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, 29 tháng 8, 2013

Volatility Seems to be the Character of Cashew Trade, Nobody can Fight with the Market (2)

August 28th, 2013

Today there are no forward sellers in the Indian cashew kernel. Most probably, the market has moved towards Rs6500/11.340 kg/September/Premium W320/Goa-Mangalore.

According to some market analysts, buyers are also responsible for the current situation -
- Some buyers are not interested in any kind of customer relationship. They created many problems during the second-half of the Ramadan month. So when the opportunity comes to sellers, they should also try their best to cash the chance.
So whatever is the Diwali market, there will be sellers resistance’ till Diwali.

Cashew trade is always volatile because of buyers buying strategy and sellers sales strategy.
Source: World Cashew

Thứ Ba, 27 tháng 8, 2013

Volatility Seems to be the Character of Cashew Trade, Nobody can Fight with the Market (1)

August 27th, 2013

Contrary to our article – ‘ Which is Better ? consumption or Rs7000/tin/11.340kgs/W320 During Diwali ‘ dated 21st July 2013, sellers of premium grading W320 may opt for an all time high.

In India, buyers are offering Rs6250/11.340 kg/Premium W320/September/Goa-Mangalore/ – but there is no bulk availability

According to some critics, nobody can fight with the cashew market as volatility is the character of this trade. 
Source: World Cashew

Thứ Hai, 26 tháng 8, 2013

'Expensive cashew bleeds Corp'


Sun, Aug 25 2013

A confidential report of the public sector Restructuring and Internal Audit Board has charged that the Kerala State Cashew Development Corporation had purchased a substantial portion of raw cashew between 2008-09 and 2011-12 from a single agency incurring huge losses. “The majority of the purchase was through JMJ Traders instead of direct agents of foreign suppliers,” the  report handed over to the Industries Department says.



In 2008-09, nearly 94 percent of raw cashew nuts was purchased by the CDC from JMJ Traders. It was 82.55 percent  in  2009-10,   91 percent in  2010-11   and 92 percent in 2011-12. “This shows that there was a near monopoly in the supply of raw cashew,”  the report said. Further, it was found that JMJ Traders had employed more than one sub-agent to reach the original supplier. Such a long-chain indirect purchase model had pushed up costs.

The  RIAB’s probe also revealed that JMJ had supplied low quality nuts violating the original contract. The KSCDC had originally contracted nuts with 47 lbs outturn. The sub-contract between Kumar Cashew Exports and Sai Commodities was only for 45 lbs outturn.

Sai sold this low quality product to Kumar Cashew at $723.19 per MT. Kumar Cashew then passed it on to JMJ at $839.25 per MT. JMJ then sold this to CDC at $888.88 per MT. “The loss in this particular transaction will itself be a total of over `21 lakh, without considering the loss on account of low quality,” the report said.

Source: http://www.deccanchronicle.com/130825/news-current-affairs/article/expensive-cashew-bleeds-corp

Chủ Nhật, 25 tháng 8, 2013

Indian food Industry Facing Severe Shortage of Splits and Pieces


Fri, Aug 23 2013

Import of cashew pieces has become once again negligible in India due to the Rupee devaluation factor. In Goa and Mangalore, wholesale buyers’ are not getting even 50% of their festive demand.



Prices for the white quality Jumbo Splits may be around Rs5400/ Tin of 11.34 kgs / Goa – Mangalore/ For the Bulk Quantity

Prices for the white quality Jumbo Pieces may be around Rs4750/ Tin of 11.34 kgs / Goa – Mangalore/ For the Bulk Quantity

Source: worldcashew.com

Thứ Sáu, 23 tháng 8, 2013

Gambia: Stakeholders Meet to Review Cashew Sector Report


Friday, August 23, 2013

The Enhanced Integrated Framework (EIF), National Implementation Unit (NIU), under the Ministry of Trade, Industry, Regional Integration and Employment (MOTIE) in collaboration with the International Trade Centre (ITC) on Tuesday concluded a two-day workshop on the revision and validation of the report on the cashew sub-sector in The Gambia. The event which was held at the Paradise Suites Hotel attracted both national and international stakeholders, including senior government officials and agronomists amongst others to validate a strategy document meant to provide specific support for the cashew production.


In his welcoming remarks, programme officer, Enhanced Integrated Framework (EIF), Modou Touray, said the validation document focuses on finding new export opportunities, product diversification, improved value-addition, quality enhancement and strengthening sector support institutions of cashew sector.

According to him, the revision and validation of a strategy document is crucial for the growth and development of the cashew sub-sectors. The revision exercise he said targets the current performance, constraints, future orientations and key priority activities of cashew sector. Touray stated that the validation of a strategy document is geared towards promoting good farm practices, as well as increase the exportation of cashew products, and by extension create more awareness on the impacts of the two sectors on agricultural exports.

