Missed Opportunity, Old Mentality and ‘April Dance’

This entry was posted on Wednesday, February 1st, 2012 and is filed under Cashew.

It is pretty strange to see kernel sellers not to take the opportunity of price renegotiation, when the chances came in their way, especially in higher grades. A few exporters, with the same old mentality, are said to be still in a dilemma over any big improvements during their new-crop procurement season. As usual, bearish speculators are also trying their best to bring down the kernel market, to avoid any kind of increase in raw cashew prices. Every year the rumor creators  spread bearish rumors in the cashew flowering season but the story takes a different turn when the crop actually arrives. In India, the innumerable petty stockists strength is  good enough to overpower all such bearish rumor origins. Individually they may be very small buyers but their combined buying power may be around Rs400-500 crores.

The Government of Kerala always thinks about cashew workers and farmers and they will also fix reasonable prices. Thereafter everybody including the rumor kings will be compelled to follow the set market. The usual turn table movement is famously called ‘April Dance’. Last year it was in ‘March’ but this year, we may see it in ‘April’.

Filed Under: Cashew