Global Nuts Market Weekly Summary

• India's cashew market is under strain from two converging pressures: weak kernel demand and a rupee at a historic low against the U.S. dollar, which is elevating the cost of imported raw cashew nuts. Import prices from Tanzania stand at USD 1.91 per kilogram, while Mozambique supplies are priced between USD 1.60 and 1.62 per kilogram. International raw cashew nut offers remain elevated, exceeding USD 1,500 per metric ton. Some price relief emerged in early April following new shipments from Cote d'Ivoire, Burkina Faso, and Cambodia. February 2026 exports reached nearly 2,700 metric tons, with traders looking to demand signals from China and the Middle East to provide clearer direction on the market's near-term trajectory.
• Vietnam's cashew processing sector is contending with declining kernel quality despite easing prices. The persistent gap between high raw cashew nut input costs and lower processed kernel values is shaping buyer behavior, with roasters and processors gravitating toward premium grades (W3 and W240) even at higher bid levels. The subpar quality of early West African imports has further constrained high-grade kernel availability, keeping the market steady but cautious.
• Following market access for exporters from March 25, 2026, a tight procurement window resulted in local processors securing between 530,000 and 550,000 metric tons of raw cashew nuts. Harvests are progressing, though on-farm stockholding has diminished as farmers, facing urgent cash needs, are selling immediately after collection. Yields are below last year's levels. Wholesale prices are ranging between USD 0.72 and 0.75 per kilogram, with factory gate prices between USD 0.82 and 0.87 per kilogram, reflecting active competition among processors.
• The April influx of raw cashew nuts from West Africa and Cambodia initially pushed prices lower, but persistently high international raw material costs above USD 1,500 per metric ton have maintained an unfavorable spread between input costs and kernel values. Quality issues in Vietnam and weak kernel demand in India are reinforcing careful purchasing strategies across the supply chain. The market's next directional move will hinge largely on whether demand from China and the Middle East strengthens sufficiently to rebalance kernel pricing.