Just before they embark on a trip to Vietnam, Michael and Sanjoy look at the latest on cashews and almonds.
Cashews
– Prices stabilise, and a lot of the cheaper offers been taken off the market after a year of seeing prices high
– We have see cheaper offers in the market every 2-3 months, particularly from Vietnam. The reason is because of smaller shippers with tighter cash-flow who have to turn their stock into money, get some sales to bring the market down. Stock is going.
– Hardly any pressure from India due to high domestic market
– Price hasn’t gone under $3.30 last 12 months.
Almonds
– There are no cheaper sellers, as they are all loaded
– 90% of stocks coming from one place, California, and less pressure compared to Vietnamese cashew suppliers, as they have plenty of stock, and are richer with much better cash flow
– Shipments were down this month, and in August and September.
– Problems in Dubai as over 80 containers are stuck there- $30-40 million dollars stuck.
– Demand continues to be low, as huge volatility continues with the currency and the El Nino, nicknamed ‘Bruce Lee’ is lurking in the shadows…
