Same as last week, Vietnam Cashew Nut Shell Liquid (CNSL) slightly decreased to $440 CIF Busan while the local cashew oil kept unchanged thanks to the spot demand from CNSL exporters to fulfill the signed contracts with March shipments.
The week first came with a sharp drop in nut shell and just as last week, bearing nearly all the down value, the residue price was pushed deeply down to 1200 vnd/kg. However, when the nut shell price was stand still at 2400 vnd/kg, the residue kept stable for the whole week.
As informed in the previous report, the quality of Vietnamese and Cambodian crop quickly went down which made many kernel factories cope with big loss when considering with the kernel price. Therefore, they preferred halting production to wait for the reasonable price of raw cashew nut.