Cashew prices on the Indian market in the past week thanks to strong buying activity from the vibrant retail and reserves, in the context of very limited inventory. Supply reduction in planted area that is backed by rapid price recovery
It's 180, 210, 240 and 320 price increase of 5 rupees version 1.7.2012 to turn each 660-680 crore, Rs 600-620, 550-590 and 520-560 crore rupees per kg. This phenomenon of price increase is considered abnormal and will not last long. The export of cashew receive reduced price of crude in 2012 by the merchant should have enough raw material reserves to wait until the new harvest in East Africa.
Chairman Export Promotion India, Article, R. Hari Krishnan Nair, said the price of crude did not rise when the civil war in Ivory Coast ended in May. Ivory Coast has always been the largest provider of crude processing for India, followed by Benin and Tanzania.
Three African countries it exports totaling 300,000 tonnes of raw cashew to India, worth 16.33 billion rupees. India imported a total of over 500,000 tons of crude, worth 24.79 billion rupees in 2010-11. Export of cashew kernels from India increased nearly 60% in volume 4-8/2011 month period, up 65,510 tons, 41,395 tons from the same period in 2010. Export value rose to 17.37 billion rupees, up 56% over the same period the previous year. Rates of past year's average of $ 4.50 / lb, but dropped out only $ 3.5.