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Indian Cashew: Exports Fell by 38% In September and There Seems to Be No Hope for Bloom

by | Nov 16, 2022 | Cashew Kernels, Nuts

Indian cashew exports declined by 38% to $22,71 million in September 2022, declining for 11 consecutive months due to intensifying competition in the international markets. According to commerce ministry data, cashew exports have fallen since November last year.
Price
The W240 Cashew is currently being traded at $8845 per metric ton.
Current Scenario
There needs to be an incentive available to promote cashew exports, says Tukaram Prabhu, vice-president of the Cashew Manufacturers Association of Karnataka. Although there is a good demand in the global market, Indian cashew nuts are much better than Vietnam cashews. Cashew exporters from Kerala say domestic prices are 15% higher than export prices.
Future Scenario
Despite the recent slowdown, cashew sales have remained sluggish at lower prices. Only about one month is left for the cashew consumption season to begin, affecting the market sentiment. There is no possibility of a rise in cashew in the spot in the next one or two days.

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The post Indian Cashew: Exports Fell by 38% In September and There Seems to Be No Hope for Bloom appeared first on Commodity Board Europe GmbH.