Cashew Slips On Slack Demand (23-Feb-2010)
Following the slack demand with small volume being traded, the prices of Cashew kernel prices continued to fall during the week.
During the week, the US and European traders bought small volume. The prices drifted lower by few cents - W240 between $2.85 and $2.90 as well as W320 between $2.60 and $2.65 and W450 at around $2.45 (FOB).
Meanwhile, according to a Mumbai-based trader, there has been an increase in the potential for volatility on account of the changes in cashew market structure and the trading pattern like the increased importance of unorganised spot market as well as reduced forward positions with the major importing countries and risk aversion and reduced risk appetite.
Moreover, he added that along with this is the rising impact of external factors like the currency movements and financial and economic developments which affect inventory management and demand forecasts.
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