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 Hai, 30 tháng 9, 2013

Cashew rises on fresh buying


Sat, Sep 28 2013

Cashew prices rose by 5 per kg in the national capital on Saturday largely on the back of increased buying by retailers and stockists amid low stocks. Tight supplies from growing regions also supported the uptrend in prices.



Cashew kernel No 180, No 210, No 240 and No 320 rose by ` 5 each to conclude at ` 825-950, ` 765-845 ` 635-695 and ` 580-645 per kg, respectively.

Marketmen said fresh 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) ` 17,200 Almond (Gurbandi-new) ` 8,200-8,600; Almond (Girdhi) ` 4,800-5,300; Abjosh Afghani ` 10,000-22,000.

Almond Kernel (California-new) Rs 590-615.

Source: The Hindu

Nigeria: Ogun To Establish 50 Hectare Cashew Plantation


Fri, Sep 27 2013

The Ministry of Agriculture in Ogun State has started the clearing and ploughing of a large expanse of land in Afon, Imeko – Afon Local Government Area of the State where it intends to establish a 50-hectare cashew plantation.



Conducting newsmen round the site, Commissioner for Agriculture, Mrs. Ronke Sokefun said the gesture is another demonstration of the government to make the State self-sustaining in agricultural production and transform it into another food basket of the nation. It will be recalled that the State government had some weeks back embarked on the cultivation of a 100-hectare rice plantation in Eggua in Yewa North Local Government Area with a plan to also establish a rice processing factory in the same location next year.

Sokefun revealed that a ground-breaking and planting ceremony to flag off the cashew plantation would hold next month, expressing optimism that when it becomes fully operational, it would serve the immediate needs of cashew processing factories in the country and increase the State’s Internally Generated Revenue (IGR). She therefore enjoined inhabitants of Afon and its environment to protect the plantation jealously as it would provide employment opportunities for youths and experienced farmers in the area.

Fielding questions on the Eggua rice plantation, Sokefun said all the structures that would sustain it have already been put in place, reiterating government’s determination to sustain all its innovative agricultural efforts in different parts of the State. Meanwhile, Mrs. Sokefun has assured that the State Government will continue to partner with reputable international organisations in its bid to improve the agricultural and industrial  base of the state.

Sokefun made the position of government known today in Abeokuta while hosting a team of Chinese businessmen from Guangdong Province with interest in agricultural development. She said it is the desire of Governor Ibikunle Amosun to leave behind a remarkable legacy in the agricultural and industrial sectors of the state’s economy.

The Commissioner assured her guests of bountiful returns on their investments, pointing out that structures are already in place to ensure this. Responding, leader of the Chinese delegation, Mr. John Xue affirmed that his team was ready to invest in food processing and the provision of fertilizers to increase agricultural produce.

Source: http://www.channelstv.com/home/2013/09/27/ogun-to-establish-50-hectare-cashew-plantation/

India: Chandy calls for steps to modernise cashew industry


Fri, Sep 27 2013

Chief Minister Oommen Chandy said here on Thursday that the skill of Kerala-based cashew workers in the processing industry was the State’s trump card in competing with other cashew producing regions and countries.



He was addressing the gathering after inaugurating a two-day international cashew buyer-seller meet organised by the Cashew Export Promotion Council of India (CEPCI).

Mr. Chandy, at the same time, said the industry had of late begun to face a shortage of skilled labour. Hence, it should look forward to mechanisation to overcome international competition. The Twelfth Five-Year Plan envisaged major assistance to modernisation programme of the cashew industry and the processing sector should take advantage of it, he said.

Mr. Chandy said the Kerala government was taking keen interest in the development of the cashew industry. Kerala was the only State that had cashew factories in the public sector. The State was also a major producer of raw cashew. However, due to scarcity of land, production had come down. Mr. Chandy called upon farmers to cultivate high-yielding cashew varieties on available land. The government was taking special efforts to increase raw cashew production. The State also has an exclusive agency for it, he said.

Mr. Chandy expressed concern at the import of cashew kernels on the sly from other cashew producing countries. He said it posed a grave threat to the domestic industry. Being the major cashew processing State of the country, the Kerala government had taken up the issue with the Centre and expected quick action, he said. Director General of Foreign Trade Anoop K. Pujari spoke. CEPCI chairman Harikrishnan Nair presided over the function.

Source: thehindu.com

Pieces Steady, Wholes Dull, Raw Cashew Active


Fri, Sep 27 2013

Despite supply shortage, there is slight slowdown in the Indian cashew kernel. Flood situation in Gujarat is said to be the main reason for the temporary slowdown. But demand for pieces is increasing as there is no piled up stocks in any grades of  large white pieces.



