Week 46 from 13 to 19 November 2017.
Continued the shortage signal of cashew nut shell supply when its price increased day by day during week 45, our extracting factories in Binh Phuoc province also alarmed of the nut shell collected less till the end of the week 46.
The export CNSL price was stable around $390 CIF Busan, not keeping up with the increase in nut shell price because of weak support from buying force. That prevents a surge in CNSL price.
While the price for CNSL was unchanged, the gain in nut shell price during the last 02 weeks was transferred into the gain in nut shell residue price. In fact, the price for residue has pushed up steadily for the whole week.
CNSL market is struggling. However, it seems the bull is taking advantage of the CNSL market because we have not seen the new shell supply to cover the shortage. Besides, the residue buyers will not accept for higher price for long. Actually, till the end of the week 46, the local raw CNSL (extracted oil) had a slight increase thanks to the demand from CNSL exporters who collected to fulfill their signed contracts. Moreover, during the end of the year, reportedly, the burning demand will burn up the CNSL price.