Cashew Kernel Price Today

Cashew Kernel Price Today, September 09, 2017

W240: 5.20-5.25; W320: 5.05-5.15;

W450/ SW320/ LBW: 4.9-4.95;

DW: 4.5-4.6; WS/WB: 4.35-4.6;

LP: 3.75-3.85 (SP: Limited)

(Unit: USD/ Lb FOB HCMC/ Flexi packs)

Note: The above selling prices for non-Chinese markets/ Prompt shipment.

Thứ Năm, 28 tháng 3, 2013

European cashew dealers doubt Indian demand view




Wed Mar 27 2013

SAMSONS Trading of Mumbai has reported improved cashew demand in recent weeks, but European dealers are less convinced.

In a report for the week to March 23, Samsons Trading said that over the last three weeks there had been a reasonable amount of buying by US and EU traders and some roasters for shipments up to June or July.

Source: agra-net.com

Thứ Tư, 27 tháng 3, 2013

US, EU buying boosts cashew market


KOCHI, MARCH 26: 

The cashew market witnessed some buoyancy last week with prices moving up a few cents for two grades viz., W240 and W320 while not much change was seen in the other grades.
The undertone of the market was firm with buying interest in these two grades but being reasonable.
But the volume traded was less as there were not many sellers at the prices which buyers were offering to pay, market sources said.
The domestic market continued to be quiet but there were some indications that consuming centres are running out of inventory and may need to replenish soon, they said.
The range of prices this week was W240: $3.90-4.00; W320: $3.35-3.50; W450: $3.05-3.15; SW320: $3.00-3.10; SW360: $2.80-2.90; Splits: $2.15-2.25; Pieces $1.40- 1.50 a lb (fob).
Last three weeks, there has been a reasonable amount of buying by the US and the EU traders and some roasters for shipments up to June-July, Pankaj N. Sampat, a Mumbai-based dealer toldBusiness Line.
He said that most of the buyers have been reluctant to pay the few cents premium that large shellers are looking for and, therefore, most of the business has been with shellers who are selling in the lower end/middle of the current range.
In all origins, raw cashew nut prices moved up.
Shellers in all origins are finding it difficult to handle this new development in grades which constitute close to 40 per cent of the yield.
Long term solution to this issue would include better quality of raw cashew, processing and marketing.
The decline in raw cashew prices may not happen “if shellers are forced to buy at high prices because they need to keep factories running or because of the normal inclination to cover early arrivals (good quality).
Or if the kernel demand (and prices) pick up within the next 4-6 weeks making it possible for shellers to pay the high prices,” Pankaj said.
The trade continue to believe that market will remain steady to firm during 2013 with some possibility of a limited dip in April-May if raw cashew prices come down and a strong possibility of higher levels in the second half of the year, he said.
Source: Business Line

India: Cashew workers demand increase in wages


TUESDAY, MARCH 26, 2013
Cashew processing operators are a worried lot. About 10,000 workers, comprising more than 95 per cent women, are demanding a wage hike. These workers are engaged in theprocessing units in and around Palasa and Kasibugga areas in Srikakulam district. 

Palasa is the largest cashew production centre in Andhra Pradesh with about 200 processingunits. "Every two years, there is a wage agreement between labour and the processing unit owners. But this year, the workers are demanding a hike of 75 per cent, which the management is not ready to accept," said Malla Srinivasa Rao, president, Palasa Cashew Manufacturers Association. 

The association said it expected some positive development in this regard next week otherwise the operators would shut units from April. 

In March 2011, Palasa operators closed their units for 21 days due to unsettled wage revision. The labour department had to then intervene, he added. 

Palasa cashew operators pay workers Rs 150-200 per day depending on the work. "Workers' salary account for 12 per cent of the total production cost at present. This will go up to 15 per cent if we agree to their demand," he said. 

