Resellers of imported raw cashew are trying to sell the Tanzanian 51 LBs/80kilo/raw cashew around Rs165/kilo as ‘profit booking through the inventory sale’ has become the strategy of the market. The price increase is said to be more than 8% in just 10 days.
Indian calendars prohibit auspicious celebrations till Feb 4, 2018 and thereafter comes the exam period. March is the fiscal year-end month.
So kernel buyers think that the over-investment in the industry is the reason behind the inventory price rise.
Because of over-investment, those who need raw cashew will have to follow the rumor-driven market but in the final end, only the fittest and calculative will survive.