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Cashew prices to stay high in the near term

posted Feb 26, 2011, 2:16 AM by NAVYUG Info
Cashew prices are at their historic highs, but with uncertainty prevailing in the global markets, especially in the Ivory Coast, buyers are unwilling to take big positions, despite demand and sellers are unwilling to stream the stocks to markets on account of dwindling supplies. 

The high-price scenario is expected to continue till March when produce from India and Vietnam hit the markets. Unseasonal rains in India and Vietnam have delayed harvests. 

Global Cashew trade volumes were at 5, 13,750 tons on Kernel basis in 2010 and Ivory Coast exports 4 lakh tons of raw cashews. 

Meanwhile, producers of value added cashew products from India are facing pressures on margins as the prices of RCN (Raw Cashew Nut) is climbing.