There are 25-30 cashew processing units operating on the Orissa borders, some 7-8 km from Palasa. "These operators pay even less - Rs 125 per day to the workers. If we hike the wages here, we would not be able to compete with them," he added.
Source: Business Standard

Declining Trend in the Indian Raw Cashew


March 27th, 2013


If the declining trend in the Indian raw cashew market is just because of the fiscal year-end, then no harm will befall on the improving kernel futures.
If the fall continues, a situation which troubled the entire west African cashew sector during the last year’s season may repeat again. African raw cashew stockist and speculators should thoroughly watch the April-May market, especially the first three weeks of April.
Source: World Cashews

Chủ Nhật, 24 tháng 3, 2013

SAMSON'S CASHEW MARKET REPORT - MAR 23, 2013


MAR 23, 2013

FOB prices in Week 11 :
 
W240          US$ 3.85 to 3.95
W320          US$ 3.35 to 3.50
W450          US$ 3.05 to 3.15
SW320        US$ 3.00 to 3.10
SW360        US$ 2.80 to 2.90
SSW            US$ 2.40 to 2.50
Splits          US$ 2.10 to 2.20
Large Pieces US$ 1.40 to 1.50


Cashew market moved up a few cents in Week 12 – mainly for W240 and W320 with not much change in other grades.   Market undertone was firm with reasonable buying interest  in these two grades but not much volume traded as there were not many sellers at the prices which buyers were willing to pay.   Indian domestic market continued to be quiet but there were some indications that consuming centres are running out of inventory and may need to replenish soon.
 
Range of prices this week was W240 from 3.90 to 4.00, W320 from 3.35 to 3.50,  W450 from 3.05 to 3.15, SW320 from 3.00 to 3.10, SW360 from 2.80 to 2.90,  Splits from 2.15 to 2.25, Pieces from 1.40 to 1.50 FOB.
 
In  all origins, RCN prices moved up.  Vietnam domestic RCN prices continue to be exceptionally strong as a result of which some processors are paying high prices for early shipments from West Africa. Range of prices is Benin from 1050 to 1100, Ghana around 1050, IVC from 925 to 975 with very little buying interest at the higher end of the range. 
 
During the last three weeks, there has been a reasonable amount of buying by US & EU traders (and some roasters) for shipments upto June/July.  Most of the buyers have been been reluctant to pay the few cents premium that large shellers are looking for and therefore, most of the business has been with shellers who are selling in the lower end / middle of the current range.  Despite these, the large shellers have not been willing to reduce their prices and have been able to make some sales at the higher levels.
 
During Apr/May, we certainly expect reasonable buying from the main importing markets.  Timing of the buying (before or after RCN are purchased) and volume + period of delivery will determine the price range in which shellers will be willing to take positions.
 
Unless RCN prices come down significantly, we see very little chance of shellers being able to sell large volumes at lower levels for long spreads. There will always be some shellers willing (or having) to sell at lower end of the range but that will only be limited quantities for nearbys.  Another reason for inability to reduce kernel offers is the low prices and slow movement of lower grades – scorched and broken.   Shellers in all origins are finding it difficult to handle this new development in grades which constitute close to 40% of the yield.  Long term solution to this issue would include better quality of RCN, better processing and better marketing.
 
An ideal situation would be for RCN prices to come down a bit during Apr/May which would enable shellers to cover some quantities and  sell kernels at current levels before buying more RCN during the rest of the season.  But, we do not live in an ideal world !! 
 
The decline in RCN prices may not happen if shellers are forced to buy RCN at current high prices because they need to keep factories or because of the normal inclination to cover early arrivals (good quality). Or if the kernel demand (and prices) pick up within the next 4-6 weeks making it possible for shellers to pay the high prices.
 
To sum up, we continue to believe that market will remain steady to firm during 2013 with some possibility of a limited dip in Apr/May if RCN prices come down and a strong possibility of higher levels in the second half of the year.

