The BIG news in the Indian Cashew Market is the 9.55% Duty on Import of RCN into India.
Although this may not have any significant impact on the cashew kernel market, it will make things difficult for Indian shellers who are already burdened with high processing costs and lower RCN availability. Impact will be more for those catering to domestic market but exporters will also be adversely affected as it is not easy to operate under Duty Refund / Duty Exemption schemes. Strong efforts are being made for re-consideration but outcome is uncertain.
Current kernel prices are W240 from 3.75 to 3.95, W320 from 3.50 to 3.70, W450 from 3.45 to 3.55, Splits from 3.10 to 3.25, Pieces from 2.90 to 3.10 FOB