Sri. Giridhar Prabhu, Achal Cashews Private Limited,
Mangalore
Market has reached a subdued phase due to lack of
enquiries and interest in overseas markets. Exporters
with positions could be comfortable. There is a natural
phase during the second quarter of the year when
myriad exporters have to deal with large amount of raw
cashews and contend with arrivals from West Africa.
The apparent news on worries in Europe and problems
in OECD countries on growth with threats of
recession and macroeconomic problems creates a
negative feeling for an item like cashews. On the
other hand raw material prices which keep going
up, costs which escalate in developing countries,
logistics diffi culties, quality problems do
not permit any drastic reduction in kernel prices
which is usually a stimulant for consumption.
Prices are likely to be stagnant for next six weeks
unless a major processor or buying nation enters
the spot market and wipes off the existing
material and triggers an enthusiasm for price.
In Mangalore, speculative sales for next month have
already begun from high quality sellers. This creates
a position for the future and apparently manufacturers
of good quality are literally sold out for next ten
days. Brokens are in heavy shortage, especially splits.
Demand is there apparently from W 180 to Baby Bits.
RCN is in demand, especially good quality. Overall,
rainfall is cheerful all over India with a very good distribution.
Therefore, the perception of drought disappears
and irrigation and electricity dams are getting
infl ows. If rainfall distribution is good and rains get copious
where they ought to be the Indian economy will
expand overall with a possibility of growth of over 6 to
8 per cent from agriculture, which has eluded India.
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