June 22nd, 2013
Coming months may not bring cheers to the West African cashew sector. When the industry is already reeling under huge financial pressure, importers from Vietnam, India and Brazil are suffering further losses in their recent purchases. The losses are due to price factor, quality factor and weight shortage.
But more than 12% depreciation in the Brazilian Real and around 6-8% depreciation in the Indian Rupee is not a small loss of this kind.
It is nothing but a disaster for the Brazilian and Indian cashew industry. Only the Kernel market can change the situation.
Source: World Cashew