"The sector competitiveness and export diversification project, on the cashew sector is implemented by International Trade Center (ITC), who are also providing technical backup, in partnership with the Ministry of Trade, Industry, Regional Integration and Employment (MOTIE) and local stakeholders," Touray added.

For his part, Charles Roberge, a representative of the International Trade Center (ITC), stated that the strategic validation of the document is aimed at reflecting on the needs and aspirations and the corresponding activities required to achieve the desired results. He added that the validation workshop is meant to highlight the contents of the document with a view to encouraging active participation and support of all stakeholders. Charles further said the strategic validation document seeks to improve the performance of the cashew sector, through a multi-dimensional approach in line with the business environment, marketing and export performance.

According to the ITC representative, the validation document also aims to tap emerging opportunities, by providing a coherent framework endorsed by government for the next five years, all geared towards the development of cashew sector.


Source: http://allafrica.com/stories/201308221496.html

Tanzania: Cashew Nuts and Tobacco Potential AGOA Export Bailout


Thu, Aug 22 2013

MANY African countries, including Tanzania, are likely to miss the opportunity of enhancing their trade relations with the US through the African Growth and Opportunity Act (AGOA), which is coming to an end in 2015.



Therefore, urgent measures are crucial by African governments to engage the US government to put in place provisions and conditions that allows countries like Tanzania to diversify their exports besides their usual oil and textile industries.

So far, the AGOA list excludes some of the key export products with great market potential in the US, including tobacco, processed cashew nuts, tea, honey and leather.

On the other hand, the US government should listen to requests of diversifying AGOA exports by eligible countries that have so far failed to exploit fully the AGOA potential. For example, tobacco and processed cashew nuts, the country's leading crop in terms of foreign exchange among other traditional cash crops, as mentioned above, is not included in the AGOA enhancement plan.

If included, together with cashew nut, is likely to bail out Tanzania in efforts to enhance exports to the US and enable the country to earn millions of US dollars adding to the current portfolio. According to the US Department of Trade report, the highest AGOA sales for Tanzania were in 2011 covering mostly apparels, estimated at about $5.7 million worth of goods exported to the US making it the fifth among Sub-Saharan surveyed countries benefiting from AGOA.

Tailing behind Tanzania were Uganda's exports $2.541 million and Rwanda's $0.597 million. AGOA's purpose is to assist the economies of sub-Saharan Africa to improve economic relations between the US and the sub-Saharan region. Industry watchers have it that, efforts by African governments, Tanzania's in particular, is key in making sure the US government includes these other items, especially tobacco and cashew nut to be part of AGOA's enhancement plan in support of the World Trade Organisation in terms of the least developed countries (LDCs).

Speaking on the occasion, US Trade Representative Michael Froman said President Obama, while visiting Tanzania announced the launch of Trade Africa, a new partnership between the US and Africa that seeks to increase internal and regional trade within Africa and expand trade and economic ties between Africa, the US and other global markets.