Pankaj N. Sampat | SAMSONS TRADERS

Thứ Năm, 21 tháng 3, 2013

India: Worst is not Yet Over in the Indian Cashew Kernel



March 20th, 2013


Summer consumption is on increase in India but there is no increase in kernel prices. North Indian buyers are showing more buying interest in the April contracts and south Indian sellers have adequate stocks to supply them.
Activity in the Hindu wedding season will restart from April 24, 2013.
Source: World Cashew

Bolivian-German nut endeavor gets underway




March 20, 2013

The characteristic Brazil nut is a natural Bolivian export product which is gathered by rural communities from the rainforests. It’s unique in the way that it is a collected crop and not a cultivated one. The trees need more than 25 years of growth to have a first harvest. All trials of cultivation have failed so far. Brazil nuts form an important trade, with a very significant socio-economic impact on the livelihood of the Bolivians living in the jungles. The export and trade involves a number of partners in a project called ‘Vivir Bien’, in which commercial companies, their brand, and government support all have their role.

The Bolivian Government aims to improve the living conditions of 25,000 people living in the rainforests who are dependent on the Brazil nuts. For this purpose, the Bolivian government has established their own company called ‘Sedem’. They partner with Haches & Schindler, a European import combination based in Hamburg. Together, they market Brazil nuts under the newly created brand ‘Vivir Bien’. The main goal of the involved parties is to ameliorate the market situation of Brazil nuts on both sides: origin and destination.“What typically gives the trade of Brazil nuts a special character, is an extreme lack of communication between the production in Bolivia and the consumption in the northern Hemisphere. “Asymmetric Information” is a term that describes this element of the trade very well,” says Andreas Schindler. “Collaborating in the Vivir Bien project typically helps us to tackle these problems.”

“In November of last year, we were in Germany to open our branch there, and seeing that the country is a big consumer of our organic and nutritional product, we thought it was appropriate to sell the product under our Vivir Bien brand,” said Patricia Ballivián, general manager for Sedem in Bolivia. Sedem is in charge of managing national key-industries with the goal to improve living conditions of the Bolivian citizens.

“What we had seen in this project is a great future to develop, so the rural families are there, the forest is there, the produce is there and all stakeholders of this supply chain are there! They are planning the future, this means to work efficiently and to conserve the Amazonian rain forest. By our side we want to transfer better incomes and provide good services to these rural families; thus finally we can grow up together” says Rolando Haches, who is Bolivian Citizen and living in Hamburg since 2006 and one of the partners in the Vivir Bien Project.

“After a close cooperation with Haches & Schindler developed over 3 years, now is the right moment to create a new unit to bridge the gap between production and distribution” says Andreas Schindler, one of the Partners in Haches & Schindler. “The Brazil nut is a healthy product with great nutrition facts and with important impacts on social and environmental effects. This makes it a very interesting and well-demanded product for conscious consumers,” summarizes Andreas Schindler. “In keeping with the Vivir Bien ethos, all business will be approached in a way that strives for environmental protection and social equality while achieving economic growth.” 

www.freshplaza.

Cashews set for key phase of demand




Tue Mar 19 2013

CASHEW roasters will have to buy a major portion of their needs for the second half of the year over the next six to eight weeks, Samsons Trading of Mumbai said in a March 16 market report.

"We expect that traders will probably want to cover their existing short positions - and maybe even go a little bit long - before that so that they are comfortable in making new contracts with retailers," the company added.

Source: www.agra-net.com

Cashew kernel prices fall in wholesale markets



(Wed Mar 20 2013) Cashew kernel prices are heading southwards in major wholesale markets in the country owing to subdued demand from stockists and retailers. Prices of all grades of cashew kernels and broken pieces have witnessed a drop in the range of 18-26 per cent, depending on the grades in the January-March quarter.

Prices for the W320 grade (the most preferred grade internationally) are hovering around ` 445 per kg ex-factory, a decline of 18.3 per cent compared to ` 545 in November last year. Prices of broken grades have slipped below the ` 300 mark and are currently ruling at ` 280 per kg, showing a decline of 26.3 per cent over the price of ` 380 prevailing around Diwali last year.

