Improved Demand Pushes Up Cashew Prices (07-Mar-2010)
With the rise in demand for W320, the cashew market last week witnessed good activities, thus pushing up its prices by a few cents to $2.60-2.65 a pound (f.o.b.).
The prices for other grades remained unchanged in the range of $2.85 and $2.90 for W240 while between $2.40 and $2.45 (f.o.b.) for W450.
A source said that under the current fundamentals, it would be reasonable to expect a floor of $2.40 and a top of $2.80 for W320 for most of 2010.
Moreover, he said that this is a wide range and there is no expectation that he prices will remain at either end for too long, unless something dramatic happens, and it would probably be a good idea for both sellers and buyers to cover portions of their positions at all levels, rather than waiting for the top or the bottom.
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