Cashew Trading Is Stable With Sight Rise In Price In The Beginning Of The Year

According to collaborators of VINACONEX in China, Chinese market after the Lunar New Year has lower inventories, especially in Dien Bach and Guangzhou provinces. Therefore, Chinese customers begin to buy more to serve the needs of New Year market, with stable transaction prices.

Cashew trading is stable with sight increase in price

European and North America markets have a number of spot transactions, mainly for WW240 and WW320 commodities. Some markets have the needs of distance transactions which will deliver April to June 2016. There was a slight increase in offering price and offering prices of in some codes are different depending on factory brand. Refer to cashew prices offered for the North American and market today: (Unit: USD /lb FOB Ho Chi Minh city): W240: 3.7 to 3.8; W320: 3.5-3.6; W450/SW/ LBW320: 3.3 to 3.4; DW: 3.2 to 3.25; WS/WB: 3.15 to 3.25; LP: 3.0 to 3.1.

According to collaborators of VINACONEX in Binh Phuoc, Dong Nai, Tay Ninh provinces and Cambodia, cashew crop in 2016 of Vietnam and Cambodia will come later this year than in previous years, within 15 - 20 more days to go from now.

Similar to Vietnam, as noted by collaborators of VINACONEX in Africa, cashew crop in West Africa will also arrive late and transaction price at the beginning of the crop will be high. However, both sellers and buyers are cautious this year because with the current price of more than 1400 USD/Mt. C & F Ho Chi Minh city for raw cashew from Ivory Coast OT 48 Lbs/80 kg, there will be a very high degree of risk.

Hung Nguyen

Source: vinacas.com.vn