"The confidence in the retail market is pretty low at the moment. Generally, the demand for kernels comes down in summer months as there are not many festivals and the wedding season is yet to catch up," Walter D'Souza, former chairman of the Cashew Export Promotion Council of India (CEPCI), and an exporter from Mangalore, said.

In Delhi, over the last 15 days, prices of the W320 grade have declined 6.25 per cent to ` 450 per kg, while the prices of broken grades have slipped below ` 300. Prices of all grades of cashew kernels (W180, 210, 240, 320 and 450) have declined in the last quarter.

"There has been a steady decline in both sales and consumption during the last few months. There is no support either from the export markets for the processing houses as the US economy and the Euro zone crisis have led to sluggish demand from overseas buyers. Overall, the market is erratic in the last quarter of this fiscal," D'Souza added.

However, prices of kernels in the retail markets have not seen a major decline and are currently sold in the range of ` 720 to ` 900 per kg in various supermarkets and kirana stores across the country.

"It takes a lag to reach the retail markets. Traditional shops cannot predict the price movements on a continuous basis, as they don't purchase cashew kernels very regularly. Hence, they are unable to pass on the benefit to consumers. Whereas supermarkets take into account the various costs like logistics, people cost and retail space cost, among others, and try to book profits in the volatile market," said G Giridhar Prabhu, managing director, Achal Cashews, a Mangalore-based exporter.

Over the last three years, these costs have gone up 30-40 per cent and the supermarkets normally prefer to offer other incentives to push their stocks rather than reduce the prices instantly, he added. A slight decline in the prices of raw cashew nuts has also led to the fall in prices of processed cashew. The raw nut prices have also declined to ` 67 per kg compared to ` 75-90 per kg in the last season. Also, the imported raw nuts are available at ` 55 per kg.

SourceBusiness-Standard.

Chủ Nhật, 17 tháng 3, 2013

Guinean Cashew Alliance Launched


Guinean cashew farmers, processors and traders have joined forces to develop the potential of the cashew industry for the country’s economy. On February 25, 2013, the Guinean Cashew Alliance (l'Alliance Guinéenne de l'Anacarde) was launched in Conakry at an event attended by more than 50 participants from industry and government. With a growing production and processing industry, cashew contributes to the incomes of 50,000-80,000 people in rural Guinea. 
AGA Executive Secretary Keita Sidikiba, ACA MD Christian Dahm, and AGA President after the MOU signing.Their income could be significantly improved by promoting good agricultural practices, harvest and post-harvest handling to improve the poor quality of the crop. Furthermore, local processing of cashew could create thousands of jobs in rural communities. Christian Dahm, Managing Director and William Larbi, Partnership Officer traveled to Conakry with USAID-BEAM support and on invitation of the newly launched Guinean Cashew Alliance (AGA). While at the launch event, Dahm and Larbi presented the international cashew market, its potential in Guinea and policy options for supporting the sector. ACA and AGA signed an MOU establishing a partnership agreement that reinforces cooperation and collaboration between the two organizations.  

Source: ACA

First Guinean Cashew Processor Signs Up for ACA Seal Program after Initiating Guinean Cashew Exports to US


12 March, 2013 - 16:42

After discussions with ACA Quality and Food Safety Expert Jim Giles and a visit by MD Christian Dahm and William Larbi in February 2013, SOPELGUI decided to implement the ACA Seal program. The facility is the most recent to commit to the ACA Seal, enrolling in a program that now includes two approved and seven implementing companies in East and West Africa.