Some processors are rushing for raw cashew, expecting a big jump in the kernel market during the first week of October, i.e from October 4, 2013.

Source: www.worldcashew.com

Raw Cashew Import is Nothing but a Huge Loss to the Indian Forex Treasury


Thu, Sep 26 2013

In India, many small and medium scale processors are now purchasing imported raw cashew nuts from their nearest import re-sellers. Slight rise in demand is mostly due to -1) Increasing automatic processing. 2) Active kernel market. 3) Costly imports and 4) Similar Trends in other dry fruits. Raw cashew import is nothing but a huge loss to the Indian Forex treasury.



The Government of India may shortly take some daring steps to reduce unnecessary imports.  At present there is no Import tax, no VAT, no CST and no APMC tax on raw cashew imports in India.

Source: www.worldcashew.com

Thứ Tư, 25 tháng 9, 2013

Raw Cashew Import is Nothing but a Huge Loss to the Indian Forex Treasury

 September 25th, 2013

In India, many small and medium scale processors are now purchasing imported raw cashew nuts from their nearest import re-sellers. Slight rise in demand is mostly due to -1) Increasing automatic processing. 2) Active kernel market. 3) Costly imports and 4) Similar Trends in other dry fruits.

Raw cashew import is nothing but a huge loss to the Indian Forex treasury. 
The Government of India may shortly take some daring steps to reduce unnecessary imports. 

At present there is no Import tax, no VAT, no CST and no APMC tax on raw cashew imports in India. 
Source: World Cashew

Brazil's cashew prices hold firm on concerns over lack of rain


Wed, Sep 25 2013

Although cashew harvesting is already under way in Ceará state, Brazil's largest producer of the crop, cashew nut prices are still going northwards because of concerns that low rainfall could again limit yields in some regions.



Strong demand for cashew nuts pushed up prices in two of the three leading producer states in Brazil in August, according to a new monthly report issued by the country's National Supply Company (CONAB).

Source: http://www.agra-net.com/portal2/pl/home.jsp?template=newsarticle&artid=20018074312&pubid=ag047

United States provides aid of US$15 million for cashew production in Mozambique


Wednesday, September 25, 2013

The United States government plans to donate US$15 million to Mozambique to support cashew production via the “Food for progress” programme of the Department for Agriculture, said the US embassy in Mozambique. In a statement, the embassy said that the aid was intended to boost productivity of the cashew sector, as well as to expand its sale and improve the product’s access to the market.



The announcement was made at the end of a visit to agricultural projects in Nampula, in Northern Mozambique, byb a team headed up by the Assistant secretary of state for the United States Agricultural Department, Krysta Harden. According to the statement, the funding will also benefit producers and small and medium-sized companies that process cashew nuts, which is one of Mozambique’s most important product, which it exports to the European Union, the United States and the Middle East.

In 1974, Mozambique was the world’s largest cashew nut producer, producing 42.7 percent of the world’s cashews and, after independence, in 1975, the government adopted protectionist measures, which prevented unprocessed cashews from being exported.

Problems with financing the economy and inefficient production processes led to a downturn in the sector and the industry in the 1980s, which led to its total disappearance, with factories closing and thousands of people made unemployed.

In June of this year, the president of the National Cashew Institute (Incaju), Filomena Maiopué, estimated that cashew production in Mozambique this year would total 110,000 tons, recovering from poor performance in 2012, in which the country produced just 64,000 tons of cashews. (macauhub)

Source: macauhub.com.mo

Thứ Hai, 23 tháng 9, 2013

Vietnam: Cashew exports likely to boom towards end of year

Sep. 21, 2013
HA NOI  — Cashew exports will pick up in the remaining months of this year, the Viet Nam Cashew Association has forecast.

The association cited increasing prices of exported cashew nuts in recent months as strong evidence of an imminent upturn.
The export price of cashews, which averaged less than US$6,300 per tonne in the first two quarters, had risen to $7,600 per tonne by early August.
Over the past eight months, Viet Nam has exported 168,000 tonnes of cashew nuts, earning US$1.07 billion, 18 per cent higher in volume and 10 per cent up in value over the same period last year. 
Source: Biz Hub

Chủ Nhật, 22 tháng 9, 2013

Ghana: Cashew festival opens in Accra

Wed, Sep 18 2013


The first-ever cashew festival and Expo 2013 has opened in Accra, with an assurance from the government to support the industry with a stimulus package. ccording to the Minister of Trade and Industry, Mr Haruna Iddrisu, who gave the assurance, the move was to support stakeholders in the cashew industry to improve production, processing and export of the commodity.



