Raw Cashew Nut Price
Understanding RCN pricing dynamics is essential amid a market valued at $8.14 billion in 2025, projected to reach $11.67 billion by 2033 at a 4.6% CAGR.
Raw Cashew Nut Pricing
Raw cashew nuts (RCN) form the backbone of the global cashew industry, with prices serving as a critical benchmark for processors, traders, and farmers. Pricing is typically quoted in two main categories: farm gate prices (what farmers receive directly at the source, often lower and reflective of local production costs) and CNF prices (Cost and Freight, the landed cost including shipping to the buyer’s port, higher due to logistics and export premiums). As of October 2025, global CNF prices for RCN range from $1,600-1,700 per ton, while farm gate prices in major African producers like Côte d’Ivoire hover around $0.50-0.80 per kg ($500-800 per ton). These distinctions are vital for cashew factories, as farm gate buys minimize costs but require direct sourcing, whereas CNF ensures reliability but adds 10-20% in freight.
Find trends from 2020-2025, projections for 2026, fluctuation drivers, hedging strategies, contract mechanics, and procurement advice for new entrants. With production spanning over 33 countries—led by Africa at 60% share—prices reflect regional disparities, from West African farm gates to Asian CNF imports. For processors, navigating these ensures 20-30% margins; let’s explore the data.
Historical Raw Cashew Nut Prices (2020-2025)
RCN prices from 2020-2025 illustrate a volatile trajectory, with farm gate prices generally 30-50% below CNF due to export logistics. In 2020, global CNF averaged $1,000-1,200 per ton amid COVID-19, while farm gate in India was $600-800 per ton and in Côte d’Ivoire $400-600 per ton. Prices bottomed in 2021 at $900-1,100 CNF ($500-700 farm gate in Africa), driven by oversupply.
Recovery in 2022 saw CNF at $1,000-1,200 per ton (farm gate $600-900 in Vietnam/India), stabilizing in 2023 at $1,065 CNF ($500-800 farm gate globally). 2024 maintained $1,065 CNF, with Ivory Coast farm gate at $590-960 per ton and Tanzania CNF at $1,700-1,815 per ton. By October 2025, CNF hit $1,600-1,700 per ton (farm gate $800-1,000 in major producers), a 60% spike from 2024 lows.
In India, domestic farm gate rose from ₹600/kg ($720/ton) in 2020 to ₹700-800/kg ($840-960/ton) in 2025, while CNF imports averaged $1,500/ton. African farm gates, per African Cashew Alliance insights, averaged $0.50-0.70/kg ($500-700/ton) in 2023-2024, with CNF to Vietnam at $1,200-1,500/ton. These trends underscore the farm gate-CNF gap, widening with freight costs (10-15%).
Year-by-Year Price Comparison Table (Farm Gate vs. CNF)
| Year | Global Farm Gate Avg. (USD/ton) | Global CNF Avg. (USD/ton) | Key Regional Examples |
|---|---|---|---|
| 2020 | 600-800 | 1,000-1,200 | India FG: 720; Côte d’Ivoire FG: 500; CNF Asia: 1,100 |
| 2021 | 500-700 | 900-1,100 | Africa FG: 550; Vietnam CNF: 1,000 |
| 2022 | 600-900 | 1,000-1,200 | Tanzania FG: 650; India CNF: 1,150 |
| 2023 | 500-800 | 1,065 | Benin FG: 600; Mozambique CNF: 1,200 |
| 2024 | 590-960 | 1,065 | Ghana FG: 700; Indonesia CNF: 1,500 |
| 2025 | 800-1,000 | 1,600-1,700 | Burkina Faso FG: 850; Global CNF: 1,650 |
Global Production Statistics by Country
Cashew production in 2025 totals 4.3 million metric tons (MT), up 17% from 2020, with Africa at 60% share per African Cashew Alliance data. Top producers include Côte d’Ivoire (1.15 million MT, 27% global), India (725,000 MT), Vietnam (320,000 MT), Benin (220,000 MT), Tanzania (425,000 MT), Indonesia (175,000 MT), Mozambique (165,000 MT), Burkina Faso (155,000 MT), Philippines (145,000 MT), Brazil (135,000 MT), Ghana (125,000 MT), Guinea-Bissau (125,000 MT), Nigeria (95,000 MT), Guinea (90,000 MT), and Mali (85,000 MT). Emerging: Burundi (150,000 MT), Cambodia (projected 800,000 MT by 2026), Senegal (50,000 MT), Kenya (40,000 MT), Nicaragua (30,000 MT), South Africa (20,000 MT).
Africa’s output (2.58 million MT) drives 70% of RCN exports, but low local processing (10%) inflates CNF prices. Asia (1.3 million MT) focuses on imports, while Latin America (200,000 MT) grows organically. Farm gate prices vary: $0.50/kg in Guinea-Bissau vs. $0.80/kg in Brazil.