"The work that still needs to be done is less than what we have accomplished already, I am certain we will reach the next level," said El Hadji Mamadou Bary of SOPELGUI, after he signed up his company for the ACA Quality and Sustainability Seal Program.
SOPELGUI is Guinea’s first cashew processor. The Indian-Guinean joint venture began operating in 2012 and has since exported the first cashew kernels from Guinea, most of which to an ACA founding member based in the US.
SOPELGUI was also featured on the evening national news program in Guinea, in a segment highlighting the facility and the potential of cashew processing for the Guinean economy. A team of journalists interviewed Guinean Cashew Alliance Executive Secretary Keita Sidibe and Dahm for the piece. 
Source: ACA

Job-work Processing in Danger of Closure in India

March 16th, 2013 


Indian raw cashew importers may not immediately stop Job-work processing in others’ factories but this system is now teetering on the brink of collapse. If the Indian pieces-splits and lower grades market follows the global market, Indian importers can not bear the import related extra charges and ever-increasing processing expenses.
Production cost is cheapest in the African countries but this expense is more than double in the western parts of India.
However, Indians always get a bumper Diwali bonanza for 3-4 months in a year.
Source: World Cashews

Indian Raw Cashew Rebounces on Crop Reports


 Friday, March 15th, 2013


According to some press reports, Indian first crop harvest is a big disaster both in terms of quantity as well as quality.
In the Kerala region, the problem is due to climatic conditions and in Karnataka, almost every small-scale farmer is facing pest related problems.
Farmers’ unions think that the failure is massive and widespread.
Source: World Cashews

Zambia: Cashew Nut Industry Rejuvenation Underway

SATURDAY, MARCH 16, 2013


WESTERN Province is poised to become the hub of cashew nut production in the next few years.
Government has already given the Cashew nut Growers Association a grant of K100 million for the importation of 30,000 cashew nut seedlings from Mozambique.
Cashew nut growing in Western Province dates as far back as 1985, during the time of first Republican President Kenneth Kaunda's government, who initiated this project as an out-grower scheme..
Moses Shimbilimbili who is coordinator for the Cashew nut Development Project in Mongu, said over ten thousand farmers were recruited by the then Kenneth Kaunda government.
The exercise saw over 1.7 million trees planted and the cashew nut industry boomed, however, the cashew nut factories were privatised in 1997.
The worst hit were the cashew nut farmers whose main market had been the State, they were abandoned for over twenty years.

