According to some market rumors, those who were waiting for the start of the Onam festival are also back in the Indian cashew kernel market.
Usually, the Kerala based factories need extra cash during the Onam period to give bonus and advances to their work force. So many processors sell their accumulated stocks or make forward contracts offering huge cash basis discounts. But the entry of corporate retailers has changed the situation. Nowadays, local exporters and corporate retailers are the main buyers.
Sellers’ resistance may lift the market to a new high during the Ganesha and Onam festivals as Goa and Mangalore based processors are now losing their interest in the Indian domestic wholesale markets ( like Delhi, Mumbai and Indore ).