In India, it is buyers market in higher grades because of the unpredictable raw nut situation. However, rainy weather has completely ended the cashew harvest in Maharashtra.
Speculators are now showing some buying interest in lower grades, splits and pieces.
Kernel imports have become very expensive on account of the duty hike and steep Rupee depreciation.
Indian cashew sector can take advantage of the approaching Ramadan festival as there is year on year increase in the consumption of higher grades during the Ramadan period.
Source: World Cashew