Cashew Is to Be Bullish Until June

Cashew season has started in the Sindhudurgnagari district, and traders are buying cashew at nominal rates at the beginning of the season this year. As a result, a dismal start to the season has cast a pall over cashew growers. Given the changing weather, the cashew season has started this year. Cashew ripening has begun in Dodamarg, Sawantwadi, and Vengurla areas.

The low rate disappointed the planters

Cashew was expected to fetch at least $1,70-$1,82 per kg, but the low rate has disappointed the planters. Due to the purchase of cashew nuts from traders at low prices, the role of the Fruit Gardeners Association is now being noticed by all the gardeners.

Meanwhile, at the beginning of last year’s season, the rate of cashew nuts was $1,45 to $1,48. After that, the rate increased gradually. The cashew production costs $1,51 to 1,55 per kg. So a gardener can spend only if he gets at least $1,70. The present rates are harming the farmer’s interests.

Future Scenario

The quality of the cashew that is currently available is said to be a bit mild. During the last few days, much material has been disposed of quickly. Further, the new cashew nuts would arrive from some other places in Africa during the coming month of June. Overall, there is little hope of a long up-down before the arrival of new goods. Cashew is mainly produced in Mangalore, Tamil Nadu, Odisha, and Andhra Pradesh. Thus, market veterans opine that cashew will have a slow pace, but like last year, the prices may likely increase.

The cashew nuts W240 prices were recorded at $8,66 per kg FOB.

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