Price of a premium grade W320 tin is nearing Rs 9000/11.340 kilo/inclusive of VAT in Goa and Mangalore. Retail Diwali sales may increase in the second half of October but Wholesale buyers from Delhi might stop their festive purchases in the first half itself.
Therefore, next few weeks will be the best period for profit booking in both the raw cashew as well as cashew kernel in India.
Raw cashew prices are also soaring in accordance with the kernel market. Price of Beninese raw cashew is now around Rs 120-125 kilo/48 lbs/175 counts.
When the biggest consumption period ends competition from almonds will become more severe and the future GST rate will become the talking point.