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According to traders, demand for cashews is likely to rise on the back of a sharp correction in almond prices. Buyers are thrilled to hold the market with reports of good harvests here in India and West Africa. Retailers expect strong consumption this year. Basic
Cashew ticket prices are down sharply from their 2011 peaks. Cashews are a favorite among snack consumers. “We plan to reach this level and look forward to an enjoyable year in the nut trade,” said Hari Krishnan R. Nair, Chairman of the Indian Council for the Promotion of Cashew Nuts. Prices for the W 320 reached $ 4.50 a pound in 2011, but fell to $ 3.40 in February 2012. Consumption of snacks in the United States fell 11% in 2011. Nut consumption actually increased by 2-3% per year. , He says. While the United States and Western Europe are still large markets, Western Asia has become India’s third largest export market. He added that other growing companies are the Mediterranean region, Eastern Europe and China.
Pankaj Sampat Samsons thinks she is flowingThis version has a lower utilization rate compared to 2011 due to high prices and our expectation to increase deliveries next year. Such deviations affect the philosophy of the market. Usage in Asia is easy to predict at current prices compared to 2011, he said. We believe that the total distance in 2012 cannot be less than in 2011. It can easily increase dramatically as external factors emerge, he said.
Several export documents for short-term shipments were released in February. But buyers are reluctant to grab hold of long-term documents due to the volatility of the market as a whole. They expect further correction levels, Hari Nair said. The offer should also be better this season. He added that the climate in India has been favorable and reports indicate that West Africa is likely to be better served.
Early April may be interesting, but no significant deals are reported when buyer’s ideas are at the bottom of the range. The Indian niche market was quite active, but not price rises as users are rewarded with little lies, as there is no setup problem, no pressure to stockpile and keep working – buy when needed, Pankaj Sampat exclaimed. In the 2010-11 fiscal year, India exported 91,559 tonnes of cashew nuts worth R2,598.