DOUBLE DIP IN US...WILL IT EFFECT INDIAN INDUSTRY??

Double dip in US and chance to lower credit ratings in some European countries is causing worries in world market. Even though Finance Minister in India says recession wont effect Indian market, but sudden funds tight in Export- Import market is clearly visible.

Cashew Bills from foreign countries especially European and US stands pending, so traders and processors are facing tough time and pressure to release documents of Raw Cashew Nuts on correct time. Some cargoes which reached 10-15 days prior is getting released. Domestic cashew market is started volatile hearing market news, but Asian markets and off shore markets are offering better price for cashew kernels. Groups and top manufacturers already make their forward contracts at better prices. since its peak season coming in foreign countries processors are seeing good demand for cashew kernels however if recession hit hard it will slow down the demand thus the prices.

Raw cashew market is also at its peak level, but their is chance to small correction in Industry due to shortage of funds coming in market. However West African season almost end, few offers starts from Indonesia at 2100$ cnf for 54-56 lbs, Bissau offers are coming at 1800$ levels..but buying interst is low in market..highseas sale pressure is also reflected in market.

Hope the recession fear in world market will soon end and domestic festive and X'mas, new year bookings starts at its full pace..

Awaiting for comments

For Commodity Trade Centre
Sreejith k
Partner
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Email: sreejith@ctcentre.in
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www.ctcentre.in