Source: http://allafrica.com/stories/201308220133.html?viewall=1

When Money Really Does Grow on Trees: The Rise of the Cashew Industry in Ghana

19 August, 2013 

Though only a little larger than a one cedi coin, the cashew nut has the potential to be economic dynamite in Ghana, and it’s just beginning to spark.  Over the last couple of years, cashew production in Ghana has grown at a rapid pace.  This increase within Ghana is part of a larger trend throughout Africa, as cashew production has nearly doubled on the continent over the last 10 years.  Now, over two million African farmers grow about 48% of the world’s cashew, slowly replacing previous hubs for the nut, such as Vietnam and India.  As cashew nut production rises throughout Africa, the benefits span far beyond enjoying more of the delicious, bite-size snack.  The cashew industry provides livelihoods for many and economic benefits for many more.
The Value Chain
Every cashew nut that reaches the marketgoes through a lengthy process of growth, transport, and processing: at each stop along the way, the small seed gains value.  In the first stage, farmers plant and nurture wide, leafy trees that will eventually produce red, orange, and yellow fruits, visual relatives of bell-peppers in the vegetable family.  While sweet and flavorful in their own right, these cashew apples are often forgotten once the tree’s seed forms in a brown kidney-shaped casing at the bottom – the cashew nut. 
Once the farmers pick the fruit and nut from the tree, the cashews are transported to stage two of the value chain: processing.  For 93%-95% of cashews, this transport will be long, as they are transported out of Africa to be processed.  Once they are sent off the continent, the value chain in Africa ends, and the extra worth added to raw cashew nuts in processing benefits international companies. For the other 5%-7% of raw cashew nuts that are taken from African farms, the transport to the second stage is short, and the value which will soon be added benefits African laborers and consequentially the economy.  
At the processing factory, cashews are dried, peeled, roasted, and packaged; Prepared for the final stage of consumption.  From farmer to consumer, the cashew market is mobilized by buyers, processors, transporters, and retailers.  Each actor along the line gives and takes value from the small nut.
Small Nut, Big Impact
The size of the cashew industry in Ghana, as a fraction of the country’s total economy will probably surprise you. Exports of the small, moon-shaped seed of the cashew tree account for 6% of Ghana’s total GDP, and 18% of the country’s agricultural GDP.  Behind the data and percentages, about 60,000 small holder farmers are fueling cashew production everyday in Ghana on 60,000 total hectares of land.  In total, Ghana produced over 50,000MT of raw cashew nuts in the year 2012.  Ghana also acts as a hub for cashew trade and export, often exporting cashew from neighboring countries including Cote d’Ivoire and Burkina Faso.  Consequentially, Ghana exported 180,000MT of RCN in 2012, over 150% of it’s national cashew production.
As processing continues to grow throughout Africa, and in Ghana, the cashew is gaining an even more prominent place in national economies.  Currently, Ghana has an installed processing capacity of 18,000MT, however a new large processing plant will increase this capacity by 35,000MT when it begins operation next year.  This increase in processing capacity will make Ghana the leading country in Africa, in terms of processing capacity.  This means a longer value chain within Ghana and therefore more gains.
Every dollar that is spent directly on Ghana’s dynamic cashew industry sparks economic gains that echo far beyond cashew farmers and processors. A study completed by the United States Agency for International Development and the West African Trade Hub found that for every $1000 in cashew sales by farmers, 120 jobs were created in the central Ghana.  That is 120 opportunities, 120 livelihoods, and that $1000 dollars in cashew sales happened hundreds of thousands of times in Ghana, last year alone.  As expected, such large impacts on labor also impact income levels.  The same study found that for every $1.00 in farm income from the sale of cashews, an additional $1.43 of household income was created in the local economy. Dynamite.  
Source: ACA

Cashew production said to be dwindling in Ghana


Wed, Aug 21 2013

Cashew farmers in the Jaman North District are losing interest in the cultivation of the cash crop because of poor purchasing price for the commodity. They are therefore appealing to government to intervene by facilitating the establishment of a purchasing agency to ensure locally guaranteed price as pertaining for cocoa and shea butter.



Nana Kwame Siey, Chairman of Jaman North Cashew Farmers Association, Nana Kwadwo Magsah II, Acting President of Sampa Traditional Council and Mr Pascal Sie, a cashew farmer and opinion leader, made the appeal when speaking to the Ghana News Agency (GNA) at Sampa the district capital on Tuesday. Nana Siey said their economic fate was in the hands of some Indian merchants who had built big warehouses at various places in Sampa to store the commodity and argued that if it was not a profitable business those merchants would not be staying in the area to buy the produce directly for export.

He said the price per kilogramme for the crop was GH¢1.30 in 2011, reduced to GH¢1.20 in 2012 and since January-February this year the price had been reducing gradually to 40GHp per kilogramme currently. Nana Sie stated that cashew farmers in Cote d’Ivoire produced the crop abundantly and transported them to Sampa, a marketing centre for Indian merchants after they had negotiated with cashew farmers in Cote d’Ivoire.

He alleged that the Indian merchants were transacting cashew business in Ghana because it was assisting them to avoid higher charges and export duties at the port in Cote d’Ivoire. Nana Siey said the merchants were taking advantage of the local cashew farmers and the country despite the fact that cashew produced in Ghana was better in quality than that produced in Cote d’Ivoire.

He said due to the inferior quality of their cashew, farmers in Cote d’Ivoire reduced the price for the Indian merchants to the detriment of their counterparts in Ghana and that the situation had  affected most of the local farmers financially. Nana Kwadwo Magsah said because of the poor purchasing price, the farmers were unable to recover even the cost of their labour and that had culminated in stockpiling of the commodity in the area waiting for improved price to sell.

He appealed to government to assist them through the Ministry of Food and Agriculture and the Ministry of Trade and Industries to ensure good purchasing price for cashew produced in the country. Nana Kwadwo Magsah said the interest in cashew production was dwindling in both Jaman North and Jaman South districts due to the hopeless situation, even though that was the main economic stay of most of the farmers.

He said “We are appealing to government for immediate intervention; otherwise loans to support cashew farmers can go waste since in the face of the current price, it will be difficult for most of the farmers to repay”.

