The market on cashews are still eerily quiet. With all the news breaking from California about the temperature, moisture, bees, etc... Cashew is being ignored like a middle child at a family reunion.
"With cashews now the lowest priced tree nut in the market(other than peanuts), this could lead to some good support during the summer months. Despite the fact that trading has been very quiet for cashews over the past four months, the prices have not weakened.
In fact, they have recently risen slightly due to the high price of raw seeds in Tanzania and Indonesia. The biggest Northern Hemisphere crops are expected shortly in Vietnam, India and West Africa. So far, we have not heard anything disastrous to offset the market market. However, as the raw seed availability is so tight nearby, there will likely be good support at the start of the crops so prices for seeds are very likely to remain firm at least until end of Q2."
With the prices on the comparable nuts being so high(this means you, almonds, walnuts, pistachios, etc...)We don't see kernel consumption dropping as a result of current prices. It is highly unlikely that we will see lower kernel prices anytime soon.
(Quotes from Mr. Mark Gravette, Barrow Lane and Ballard, UK)