Effects of Indian Currency Depreciation on Dry Fruits

This entry was posted on Tuesday, November 22nd, 2011 and is filed under Cashew.

In these couple of weeks, business confidence has risen in the cashew industry in spite of major headwinds like interest rate, volatile Forex and rumors of recession etc. In India, the difference between California Almonds and W320 has come down to 32-35 % which was around 70-80% during the Diwali period! Import cost of almost all the dry fruits has increased due to steep (17-18%) currency depreciation. Though the trading sector is still careful in their purchases, they expect some immediate improvements in the domestic cashew kernel consumption.

Filed Under: Cashew