KOCHI, NOVEMBER 18:
The
cashew market, which showed some buoyancy from mid-August till
mid-October, is witnessing subdued activity. During the last three
weeks, prices have slipped by a few cents from large processors and more
from the small and medium processors.
According to trade sources, cashew continues to be the most reasonably priced nut moving in a relatively narrow range compared with other nuts.
Therefore
“it would be reasonable to expect prices to remain in this range and
maybe even move up a bit – depending on buyer behaviour,” Pankaj Sampat,
a Mumbai-based dealer, told BusinessLine.Highest levels traded
were W240 at $4.05-4.15 and W320 $3.60-3.70 per lb (fob). Offers/trades
during the last fortnight were in the range of W240 $3.75-3.95, W320
$3.40-3.55, W450 $3.30-3.45, SW320 $3.35-3.45, butts $3.10-3.25, splits
$2.95-3.05 and pieces $2.85-2.95 per lb (fob).
However,
for the time being, many buyers seem to be waiting to see how market
moves in coming weeks. But, some are still buying part of their requirements from reliable processors (even at higher levels).
RCN prices up
Raw
Cashew Nut (RCN) market moved up between August and mid-October, with
prices for West Africa RCN moving up from $1,150-1,250 to $1,350-1,550 a
tonne range. Tanzania RCN traded at around $1,600 c&f. During the last 2-3 weeks, this has come down to $1,425-50.
“If processors are not able to sell kernels at higher
prices, they may be slow in buying RCN which in turn might lead to some
reduction in prices, but reduction will not be much since availability
is limited due to a fall in Southern crop output, estimated to be less
than 25 per cent of world production,” Pankaj said.
“Although
we cannot be sure how market will move, especially in an uncertain
situation like we face at present, our feeling is that cashew kernel
market will remain in the range of $3.40-3.70 for next 3-4 months and
maybe more,” he said.
- The Hindu
Source: http://cashewnews.blogspot.com
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