Rupee Fall Halts Cashew Trade

This entry was posted on Thursday, September 22nd, 2011 and is filed under Cashew.

In the past few weeks, the Indian Rupee is depreciating against the US Dollar in a big way and the depreciation has now crossed 10%. Kernel buyers think that the exporters are getting 10-11% more in Rupee terms, so they should reduce the prices. But this has become a major disaster to the raw cashew import sector. They have to pay now 10-11% more in Rupee terms to release their raw cashew imports. Vietnamese and Brazilian cashew industries are also in deep trouble as the Rupee depreciation has halted the international cashew trade. Only scarce premium grading has some areas of demand in the new and emerging markets.

Filed Under: Cashew