Source: GNA

28 branches named for high competitive advantages

Wed, Aug 21 2013

Twenty eight of industries/branches have entered the draft list of the industries which have high competitive edges and need preferential policies to develop. A lot of professional associations have responded that the listing is unreasonable. The Ministry of Industry and Trade on August 15 organized a workshop to collect opinions from relevant ministries on the list of the industries with high competitive edges to enjoy preferential policies.



According to Hoang Thinh Lam, Deputy Director of the Planning Department, the head of the compilation committee, the branches/industries to be selected as having high competitive edges must meet the majority of the seven criteria. The seven required criteria include: 1) using domestic labor force 2) using the domestic material sources 3) get benefits from integration policies 4) have big investment opportunities 5) have the domestic large market or have good export opportunities 6) have developed supporting industries, and 7) pay attention to the green economic development.

Twenty eight industries which can meet the above said requirements have been nominated for enjoying preferential policies to develop.

Too many, but not enough

Twenty eight industries with competitive edges to enjoy investment incentives is a big number. However, enterprises still think that the list does not cover all “deserving” industries. A lot of Vietnamese competitive industries have not been found in the list. Deputy Director of the HCM City Industry and Trade Department Le Van Khoa has suggesting adding the wood processing and food processing into the list. The two industries, according to the official, not only can satisfy the seven requirements, but also are the competitive industries which would help develop agriculture and fisheries.

Secretary General of the Cashew Association Dang Hoang Giang said he could not understand why cashew processing has not been listed as a competitive industry, though it can satisfy all the seven requirements. Vietnam is now the biggest cashew nut exporter, while it does not meet the obstacles like the importers’ trade remedies or technical barriers. Chair of the Vietnam Mechanical Engineering Dao Van Long disagreed with the compilers, saying that it is unreasonable to give preferences only to engine motors. “Vietnam can make high quality components for cement and chemicals factories which help reduce the trade gap. However, the industry has not been found in the list,” he said.

Meanwhile, the representative of the Ministry of Agriculture and Rural Development (MARD) does not feel happy when rice faming has been listed as having high competitiveness. “This does not truly reflect the reality and this comes contrary to the Vietnamese policy on restructuring the agriculture production,” he said. The official went on to say that the more farmers grow rice, the bigger loss they incur. Meanwhile, the farm produce processing which can bring high added value to Vietnam has not been listed among the most competitive branches.

Also according to him, it would be better not to count how many tons of products the industries can put out and export when considering their competitiveness, but to consider if the industries can make the products at the lowest costs and what the industries can bring to farmers. According to Nguyen Duc Van, Deputy Director of the Enterprise Renovation Department under the Government Office, MOIT should have submitted to the agency the plan on prioritizing to develop the industries with high competitiveness in June. However, it’s still unclear which industries are “competitive.”

Source: http://english.vietnamnet.vn/fms/business/82341/28-branches-named-for-high-competitive-advantages.html

Thứ Tư, 21 tháng 8, 2013

Diwali Competition Begins in India

August 21st, 2013

According to some market rumors, those who were waiting for the start of the Onam festival are also back in the Indian cashew kernel market.

Usually, the Kerala based factories need extra cash during the Onam period to give bonus and advances to their work force. So many processors sell their accumulated stocks or make forward contracts offering huge cash basis discounts. But the entry of corporate retailers has changed the situation. Nowadays, local exporters and corporate retailers are the main buyers.

Sellers’ resistance may lift the market to a new high during the Ganesha and Onam festivals as Goa and Mangalore based processors are now losing their interest in the Indian domestic wholesale markets ( like Delhi, Mumbai and Indore ). 

Source: World Cashew

Thứ Ba, 20 tháng 8, 2013

Brazilian Senate approves Cashew Cultural Support Fund

Mon, Aug 19 2013


The Brazilian Senate has given the green light to the creation of a Cashew Cultural Support Fund (Funcaju), in order to stimulate production and export of the fruit and its derivatives, media agency Globo reported. cashew fruit small.



The fruit, most known worldwide for the cashew nut it produces, is indigenous to northeastern Brazil and comes from the indigenous Tupi name ‘acajú’.

The nuts sits atop an accessory fruit called the cashew apple, which can be eaten fresh but is often used in juices and sweets in Brazil.

As the fruit carries economic weight many states in northern Brazil, the fund will go toward such initiatives as improving infrastructure and the living conditions of growers.

Globo reported the fund would also regulate prices, but it still needs presidential approval.


Source: http://www.freshfruitportal.com/2013/08/19/brazilian-senate-approves-cashew-cultural-support-fund/?country=others

Karkala: Modern machinery showcased at Cashew Tech exhibition

Mon, Aug 19 2013


The Cashew Tech 2013 an exhibition showcasing all the modern machineries for the cashew industry was inaugurated on August 17 by Gopal Bhandary, ex-MLA at Karkala, Udupi District.



