The African RCN prices have stabilised for almost all origins (Ghana 50 lbs is available at ₹100+GST Cash & Carry at Tuticorn port).
Major factors for this are limited availability of new crop supplemented with low supply of Indian origin RCN from east producing areas such as Odisha due to cyclone Fani.
The cashew kernel market has also seen stability with premium quality W320 steadily trading at ₹700/kg+gst.
This is attributed to orders coming in for the Indian wedding season coupled with the ending of the Indian elections which has been affecting business in small towns and rural areas.
What remains to be seen is how the coming months will affect the market with top African RCN companies offering abundant RCN supply at as low as $1000/MT for KOR 48lbs, Ghana crop, June shipment (₹70++).
With all Indian consumer centres such as Delhi, Mumbai etc. not stocking at all and expecting cashew kernel prices to crash by approximately 20% by end July, it’s to be seen where the cashew kernel prices will settle after arrivals of cheap RCN from Africa.