The four-day festival, organised by the African Cashew Alliance (ACA), is expected to help cashew farmers, processors, traders, exporters, service providers, retailers, equipment manufacturers and bankers to fashion innovative ways to improve and sustain the industry. Over 450 participants from 50 countries are taking part in the conference, which is on the theme; “Value Chain and Gains-Focusing on the Potential to Leverage Profit in Each Sector of the Cashew Industry in New Markets”.

The conference will also give the farmers the platform to explore innovative business prospects in areas such as beekeeping and production of cashew-apple juice. Mr Iddrisu said the government remained committed to roll out a divestiture of the cashew industry to promote growth and sustainability, adding that the government would provide the appropriate incentives to enable their businesses to thrive.

The incentives, he said, would include tax holidays, the free zone enclave instrument and assurance to repatriate profit. In his address, the acting President of the Ghana Cashew Industry Association, Mr Windfred Osei-Owusu, called on financial institutions to facilitate access to credit for cashew farmers to enable them to expand their businesses.

He said cashew farmers were credit-worthy and were noted for 100 per cent loan repayment. Mr Osei-Owusu said this was because they were well-organised, had well-established markets, enough local processing capacity, strategic linkages in the value-chain and interventions of government through the cashew development programme (CDP).

According to him, the CPD had been implemented by the government to improve living conditions of cashew farmers and their households to enhance food security and increase foreign exchange earnings. Mr Osei-Owusu said stakeholders in the industry expected that Ghana could add 25,000 metric tonnes of processing raw cashew nut to the current 27,000 metric tonnes of processing capacity to enable the country to become the biggest processing-capacity country in Africa.

He called on members of the association to abide by ACA’s code of conduct which included respect for food safety, environment and fair price for farmers.

Source: http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=286176

Ghana: Tax incentive for cashew investors

Wed, Sep 18 2013


Government has expressed its readiness to offer tax exemptions to investors who will consider venturing into cashew production and processing. The Minister of Trade and Industry, Haruna Iddrisu, who disclosed this at the opening of the 2013 World Cashew Festival in Accra, said although the country has improved its production to 50,000 metric tons of raw cashew more could be done to make Ghana a leader in cashew export industry.



So far, about $25 million has been invested in the cashew processing in the country. “Ghana is still a stable destination to do business. We are ready to give free zone status to any company, which wants to add value to cashew by producing in Ghana, particularly for export,” Mr. Iddrisu said.

The world cashew festival brings together cashew farmers, processors and traders, service providers and retailers, equipment manufacturers and other players in the cashew business to dialogue on the way forward and enhance the growth and sustainability of the cashew industry in Africa and the world.

Officially opening the four-day festival, the sector minister said government has launched a national export strategy, which seeks to increase the volume of exports from $2.5 million to $5 million by the end of 2017.

He stated that Ghana is making significant strides in promoting the development and growth of cashew. “We are looking forward to working with processors, manufacturers and exporters to make Ghana a major exporter and processor of cashew.”

He said plans are far advanced to diversify the production of cashew by giving out some stimulus package to Ghanaian entrepreneurs in the cashew industry to support their businesses.

Deputy Agriculture Minister, Dr. Ahmed Alhassan Yakubu, in a remark, said Ghana’s cashew business has increased over the decades from 18,000 hectares in 2000 to 75,000 hectares in 2012.

He therefore urged participants to take advantage of the opportunity and learn to make the local cashew market sustainable. Georgette Taraf, ACA President said since the festival began eight years ago, the alliance has seen its share of success in the cashew market. “The ACA seal programme continues to grow with seven processors currently participating in the programme and four others who have completed it,” she said.

Source: http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=286218

White Tea vs W180

September 21st, 2013

The comparison between W180 and any superior white tea may be a joke as cashew and tea are categorically different from one another.

But some similarities can be established as both belong to the expensive food and beverage items. When there are lavish spenders who can purchase the ‘Superior Grade Virgin White Tea’ around $1500/kilo, Why the price of the most scarce grade cashew kernel W180 should be just around Rs 9500-11000 for a Tin/Premium/11.340 kgs?

The percentage of the ‘Premium Grade W180′ is less than 2% of the global kernel production! Therefore if there is a collective effort, processors can fix $15/pound for the ‘Premium W180 Grade (Japan Export Quality),’ for the global markets and Rs 25000/Tin/!11.340kgs, in the Indian Markets.
Source: World Cashew

African Cashew-Nut Producers Seeks to Add Value to Boost Revenue

By Ekow Dontoh - Sep 19, 2013

African cashew-nut producers could triple revenue from exports in the next seven years by increasing processing capacity and adding value to the crop, according to the African Cashew Alliance, an industry group.

