Industry in Trouble Despite Improvements in Kernel Consumption

This entry was posted on Tuesday, November 15th, 2011 and is filed under Cashew.

According to some trade analysts, global consumption of cashew kernel is improving from last few weeks despite stiff competition from Almonds. But both the raw cashew and cashew kernel buyers are in a confused state because of unpredictable Forex fluctuations. Indian Rupee depreciation is above 13% against the US Dollar in last three months where as it is around 18% in the Brazilian Real during this August-September. Devaluation in the Tanzanian Shilling is nearly 20% since last year’s cashew season. ¬†At present, cashew Industry as a whole is in trouble due to very strong depreciation in Rupee (Indian Currency) and Real (Brazilian Currency) and most probably this crisis is a severe loss to the Vietnamese industry.

Filed Under: Cashew