For the Quarter Ending September 2025
North America
• In the United States, the Cashew Price Index rose quarter-over-quarter in Q3 2025, driven by robust retail sales and rising input costs.
• Cashew production costs increased, influenced by a 2.6 percent Producer Price Index rise in August 2025.
• Demand for cashews was supported by a 5.42 percent year-over-year retail sales increase in September 2025.
• The 3.0 percent Consumer Price Index increase in September 2025 indicated inflation, impacting cashew retail prices.
• A stable unemployment rate of 4.3 percent in September 2025 supported consumer purchasing power for food items.
• Declining consumer confidence to 94.2 in September 2025 suggested reduced discretionary spending on premium foods.
• Sluggish industrial production, up 0.1 percent in September 2025, indirectly affected overall consumer income.
• Input and raw material costs generally increased in Q3 2025, adding to cashew production cost pressures.
Why did the price of Cashew change in September 2025 in North America?
• Rising input costs, pressured cashew prices upward.
• Robust consumer spending, retail sales up 5.42 percent in September 2025, supported strong cashew demand.
• Ongoing inflation, CPI up 3.0 percent in September 2025, contributed to higher retail cashew prices.
APAC
• In China, the Cashew Price Index remained stable to slightly fell quarter-over-quarter in Q3 2025, influenced by deflationary pressures in September.
• Cashew demand outlook was mixed; retail sales grew 3.0% in September 2025, supporting edible nuts consumption.
• However, consumer confidence at 89.6 in September 2025 remained pessimistic, dampening discretionary spending on premium snacks.
• Industrial production expanded 6.5% in September 2025, providing bullish support for Cashew Nutshell Liquid (CNSL) derivatives.
• The Manufacturing Index contracted in September 2025, indicating reduced industrial demand for raw materials like CNSL derivatives.
• Cashew production costs faced upward pressure from strengthened input cost inflation for broader manufacturing in September 2025.
• Global raw cashew nut production experienced a slight contraction for the 2025/26 season, impacting feedstock availability.
• China's total trade volumes increased in September 2025, with strengthening exports and imports, affecting overall market flows.
Why did the price of Cashew change in September 2025 in APAC?
• Deflationary pressures, with CPI at -0.3% in September 2025, impacted demand.
• Manufacturing Index contracted in September 2025, reducing industrial demand for CNSL derivatives.
• Pessimistic consumer confidence at 89.6 in September 2025 dampened spending on edible cashews.
Europe
• In Germany, the Cashew Price Index remained stable quarter-over-quarter in Q3 2025, influenced by mixed macroeconomic signals.
• Cashew production costs faced pressure from elevated operating expenses in Q3 2025.
• Demand for Cashew Nut Shell Liquid (CNSL) increased across automotive, construction, and electronics sectors during Q3 2025.
• Industrial production declined by 1.0% year-over-year in September 2025, impacting overall industrial cashew demand.
• The Manufacturing Index contracted in Q3 2025, signaling reduced industrial output and raw material consumption.
• Consumer purchasing power was reduced by a 2.4% year-over-year CPI increase in September 2025, affecting direct cashew consumption.
• Raw input availability for broken-grade cashews tightened in African and Asian sources during Q3 2025.
• Retail sales showed modest 0.2% year-over-year growth in September 2025, indicating stable consumer spending on food items.
Why did the price of Cashew change in September 2025 in Europe?
• Consumer purchasing power was reduced by a 2.4% CPI increase in September 2025, dampening discretionary demand.
• Lower producer prices, down 1.7% in September 2025, offered some relief to cashew processing costs.
• Industrial production declined by 1.0% in September 2025, reducing demand from food processing industries.