He was accompanied by the president Sudhakar Kamath and office bearers of the Karnataka Cashew Manufacturers Association - vice president Srikanth Mallar, secretary  Pramod Kamath, joint secretary Tukaram Prabhu and treasurer Santosh D'Silva.

The exhibition is an initiative of the Cashew association to improve the productivity and put the state industry into a high growth path.

The exhibition will be held from August 17 to August 19 and will be open to public from 10 am to 5 pm.

The exhibition will present more than 40 exhibitors who are displaying all the latest technology related to the cashew industry. Many machineries are applicable to other food industry also and visitors will be able to benefit from evaluating these machines in one single place.

Source: http://www.daijiworld.com/news/news_disp.asp?n_id=184423

Chủ Nhật, 18 tháng 8, 2013

Further Fall in Real and Rupee

August 16th, 2013

Despite Euro is strengthening against the Dollar, Brazilian Real and Indian Rupee are still moving downwards against the US currency.

The current Forex situation may not harm the kernel market but there is no rush to buy raw cashew in the Flores region of Indonesia.

Only the Crop diversification can reduce the over dependency on cashew nut in some West African countries, especially in Guinea Bissau and Ivory Coast.
Source: World Cashew

Festive Buying Began Again With the Arrival of the Shravana Month

August 12th, 2013
In India, this year’s Ramadan consumption is said to be slightly below market expectations. Most probably, this is because of the over optimism and not on account of the actual fall in consumption.


North Indian Kernel buyers are back in action but still there is no aggressive mood in their approach. Premium quality exporters think that this is the time to go for aggression, so they are the main buyers.
Source: World Cashew

Guinea-Bissau seeks food aid due to plunging cashew price

 

Web, Aug 14 2013

The plunging world price of Guinea-Bissau's main export crop cashew nuts has prompted the West African country to seek international food aid to help its hard-pressed farmers. Cashew production, most of which is shipped to India, accounts for around 90 percent of Guinea-Bissau's export revenues and employs some 80 percent of its population of 1.6 million.



However, lagging demand has seen a government-fixed indicative price fall from 250 CFA francs ($0.51) per kg (2.2 lb) to 75 CFA/kg over the past two years, slashing the purchasing power of rural farmers in one of the world's poorest countries. Almost half the population is facing food shortages, according to a July report by United Nations agencies.

Wedged between Guinea and Senegal, Guinea-Bissau has long been plagued by political instability and has become a major transit point for South American cocaine trafficked to Europe. The country was plunged into turmoil in April 2012 when soldiers ousted interim President Raimundo Pereira and Prime Minister Carlos Gomes Junior days before a runoff election Gomes Junior was favoured to win.

The military takeover led to sanctions and a suspension of aid by donors. Many - including the European Union, once a source of hundreds of millions of dollars in aid - refuse to recognise the transitional administration set up in the wake of the coup.

Sambu said the Bissau authorities were seeking funding for an emergency plan to finance the education, health, food and energy sectors. However, the head of the cashew merchants' association accused the government of opposing the distribution of 5 billion CFA francs in subsidies to merchants intended to boost farmer prices.

Source: www.trust.org

Cashew kernel prices to rise 10% on festive demand


Thu, Aug 15 2013

Cashew kernel prices are set to increase 10 per cent in the wholesale markets, as the festival demand for the nut is increasing. This will be the second increase in the past month. Traders are also trying to cover their cost of imports and processing, as rupee depreciation has put pressure on both. The prices are currently at ` 550 a kg, while the broken nuts are sold in the range of ` 350-400 a kg in major wholesale markets.



Prices were ` 445 a kg in March this year and had seen downward movement due to subdued demand from stockists and retailers. However, the rupee depreciation in the recent past has impacted the prices, as the cashew processing industry imports more than half of its annual raw nut requirement of 700,000-800,000 tons.

Currently, cashew kernels are traded at ` 550-600 a kg, depending on the grades in wholesale markets across the country, showing an increase of 23 per cent compared to ` 445 a kg in March this year. Just a month ago, the prices were ruling at ` 525 a kg. The broken grades of cashew kernels are traded at ` 350-400 a kg, against` 280 a kg in March, showing an increase of 42 per cent.

"The availability of large wholes is tight and demand for good quality brokens is good. Prices have gone up by 10 per cent in the past month and another 10 per cent rise is possible in the next one month as the festival season has begun. A weaker rupee has also made imported nuts expensive," said Pankaj Sampath of Samsons Traders, a Mumbai-based commodity brokerage house. Besides cashew kernels, prices of other major imported nuts like almond and pistachios have increased in the past month. Currently, almond prices are quoted at ` 590 a kg. Pistachios are traded at ` 1,250-1,300 a kg.

