date:Aug 12, 2016
Cashew nut prices have surged as excessive heat and lack of rain, linked to the El Nio weather phenomenon earlier this year, affected cashew producers in Africa and Asia. At the same time, a rise in labour costs in India as well as an import tax has led to numerous processing plants being idled.
Cashew prices have jumped a fifth from the start of the year to about $4.20 a pound, with buyers facing a tight market for the rest of the year.
The high prices are likely to worry cashew buyers, incl