PTV CNSL Vietnam Market Review.
Week 50 from 11 to 17 December 2017
#VietnamCNSL #CNSL #Cashewnutshellliquid #CNSO #ptvcnsl
CNSL export price was reported at $415 CIF Incheon but with small volume. Cashew oil price kept increasing thanks to Cardanol producers, same as last week. CNSL exporters were struggling to fulfill their signed contracts and that made the situation worse for themselves. Worrying the CNSL rare as the result of the nut shell supply shortage, the CNSL exporters were reluctant to offer CNSL with big volume.
As we have reported in previous brief market review, due to the high price of nut shell, to cover the loss, the extracting factories had to increase the residue price. Now, when the residue price reached 1600 vnd/kg and no room to increase higher, then it put the pressure on cashew oil price to increase.
In India, CNSL price sharply increased to around INR 24 per kg against previous week traded price of INR 22.50 per kg thanks to the good demand for CNSL from furnace oil companies and because shells were scarce at INR 8.70 per kg and cake was at around INR 6.80 per kg. Reportedly, Ockhi storm hit Kanya Kumari and paralyzed shelling activities in southern Tamil Nadu.