"Almond prices have been rising this year and they are set to hit an all-time high of over ` 600 a kg this year. Though the wedding season is almost over for this year, the shravana (Saavan) month has just begun and by the Ganesh festival, another ` 20-30 a kg increase is possible," Rahul Kamath, Partner, Bola Surendra Kamath & Sons, a Mangalore-based trader of dry fruits said.

India's domestic consumption of cashew kernels has been rising over the past few years and this year it is likely to be 190,000 tons. India exports 115,000 tons of cashew kernels. The domestic cashew processing industry requires 1.4 million tons of raw cashew nuts, whereas the domestic production is almost stagnant at 700,000 tons annually.

SourceBusiness-Standard.

Cashew declines on sluggish demand

Tue, Aug 13 2013


Cashew prices fell by ` 5 per kg in the national capital today owing to sluggish demand from retailers and stockists. Sufficient stocks position following increased arrivals from producing belts also weighed on the cashew prices.



Cashew kernel (No 180, 210, 240 and 230) prices fell by ` 5 each to settled at ` 795-910, ` 745-810, ` 585-600 and ` 550-610 per kg, respectively. Marketmen said fall in demand from retailers and stockists against adequate stocks, mainly led to the fall in cashew kernel prices on the wholesale dry fruit market here.

The following are today's quotations (per 40 kg): Almond (California) ` 16,200 Almond (Gurbandi-new) ` 8,000-8,400; Almond (Girdhi) ` 4,700-5,200; Abjosh Afghani ` 8,000-20,000. Almond Kernel (California-new) ` 575-595 per kg, Almond Kernel (Gurbandi-new) ` 500-540 per kg.

Source: The Hindu

Cashew market may turn buoyant on supply woes

Tue, Aug 13 2013


The domestic cashew market witnessed sporadic activities in recent days while the availability of large wholes is tight and at the same time demand for good quality broken is good, according to trade sources. Prices have been steady with some upward movement for some origins and grades. There is a wide range of prices with the difference of 10 to 12 per cent between the highest and lowest traded price for the same grade on the same day.



“This shows that people are willing to pay the value for the right product,” Pankaj N. Sampat, a Mumbai- based dealer told Business Line. “There has been a fair amount of activity in the kernel market during June/July without any change in the price range,” he said.

Range of cashew prices an lb were: W240 $3.75-3.90, W320$3.20-3.40, W450 $2.95-3.10, SW320 $3-3.10, splits $2.25-2.30 and pieces $1.50-1.55. In the last couple of weeks, some processors have sold W320 at lower end of the range for nearbys but prices for other grades, and W320 for forward positions have been very steady.
Active RCN market

Raw Cashew Nut (RCN) market has been reasonably active. Vietnam processors have been buying regularly. Availability is adequate but it is mainly low yielding product. Availability of good quality RCN is limited and prices for that have moved up a bit in the last two weeks. Current price range is from $700- 1,000 a tonne (c&f) depending on origin, quality, destination, terms.

On the supply side, there are some indications that 2013 crop in Brazil should be close to normal and in any case, better than the disaster of 2012. The trader feels that “downside on RCN prices is limited because there is not much available for India and Vietnam till the 2014 crops. East Africa and Indonesia are less than 15 per cent of the global production. Any further decline in prices could adversely affect collections in 2014,” he said.

“Aug-Oct will tell us whether prices will break the $3.50/lb barrier in 2013 or remain in the current range”. If Asian, especially Indian, demand picks up in the next 4-6 weeks, it would keep many Indian processors away from the international market.

That might mean some increase in kernel prices when the US and EU come in to buy for last quarter 2013 and first quarter 2014 shipments. But if the Indian demand continues to be sporadic, the trade said, “we will see the prices moving sideways in the current range. A decline is possible only if Indian demand is soft which is unlikely considering that all other nut prices are substantially higher, at least in India, than 2012,” they said.

Source: Hindu business line.

Call for renewed focus on cashew cultivation in Dakshina Kannada

Mangalore, Aug. 12:


Speakers at a workshop on ‘Rejuvenation of cashew plantations and bee-keeping’ stressed the need for increased focus on cashew cultivation.Inaugurating the workshop, B. Ramanatha Rai, Karnataka Forest Minister and in-charge of Dakshina Kannada district, said that the district has a large number of farmers with small landholdings, who find traditional crops such as paddy unviable.In such a situation, these farmers should focus on horticultural crops such as cashew for their development, he said.Presiding over the programme, J.R. Lobo, MLA from Mangalore (South), said cashew has been helping farmers in the district for the past several years. Farmers can get good yield with minimum labour. So it is necessary to rejuvenate cashew plantations in the region, he said.



