The cashew market is trading in a narrow range, with kernel prices moving a few cents either way, but the large grades are getting harder to find. W240 and bigger kernels, along with large pieces and splits, have become scarce, and their prices have gone up, Global Trading reports.
On the supply side, the new East African crop from Kenya and Mozambique is now trading. High-quality Tanzanian raw cashew nuts are selling at a premium that Global Trading says cannot last at today’s kernel prices, and only Indian processors can afford them, because most of their kernels go to India’s higher-paying domestic market. Concerns about El Niño’s effect on the Northern Hemisphere crop have led processors to hold back offers for Q2 2027 onward, and at the VINACAS conference in Vung Tau it was reported that little or no stock will carry over into the 2027 crop.
Demand still looks good. US imports are well ahead of last season, partly because there are no import duties now, after the 2025 duties hit imports hard. China is growing fast, and part of its demand is for higher-quality product that pays more, which is good news for Vietnam’s processing industry. Europe and the US are still growing, although both are now fairly mature markets.
Global Trading expects the cashew market to stay stable at today’s levels over the coming weeks.
Read the full tree nuts market analysis here.
