There is a steep decline in raw cashew prices across South India. The downward trend is mainly because of huge imports from West Africa. The quality of imports is said to be satisfactory when compared with past few years. However the present quality is not as good as last year’s imports. Another reason for the fall is increase in the cost of production.
Many factories are for sale in Maharashtra and Kerala.
Domestic raw cashew prices were too high in Maharashtra during the procurement season and there was high dependence on Mumbai and adjoining kernel markets. Therefore the local processors should target corporate retailers and export market else they might face shutdown.