cashewnews_131
In 2007, farmers came together, mobilised themselves to revitalise the cashew nut industry.
The industry needs about KR12 Million in order for this to happen viably.
However, the Citizens Economic Empowerment Commission (CEEC) has injected KR550, 000 in the project for the purchase of equipment and cashew nuts from farmers.
CEEC has helped to develop an out grower scheme by providing KR 1.7 million to rejuvenate the trees and to secure planting materials.
Some of the money was used for research by sending Government officials to Mozambique.
Mozambique is one of Africa's top producers of cashew nuts and it is only befitting thatZambia learns from them.
After realising the economic prospects of cashew nuts, the Government showed its support and added to the funds from CEEC.
The industry received a KR9,000 from Ministry of Agriculture and KR5,000 from Ministry of Finance and National Planning.
The cooperative had some problems in paying back the funds it borrowed owing to a variety of reasons.
Mr Shimbilimbili said one of the main reasons owing to this was the wrong assumption by the farmers regarding the economic viability of the trees.
The trees do not grow as many nuts as they used to but this has not deterred the farmers from pursuing their dream.
Their determination is such that they have been to China to also borrow some money for the project.
Mr Shimbilimbili said without the loan from CEEC, they would still have been at zero level in terms of progress.
The CEEC gave them a loan when their dream was still merely words on paper.
CEEC communications and public relations manager Glenda Masebe after touring the factory and nursery said it was clear that the farmers were making progress.
Ms Masebe said it was encouraging to see people using the funds from CEEC for the purpose they were intended for.
She said the money was meant to be a revolving fund thus it was good to encourage people to make progress so they could pay back the money in order for others to benefit.
Ms Masebe encouraged the farmers to write a report of whatever challenges they were facing in terms of repayment because she said it was clear they were working hard.
The group of farmers have bought new equipment to process the nut, the equipment accrues zero per cent loss compared to the old one they were using which took seven days for the nuts to be ready and accrued 97 per cent losses.
Walusungu Banda, who is Provincial Empowerment Coordinator for the CEEC said that when the industry is fully functional 30,000 jobs would be created.
This is a much needed development obviously and it goes with the CEECs fundamental plan, which Ms Masebe says is the creation of entrepreneurs who will in turn provide employment to others.
The project has so far recruited 10,000 farmers and it is targeting 15,000 farmers in order to fulfil the dream of planting 200,000 trees every year.
This will be realised through each farmer planting 20 trees each year which become productive after 24 months.
The profit, however, will only be realised after four years.
The cashew nut trees are drought resistant, a bonus especially in this era of climate change and unpredictable weather patterns.
Mr Shimbilimbili said the farmers are only supplying 5 per cent of the national market as demand is higher than supply.
The future of course lies in exporting the nuts to other countries, a trend which has been rising in nations such as Nigeria, Brazil and Mozambique.
When exporting any products abroad, it is not a supplier that people buy from, it is a nation thus all produce has to adhere to Zambia Development Agency Regulations.
According to Commodity Online an online Global prices publication; major importers of cashew nut are US, European Union, China, and countries in West Asia.
Global prices of cashew kernels are shaped by prices of competing tree nuts such as almonds, walnut, pistachio etc.
World cashew trade picked up in pace only from mid-20th century, and it has gone through various changes in the subsequent years of its development.
Jamil Patel a shop owner in Lusaka says cashew nuts are a widely sought after food with people from all walks of life trooping in to his shop to buy them.
Mr Patel says that the cashews can be a meal on their own adding that for women onslimming diets they can act as a food supplement.
"You know these days women are going on slimming diets, they can use cashew as it has filling properties. And it has no harmful fats."
According to the encyclopedia of food sciences and nutrition; "cashews, as with other tree nuts, are a good source of antioxidants.
Alkyl phenols, in particular, are abundant in cashews. Cashews are also a good source of dietary trace minerals copper, iron and zinc."
The 1985 trees' properties were not known by the farmers thus they have been buying scions (cuttings from the branches) to bond to the new trees before growing them here.
"The trees from Mozambique have well known qualities we know whether they are sweet, bitter and so on. That's why we are grafting from there, besides Mozambique has taught us a lot in terms of cashew nut farming." Mr Shimbilimbili says.
CEEC took a leap of faith by helping the farmers and this fact is acknowledged, Pius Mishengo who is the former acting Deputy Permanent Secretary of Western Province said.
"Once the cashew nut industry is up and running, it will turn around the economy of Western Province." He said adding that a tonne of cashew nuts is practically equivalent to a tonne of copper.
He also urged people who owed CEEC to pay back the money they owe as it was meant to be a revolving fund.
"We are aware of success stories in the province, some people have utilised the funds but we are tired of singing the poverty song.
Loan recovery is a critical part of loan repayments, it is vital that everyone benefits from the fund and this can only be done if debtors pay back," Mr Mishengo said.
Ms Masebe says CEEC has given loans to people in various areas, we encourage people to invest in different areas.
Economic diversity is vital for a developing nation and that is why the growth of the cashew nut Industry should be supported.
Source: Times of Zambia

India: Growers seek support price for cashew

THURSDAY, MARCH 14, 2013


Cashew growers has demanded support price for the crop, and president of Karnataka Rajya Raita Sangha’s Moodbidri unit Dhanakeerti Balipa expressed concern over increasing input costs at the annual Cashew Mela in Mangalore on Wednesday.
Mr. Balipa said the price of raw cashew was far below the investment. “What is the point in pushing us to grow cashew in the absence of a scientifically fixed support price. We do not want any subsidy from the government (for growing cashew). We desperately need support price,” he said.