Lobo also stressed the need for more focus on bee-keeping activities in the district.Yogesh H.R., Deputy Director, Department of Horticulture, said there were plans to bring around 750 hectares of land in the district under the cashew plantation rejuvenation programme.Rithesh Shetty, vice-president of the Dakshina Kannada Zilla Panchayat, said that due to the shortage of cashew production in the State, cashew processing units are importing it from other countries. Farmers should give more stress on developing cashew plantations in the region, along with other crops such as arecanut and cocoa, he said.

Source: http://www.thehindubusinessline.com

Chủ Nhật, 11 tháng 8, 2013

SAMSON'S: CASHEW MARKET REPORT - AUG 10, 2013

AUG 10, 2013

FOB prices in Week 32 :
 
W240          US$ 3.75 to 3.85
W320          US$ 3.25 to 3.40
W450          US$ 2.95 to 3.10
SW320        US$ 3.00 to 3.10
SW360        US$ 2.85 to 2.90
SSW            US$ 2.40 to 2.50
Butts           US$ 2.40 to 2.45
Splits          US$ 2.25 to 2.30
Large Pieces US$ 1.50 to 1.55


During week 32, range of cashew prices has been W240 from 3.75 to 3.90, W320 from 3.20 to 3.40,  W450 from 2.95 to 3.10, SW320 from 3.00 to 3.10, Splits from 2.25 to 2.30 and Pieces from 1.50 to 1.55 FOB.
 
There has been a fair amount of activity in the Cashew kernel market during June/July without any change in the price range.  In the last couple of weeks, some processors have sold W320 at lower end of the range for nearbys but prices for other grades, (and W320 for forward positions) have been very steady.
 
There has been sporadic activity in the Indian domestic market. Availability of large wholes is tight and demand for good quality brokens is good. Prices have been steady with some upward movement for some origins and grades. There is a wide range of prices – difference of  10 to 12% between the highest and lowest traded price for the same grade on the same day.  This shows that people are willing to pay the value for the right product. 
 
RCN market has been reasonably active. Vietnam processors have been buying regularly. Availability is adequate but it is mainly low yielding product.  Availability of good quality RCN is limited and prices for that have moved up a bit in the last two weeks.  Current price range is from US$ 700 to US$ 1000 C&F depending on origin, quality, destination, terms.
 
As reported earlier, we have seen a fairly stable kernel market for more than a year moving within a plus/minus 5% range – low of 3.20 and high of 3.50 FOB for W320 with most of the business being done in the 3.25-3.40 range. This indicates that market seems to have adjusted to this as the “new normal “ and unless something dramatic happens, it is unlikely that this range will be broken (on either side).
 
On the supply side, there are some indications that 2013 crop in Brazil should be close to normal – in any case, better than the disaster of 2012.  We feel that downside on RCN prices is limited because there is not much available for India & Vietnam till the 2014 crops (East Africa & Indonesia are less than 15% of the global production) and any further decline in prices could adversely affect collections in 2014.
 
On the external side, although there is no improvement in economic conditions, there are no negative developments. No bad news is good news !! In general, food prices are steady. Prices of almost all other nuts are steady or going up.
 
In the last few weeks, there seems to be some buying interest for longer spreads.  Since buyers are able to continuously buy for nearbys within a range, most of them are reluctant to pay premium to secure forward cover. But, some buyers have been covering portion of their requirements for 2014 at slightly higher levels.
 
Aug-Oct will tell us whether prices will break the 3.50 barrier in 2013 or remain in the current range.  If Asian (especially Indian) demand picks up in the next 4-6 weeks, it would keep many Indian processors away from the international market.  That might mean some increase in kernel prices when USA & EU come in to buy for last quarter 2013 and first quarter 2014 shipments.   But if the Indian demand continues to be sporadic, we will see the prices moving sideways in the current range.  A decline is possible only if Indian demand is soft which is unlikely considering that all other nut prices are substantially higher (at least in India) than 2012.
 
At the cost of being a “ stuck record (or CD) “ - we would like to re-state our gut feeling that downside from current levels is limited… and  market will probably see a gradual price increase later in the year or early next year.
 
Pankaj N. Sampat | SAMSONS TRADERS

India: Cashew rises on increased buying



Cashew prices rose by Rs 5 per kg in the national capital today largely on the back of increased buying by retailers and stockists amid low stocks.



Tight supplies from growing regions also supported the upside in prices.

Cashew kernel No 180, No 210, No 240 and No 320 rose by Rs 5 each to conclude at Rs 800-915, Rs 750-815 Rs 600-660 and Rs 550-610 per kg, respectively.

Marketmen said increased buying by retailers and stockists against tight supplies from growing regions, mainly pushed up cashew prices to rise.

