While the season is underway in West Africa with active trading and rising prices, Ivory Coast outperformed exports for both raw and kernel cashews in the first quarter of 2021 – According to experts of Nkalo. This result is partly due to poor harvests, low inventories and logistical problems while demand remains strong.
Export of raw cashew nuts increased by 96% compared to the first quarter of 2020, reaching 178,512 tons, of which Vietnam is the main customer with an output of 139,811 tons, up 113%, followed by India with 37,995 tons, up 57%. N'kalo also pointed out that many exporters this year have preferred to export by "bullet ships" over container exports to ensure goods are transported faster and avoid container shortages. and port jams.
While exports of raw cashews doubled, exports of kernels more than tripled to 4,850 tonnes (up 235%) in the first quarter of 2021 compared to the same period in 2021. This is an affirmative leap. the strong rise of Ivory Coast in the processing sector. Vietnam is also the first and largest customer with 1,461 tons, up 819%.
Nkalo believes that the demand for Ivory Coast's cashew kernels is still very strong at the moment as many kernel importers are trying to compensate for the delay of the Vietnamese crop with diversified supplies from West Africa. (A closer supply, shorter transit times and less affected by the current Asia region lack of containers” leads to strong competition between raw cashew exporters and processors. local in Ivory Coast.
Steve Huang – According to Commodafrica