Top 15 Producing Countries Table (2025 MT)
| Country | Production (MT) | % Global Share | Avg. Farm Gate Price (USD/kg) |
|---|---|---|---|
| Côte d’Ivoire | 1,150,000 | 27% | 0.50-0.70 |
| India | 725,000 | 17% | 0.72-0.96 |
| Vietnam | 320,000 | 7% | 0.60-0.80 |
| Tanzania | 425,000 | 10% | 0.65 |
| Benin | 220,000 | 5% | 0.59 |
| Indonesia | 175,000 | 4% | 0.70 |
| Mozambique | 165,000 | 4% | 0.68 |
| Burkina Faso | 155,000 | 4% | 0.85 |
| Philippines | 145,000 | 3% | 0.75 |
| Brazil | 135,000 | 3% | 0.80 |
| Ghana | 125,000 | 3% | 0.70 |
| Guinea-Bissau | 125,000 | 3% | 0.50-0.60 |
| Nigeria | 95,000 | 2% | 0.65 |
| Guinea | 90,000 | 2% | 0.55 |
| Mali | 85,000 | 2% | 0.60 |
Projected Raw Cashew Nut Prices for 2026
For 2026, RCN prices are forecasted at $1,700-1,900 per ton CNF globally, with farm gate at $900-1,100 per ton, per a 5.9% market CAGR. Africa’s projected 2.7 million MT output may ease farm gate to $0.60-0.80/kg in Côte d’Ivoire, but CNF to Vietnam could hit $1,800-2,000/ton due to processing bans. India’s farm gate may rise to $0.80-1.00/kg ($800-1,000/ton), with CNF imports at $1,900/ton.
Cambodia’s 800,000 MT projection could lower Asian farm gate to $0.70/kg. Overall, 5-10% increase expected, influenced by climate and trade.
Projected Price Comparison Chart
| Region/Country | 2025 Farm Gate (USD/ton) | 2026 Farm Gate Proj. (USD/ton) | 2025 CNF (USD/ton) | 2026 CNF Proj. (USD/ton) |
|---|---|---|---|---|
| Global | 800-1,000 | 900-1,100 | 1,600-1,700 | 1,700-1,900 |
| Côte d’Ivoire | 500-700 | 600-800 | 1,200-1,500 | 1,300-1,600 |
| India | 720-960 | 800-1,000 | 1,500-1,600 | 1,700-1,800 |
| Tanzania | 650 | 700 | 1,700-1,815 | 1,800-1,950 |
| Vietnam (Imports) | 600-800 | 700-900 | 1,500-1,600 | 1,700-1,800 |
| Brazil | 800 | 850 | 1,200-1,400 | 1,300-1,500 |
Reasons for Price Fluctuations in Recent Years
Fluctuations stem from supply disruptions and demand surges. 2020-2021 dips (farm gate $500-700/ton, CNF $900-1,100) resulted from COVID-19 lockdowns reducing processing in Vietnam/India by 50%. 2022 stabilization (CNF $1,000-1,200) followed demand recovery for snacks, but 2023 yields fell 10-20% in Africa due to droughts, lifting farm gate 7% in Côte d’Ivoire.
2024’s steady $1,065 CNF masked regional spikes, like Tanzania’s CNF at $1,815/ton from auctions. 2025’s 60% CNF surge to $1,600-1,700 (farm gate $800-1,000) arose from shortages (e.g., 50% rainfall deficit in Zanzibar), US tariffs (10% on imports), and African export bans (Benin from April 2025). In Ghana, farm gate floors rose 7%, per African Cashew Alliance. These events widened farm gate-CNF gaps to 40-50%.
Timeline of Key Fluctuations
| Year | Farm Gate Change | CNF Change | Main Reason |
|---|---|---|---|
| 2020 | Down 10% | Down 15% | COVID demand drop |
| 2021 | Down 20% | Down 10% | Oversupply in Africa |
| 2022 | Up 15% | Up 10% | Post-pandemic recovery |
| 2023 | Up 7% | Stable | Droughts in India/Africa |
| 2024 | Stable | Up 5% | Regional auctions (Tanzania) |
| 2025 | Up 30% | Up 60% | Shortages, tariffs, bans |
Factors Affecting Raw Cashew Nut Prices
Supply-demand imbalances dominate, with 4.3 million MT production in 2025 facing 10-20% yield losses from climate (droughts in Burkina Faso, floods in Mozambique). Farm gate prices respond to local incentives (e.g., Côte d’Ivoire’s 7% floor increase), while CNF includes freight (10-15% uplift).