The following are today’s quotations (per 40 kg): Almond (California) Rs 16,200 Almond (Gurbandi-new) Rs 8,000-8,400; Almond (Girdhi) Rs 4,700-5,200; Abjosh Afghani Rs 8,000-20,000.
Almond Kernel (California-new) Rs 575-595 per kg, Almond Kernel (Gurbandi-new) Rs 500-540 per kg.

Source: Business Line

ACA Targets 100,000MT Of Cashew By 2020

09 August 2013

The African Cashew Alliance (ACA) yesterday set an ambitious target of achieving additional 100,000 metric tonnes of processed cashew by 2020.

Currently, the volume of raw cashew nut processed in Africa is about 75,000 metric tonnes.
  
Mr Christian Dahm, Senior Director at the ACA, who made this known at a news conference in Accra, said the Alliance had rolled out two-pronged strategy to enable the corporate entity to meet the deadline.
  
He said access to finance as well as quality food safety standards and traceability are part of the strategies.
  
Mr Dahm said the Alliance is committed towards working with cashew chain stakeholders to promote the growth of the industry.
  
He said the body would administer technical support to Government and the private sector to maximise value addition and jobs creation on the African continent.
  
Mr Dahm said ACA is committed to apply basic food safety measures and to continuously upgrade the standard of facilities.
  
He said the prospects of the cashew industry on the Continent is high, stressing that almost two million farmer households in 11 African countries supply raw cashew nut to cashew processing factories in Africa and to the rest of the world.
  
“By 2020, the African cashew industry aims to process 35 per cent of Africa’s tree yield and significantly increase the world market share of cashew kernels from Africa.
 
 “This would result in more than $200 million in added value which would translate into more than 100,000 new jobs and increased incomes for millions of cashew farmers,” he said.
  
Mr Dahm expressed optimism that soon Ghana would serve as the regional hub for the cashew industry due to the country’s democratic credentials, conducive business environment and economic prospects.
   
He said one of Brazil’s leading cashew businesses, is to set up a 35,000-metric-tonne capacity facility at Prampram, in the eastern suburb of Accra.
 
The project is expected to create 2000 direct jobs and other auxiliary employment opportunities.
   
Mr Windred Osei Owusu, Acting President of the Ghana Cashew Industry Association, called on the media to sensitise the public on the economic and the nutritional value of cashew products.
  
He also called for diversification of export activities to include more non-traditional export commodities such as cashew.
  
Alhaji Arz Salifu, Deputy Director at the Office of the Chief Director of Ministry of Food and Agriculture, underscored the importance of Government’s interventions to revive the cashew industry.
 
 The projects include the Cashew Development Project.

Source: GNA

Guinea-Bissau seeks food aid due plunging cashew price

BISSAU/DAKAR | Thu Aug 8, 2013

Aug 8 (Reuters) - The plunging world price of Guinea-Bissau's main export crop cashew nuts has prompted the West African country to seek international food aid to help its hard-pressed farmers.

Cashew production, most of which is shipped to India, accounts for around 90 percent of Guinea-Bissau's export revenues and employs some 80 percent of its population of 1.6 million.
However, lagging demand has seen a government-fixed indicative price fall from 250 CFA francs ($0.51) per kg (2.2 lb) to 75 CFA/kg over the past two years, slashing the purchasing power of rural farmers in one of the world's poorest countries.
Almost half the population is facing food shortages, according to a July report by United Nations agencies.
"Bissau urgently needs short-term food aid to alleviate the shortage of staple foods that has hit the rural population," Soares Sambu, Guinea Bissau's economy and social integration minister, said during a meeting with donors on Wednesday.
Wedged between Guinea and Senegal, Guinea-Bissau has long been plagued by political instability and has become a major transit point for South American cocaine trafficked to Europe.
The country was plunged into turmoil in April 2012 when soldiers ousted interim President Raimundo Pereira and Prime Minister Carlos Gomes Junior days before a runoff election Gomes Junior was favoured to win.
The military takeover led to sanctions and a suspension of aid by donors. Many - including the European Union, once a source of hundreds of millions of dollars in aid - refuse to recognise the transitional administration set up in the wake of the coup.
Sambu said the Bissau authorities were seeking funding for an emergency plan to finance the education, health, food and energy sectors.
However, the head of the cashew merchants' association accused the government of opposing the distribution of 5 billion CFA francs in subsidies to merchants intended to boost farmer prices.

"35,000 tons of raw cashew remain in the villages. (We) require that the transitional authorities release the funds to improve the situation," Malam Nanco said at a news conference. ($1 = 492.4970 CFA francs) (Reporting by Alberto Dabo and Misha Hussain; Editing by Joe Bavier and Michael Roddy)
Source: Reuter