions - the US and Europe - need to buy additional volume in the third quarter of the year for 2010 shipments, the current price range may be exceeded, the report said. However, if the economic situation causes retailers to manage sales within what they already have contracted, the market may continue to rise and fall periodically. "Prices dropping below the current range seems unlikely unless something dramatic like September/October 2008 happens again," the report concluded.