"Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion"
2012 season seems to be mixed response for cashew people... even small loss in later part processors/traders tried to highlight to further and forgot the profit they made in initial stages..they forgot the basic theory once the market is bubbled it had to be burst at some point of time.. same situation happens last year and this year too..In rcn when the season starts IVC/GNANA/BENIN traders make decent profit of those consignments shipped on proper time..but later news of quality and quantity shortage affected the market.seeing the market movement on higher side many contract cancellations and late shipments happen from shippers side against the the contract cancellation by importers last year when market become down..this type of playings happening in each market which affecting the market balance. the news from Bissau and gambia had bubbled rcn market to new heights provided exchange rate at peak, but later we seen 15-20% decline in prices. those who make the smart moves in begining had suceeded.
Prices for RCN for various origins now are as follows
Senegal / Gambia. oct/nov contract 49-50 lbs, 220 nuts at 950 usd cnf cochin/tuticorin
Bissau oct /nov shipments 52 lbs, 220 nuts at 1100 usd cnf cochin/tuticorin
ghana oct/nov shipments 45 lbs at 825 usd cnf cochin/tuticorin
Indonesia oct /nov shipments 52lbs at 1325 usd cnf cochin/tuticorin
market is waiting for news from upcoming CDJKL and Tnazania, but news coming old crop around 10000mt still pending in tanzania.
Cashew kernels markets also seen mixed response this year. fluctuations in exchange rate seems to influence the profitability, but US and European market not showed much interst this season, even forward bookings are very few for Christmas and new year season.
reports of vietnam and brazil origin kernels coming to India in Bulk that too with tax exemptions is affecting the kernel prices in domestic market, but expecting government to take positive action in this matter.
last traded W320 is at 3.15$/lbs FOB and W240 is at 3.30$/lbs FOB.
market seems to get corrected once the RCN prices comes to normal level, but its speculations which always leads to troubles, dont spculate and dont bubble the market, then only Industry can survive.
Awaiting for your valuable feedbacks
Sreejith k
commodity trade centre
kollam, kerala
mob:+919539000599
email: sreejith@ctcentre.in
skype: sreejith125
www.ctcentre.in
