Cashew prices rocket as demand hits new high

Cashew nuts have soared in price because of increased demand and supply shortages, according to a report.

Market research has shown that wholesale prices of cashews rocketed to their highest level in more than five years.

Data from commodity analysts Mintec show that in 2015 cashews were one of the cheapest tree nuts on the market at $7.5 (£5.70) a kilo.

But prices rose to $11 (£8.45) during May in the wake of increasing popularity, tightening supplies and its versatility in alternative dairy drinks and protein bars.