Nuts go up in price by 45%

THE cost of almonds, cashews and peanuts is soaring by up to 45% on the back of lower yields and rising global demand.

Cashews are hardest-hit after a 40% dip in production in Vietnam and Cambodia – which account for 25% of global supply.

Trade mag The Grocer said: “Vietnamese cashew prices have risen 45.1% year on year.” Peanuts are currently priced 27% higher in the EU than last year because of lower crop yields in the US and Argentina.

And while major almond producer California boosted production by 2.8%, it may not meet higher demand.