Monday, September 17, 2007

Weekly Cashew Update
Sep 15, 2007
Cashew market continued to be quiet – last week there were some sales of W320 from India at lower levels but this week not much activity reported. Prices are steady – around 2.65 for W240, around 2.25 for W320, around 2.15 for W450.. There were reports of sales from Vietnam at lower levels – mainly for FH 2008 shipments but some for end 2007 as well
RCN prices in Indonesia are high for early shipments but doubt whether these are sustainable with current kernel prices.. No news from Tanzania about Government / Board policy on pricing, levies, taxes - it seems crop will be normal
Brazil is expecting a good crop but this has still not resulted in any selling pressure - clearer picture should be available by mid Oct when arrivals are in full swing
In next few weeks, there might be some good demand for spot / nearby shipments but not certain whether this will translate into contracting for next year at higher levels.. Traders may decide to buy only what they absolutely need to fulfill delivery commitments and wait for dips in market to cover forward positions.
Overall demand growth seems to be steady… unless there is big jump in demand or shortage in supply (either of which could lead to change in sentiment) we expect market to stabilise around current levels with usual periodic spurts and dips
Would appreciate comments on market situation, any info on demand trends & your views on demand prospects, prices in your market and any other news or info
Pankaj N. Sampat
Mumbai India

1 comment:

spookyva said...

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