India: Cashew Market Expected To Move Up

Current Scenario

Last month the price of dry fruit was steady across the month. However, recently the price fell for all the varieties.

It is believed that the demand for dry fruit is not that high in the market currently. Despite the lower production and low demand for the product in the market, the price has been stable. The last time the price for cashew increased was recorded in the last week of February 2022.

One of the major factors likely to push the market upward for cashew is increased demand post-Ramadan for Eid.

It remains unpredictable how the market will fare for the dry fruits in the coming days. Currently, the import of raw cashews from African countries to India is more diminutive. The reason is that the Russia – Ukraine war has increased the crude oil price, affecting the freight prices and availability of containers.

Prediction

The cashew price is expected to increase in the coming days as per market experts. However, with the decrease in the import of raw cashew, the Indian variety available in limited quantity will help the market move up in the coming days. As per reports, there can be a significant price increase for the dry fruit in the future and move towards a bullish mode.

Price Trend

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