Trade policies like Benin’s 2025 export ban raise CNF by 10-20%, per African Cashew Alliance. Quality (outturn 48-52 lbs/80kg bag, <10% moisture) adds premiums (5-15%). Demand from health trends (plant-based proteins) and tariffs (US 10%) push prices up. Labor costs (60% in Africa) and currency fluctuations (CFA vs. USD) affect farm gate.
For factories, these widen the farm gate-CNF spread, impacting procurement.
Factors Impact Table
| Factor | Farm Gate Impact | CNF Impact | Example |
|---|---|---|---|
| Supply-Demand | High (down in glut) | High (up in shortage) | 2025 shortages: +30% FG, +60% CNF |
| Climate | Medium (up in drought) | Medium (up) | Côte d’Ivoire 50% yield drop: +7% FG |
| Trade Policies | Low-Medium | High (up) | Benin ban: +10-20% CNF |
| Quality/Outturn | Medium (up for premium) | Medium (up) | High-grade: +5-15% both |
| Freight/Logistics | None | High (10-15%) | Africa to Vietnam: +$200/ton CNF |
How to Hedge Raw Cashew Nut Prices
Hedging shields factories from volatility, distinguishing farm gate (local contracts) and CNF (international forwards). For farm gate, fixed-price agreements with African co-ops lock $0.60-0.80/kg for 3-6 months, reducing risk 20%. CNF hedging uses futures on MCX ($1,500-1,700/ton) or options, covering 50-100 tons.
Diversify: 60% farm gate from India ($0.72/kg), 40% CNF from Tanzania ($1,700/ton). Forward contracts specify delivery (FOB/CIF), hedging 10% hikes. Inventory (1-2 months stock) buffers, though storage adds 5% cost.
New factories: Start with supplier fixes ($500 setup); scale to futures ($1,000-2,000/year).
Hedging Strategies Comparison
| Strategy | Farm Gate Suitability | CNF Suitability | Pros/Cons |
|---|---|---|---|
| Fixed Contracts | High (local co-ops) | Medium (importers) | Simple; less flexible if prices fall |
| Futures/Options | Low | High (exchanges) | Locks rates; fees (2-5%) |
| Diversification | High | High | Reduces risk; logistics costs |
| Inventory | Medium | Low | Natural buffer; spoilage risk |
International Sales Contracts for Raw Cashew Nuts (RCN)
RCN contracts standardize farm gate and CNF trades, specifying price basis (farm gate ex-farm, CNF landed). Key terms: Quantity (e.g., 100 tons), quality (outturn 48-52 lbs/80kg, moisture <10%, nut count 180-220/kg), price ($1,600/ton CNF or $0.70/kg farm gate), payment (LC 30% advance), delivery (FOB farm gate or CNF port, 30 days).
Inspections (SGS) verify; penalties (2% per defect %) apply. African Cashew Alliance templates include sustainability clauses (fairtrade premium $50/ton farm gate). Arbitration: ICC for CNF disputes.
For factories, farm gate contracts favor direct buys; CNF for reliability.
Key Contract Clauses Table
| Clause | Farm Gate Example | CNF Example | Purpose |
|---|---|---|---|
| Price Basis | $0.70/kg ex-farm | $1,600/ton landed | Clarifies delivery costs |
| Quality | Outturn 50 lbs/80kg | Moisture <10% | Ensures processor yield |
| Payment | TT 50% advance | LC full | Secures transaction |
| Delivery | Ex-farm within 7 days | CNF Abidjan, 30 days | Timelines logistics |
| Inspection | Local verifier | SGS third-party | Verifies compliance |
Advice for New Entrants in Cashew Processing: RCN Procurement and Pitfalls
New entrants should prioritize farm gate procurement for cost savings (30-40% below CNF), targeting co-ops in Ghana ($0.70/kg) or Mozambique ($0.68/kg). Strategy: Assess outturn (>48 lbs), use 3-6 month contracts, diversify (50% Africa farm gate, 50% Asia CNF at $1,500/ton).
Pitfalls: Low-quality RCN (moldy nuts, 20% waste)—avoid via samples/inspections ($100/load). Farm gate volatility (e.g., 7% rise in Côte d’Ivoire)—hedge with fixes. CNF overreliance adds freight risks (delays in Benin ports). Regulatory bans (Benin 2025)—source diversely. Overstocking ties capital; aim just-in-time.
Tips: Partner African Cashew Alliance for networks, budget 60% for RCN, start small (50 tons/month) for 25% ROI.
Procurement Pitfalls and Avoidance Table
| Pitfall | Farm Gate/CNF Impact | Avoidance Tip |
|---|---|---|
| Poor Quality | High waste (20%) | Pre-inspection samples |
| Volatility | Margin loss (15%) | Fixed contracts per basis |
| Shortages | Downtime (1 month) | Diversify sources |
| Logistics Delays | CNF +10% cost | FOB farm gate preference |
| Regulations | Export bans | Local co-op ties |
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