India: Growers seek support price for cashew
Subsidy given by the State government for extending cashew plantation area did not help farmers unless the basic issue of support price was resolved. Cashew farmers are also turning towards rubber plantations as growing cashew is becoming economically unviable.
“You can see the change in places such as Moodbidri. Rubber plantations have replaced cashew in many areas,” he said. There was absence of facilities for processing units and cold storages necessary for small-time cashew growers in the district, he said.
S.D. Sampat Samrajya, a member of the Board of Management from Horticultural Sciences University Bagalkot, said the production of cashew had not increased for more than five years. He said the yield per hectare in the State was 461 kg. Maharashtra led the pack with yield of 1086 kg per hectare, followed by Kerala at 957 kg per hectare, and West Bengal at 909 kg a hectare.
Mr. Samrajya said the amount of raw cashew produced was less compared to requirement of cashew kernel for the 3,600 cashew processing units in the country. The production has been around 6.5 lakh tonnes as against the demand of 15 lakh tonnes. “We are forced to import raw cashew from countries such as Ivory Coast and Tasmania. We are losing our foreign exchange,” he said.
The annual Cashew Mela was organised at the Horticultural Research Station in Ullal. There were stalls displaying apples from cashew varieties namely Ullal-1, Ullal-2, Ullal-3 and Ullal-4 and products including Kokum jam, Kokam chutney and bitter gourd pickles. It also had nine varieties of juices including a few pertaining to cashew.
A new cashew variety
The Horticultural Research Station in Ullal is working towards introducing a new variety of cashew crop in Dakshina Kannada.
Lakshman, Head of the Research Station in Ullal, said ‘Priyanka’, a new early-harvesting cashew variety which was already being grown in several parts of Kerala would be released here soon.
Cashew kernel as well as the seed was bigger in this variety. Each plant would give cashew not less than 19 kg. The growth of this variety was studied in the Station for 10 years and it had been found to be good for the region, he said.
Source: Business Line

Hike import duty on cashew, says CPI(M)

NEW DELHI, MARCH 12: 

The CPI(M) has demanded imposition of specific duty on imported cashew. CPI(M) MP K.N. Balagopal said cashew was being imported as cattle feed with a low duty. He said at least Rs 250 a kg should be imposed as import duty on cashew.
cashewnews_075

Balagopal said the cashew industry was hit by such imports as even kernels were being imported, citing cases of under-invoicing. “They are writing a very low price and, hence, a very low percentage of tax is being paid,” he said.
Imported cashew was being used in the domestic market, which makes for about 30 per cent of the total cashew sales, he said. Imported cashew was also being repackaged and exporting in the name of Indian cashew, he said, and added that India’s exports and domestic market were being impacted.
“In India, around 10 lakh people are working in this industry, but the Government is not giving any export promotion benefit to it,” he said.
Source: Business Line

Burkina Faso Launches 2013 Cashew Season


The launch of the cashew season in Burkina Faso this week took place at the premises of ANATRANS factory in Bobo-Dioulasso on the 12th of March, 2013.
MC for the day, Mohammed Ouedraogo addressing the gathering
The flagoff event, under the auspices of the Burkinabe National Cashew Committee was attended by the Head of District of Bobo-Dioulasso. Over 40 personalities were in attendance including District and Constituency heads, Regional Directors of Technical support services, among other major stakeholders in the cashew sector.
In a speech read on his behalf by the Head of District, the Chief Commissioner of Houet province noted the impressive innovation and verve that has been witnessed in the Burkinabe cashew sector over the years. While congratulating the National Committee for good work done he took the opportunity to charge all involved to consolidate the impressive gains and strive to do even better. He also noted in particular, the contribution of the technical and financial partners in achieving the impressive performance.
A section of the invited guests
Cashew-sector players later met to deliberate and discuss the major issues in the just ended 2012 season as well as fix the indicative price for the current season. The minimum price for RCN for the 2013 campaign was fixed at 200CFA/kg.
The ceremony capped off with a visit to the ANATRANS factory. Guests were taken on a conducted tour of the company’s impressive facility by its Chief of factory.
Source: ACA