2011 is ending so as the hope in cashew industry..its hardly few exporters / importers who have not burnt their hands.. 2011 seems to be the reverse of 2010..but most experts believe that the changes in prices is just a correction that happens to the industry.. as per our teams review just by seeing the 2010 trends lots of traders who have not any sound financial capacity entered into raw cashew trading..then it created like a bubble which can burst at any time..these traders even not have the capacity to release the consignments then the exporters again being into trouble..thus the chain of money circulation in industry break down. Trouble from vietnam processors also affected the industry very much, even the LC from various banks got cancelled, that also troubled the shippers.
nearly 20- 25% changes in RCN price happen this season. IVC 44-45 lbs is available in the market at 950$ per mt, bissau at 1300$ for 52 lbs ready cargo , CDJKL origin which was started at 1700+ levels now come down to 1375 $ levels..but now the importers are reluctant to buy in huge volume..day by day fluctuations in currency
rate is adding concern to the industry..Industry is expecting government will take any firm action to control exchange rate..
kernel Price levels were more or less unchanged at around $4 for W240; $3.75 - 3.80$ for W320, Industry is expecting some activity to be happen in month of Feb 2012 as new year celebration in china starts.. Europe and US remain weak economy..not much movement happen for X'mas, thanks giving and new year purchases..Hope Before London Olympics market will show some movement.
As the year ends, we think about all we are grateful for. Our relationship with you is one thing we treasure. Thank you for the opportunity to serve you. We wish you much success in the new year.
appreciating your valuable comments
warm regards
Sreejith k
Commodity Trade Centre
Kollam, India
+91 9539000599
skpype: sreejtih125
Email: sreejtih@ctcentre.in
www.ctcentre.in
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