Rush Towards Benin

This entry was posted on Sunday, February 28th, 2010 and is filed under Cashew.

Indian raw cashew buyers are showing their buying interest only in Benin raw cashew nuts. Because of 15% to 20% down fall in cashew kernel prices, they are now in highly defensive mood. Local raw cashews are very costly and undried. There is no customs duty nor any sales tax on imported raw cashews. But the Indian governments levy sales taxes, Interstate taxes, APMC taxes and permits on their own product. Last year, almost all importers earned some good profits in the Benin raw nuts. But because of heavy rush, the shipment date for contracts below $900 per ton may not be possible in March. Some sellers may postpone the shipment date to late April.

Filed Under: Cashew