The target is to process half of the continent’s cashew crop locally by 2020 from about 10 percent of output currently, Georgette Taraf, the alliance’s president, said on Sept. 17 in an interview in Ghana’s capital, Accra.
Economies in Africa are seeking to remove bottlenecks hindering growth in the manufacturing industry and help ramp up the processing of raw goods before export. Value addition, as it’s known, helps producers maximize returns and lessen the risk of price fluctuations in commodity markets.
Ivory Coast, the top cashew-nut exporter in sub-Saharan Africa, produces about 450,000 tons of the crop a year, followed by Guinea Bissau at 150,000 tons and Tanzania at 140,000 tons, Xenia Defontaine, public relations manager for the alliance, said in an interview in Accra yesterday.
Other producers on the continent are Benin, Nigeria, Mozambique and Ghana, Kenya, Guinea,Madagascar, Senegal and Burkina Faso, according the Food and Agriculture Organization.
“In Ivory Coast, we target to process about half of our entire cashew crop within three years,” Jean Claude Brou, the country’s minister of industry and mines, said in an interview on Sept. 16.
To contact the reporter on this story: Ekow Dontoh in Accra at edontoh@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter atccarpenter2@bloomberg.net
Source: Bloomberg

Cashew rises on fresh buying, low stocks


Cashew prices rose up to Rs 10 per kg here on Saturday largely on the back of an 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 up to Rs 10 to conclude at Rs 830-955, Rs 770-850, Rs 640-700 and Rs 585-650 per kg, respectively.
Marketmen said that the fresh 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 16,800 Almond (Gurbandi-new) Rs 8,100-8,500; Almond (Girdhi) Rs 4,700-5,200; Abjosh Afghani Rs 10,000-22,000.
Almond Kernel (California-new) Rs 585-605 per kg, Almond Kernel (Gurbandi-new) Rs 500-530 per kg.
Source: Business Line

Thứ Năm, 19 tháng 9, 2013

Higher Grades Reach All-time High in India

September 13th, 2013


Premium W180 has crossed Rs10000/11.34kg/Spot/Goa-Mangalore.
Premium W240 is trading around Rs7250-7350/11.34kg/Spot/Goa-Mangalore.

Premium W320 is also following the bullish trend. But prices may be around Rs6300-6350 for small quantities.
Source: World cashew

India: Import duty on apples & cashews likely to be raised

Wed, Sep 18 2013


The government is mulling over hiking the import duty on non-essential items, including fruit such as apples, dry fruit and nuts (including cashew nuts), following the skyrocketing import bill, that has led to a ballooning trade deficit and current account deficit (CAD). However, the duty would be applicable only to companies that have an annual import bill of $1 billion or more.



India: Import duty on apples & cashews likely to be raisedWhile the move will affect only non-essential items, it is likely to dent the food processing business further, as companies that need to use imported fruit, dry fruit and nuts in their products would find it to be a severe strain on their margins.

Speaking on the condition of anonymity, an official from the finance ministry informed FnB News that a number of steps were being taken to restrict the import of non-essential goods and items like cashew nuts. However, some items, like fruit and nuts, were included in broader categories of import.

A link sent to FnB News via e-mail from the commerce ministry stated that only after a review of the current situation, and an assessment of the trade deficit for the quarter ended September 2013, would the ministry be in a position to increase the import duties. The hike would only come into effect after October 31, 2013.

In response to the government move, Lav Maheshwari, manufacturer, Rudra Agro International, Ahmedabad, said, “It would become very difficult for us to import items like cashew nuts, nuts, fruit and other non-essential items in the near future. We have already limited their import due to the heavy burden of many duties, and now the hike in import duty would further increase our burden.”

An official from Soulfoods India Pvt. Ltd, Mumbai, observed, “Since the rate of the rupee is reducing day by day in comparison with the dollar, we are already facing a burden. Raising the import duty on cashew nuts, nuts and fruit will be putting more burden on us. Hence, we have decided to stop importing these items until the rate of the rupee stabilises.”

An official from Garware Colours Ltd, which imports cashew nuts from China and Myanmar, informed FnB News that it seemed the government did not have a direction, and added that managing the trade deficit by reducing imports was an obsolete measure. He also stated that a hike in the import duty on some food items would be a burden for the industry.

Source: http://cashewnews.blogspot.in/2013/09/india-import-duty-on-apples-cashews.html

GFZB support 2013 Farmers Day

Wed, Sep 18 2013


The Ghana Free Zones Board (GFZB) has presented a cheque of GHc20, 000 to the Ministry of Food and Agriculture in support of this year’s Farmer's Day celebration slated for December. The Board’s kind gesture was in recognition of the role farmer's play in the development of the country’s economy.



Presenting the cheque at a short ceremony in Accra on Friday, the Investor Support Services Manageress of GFZB, Hajia Hanatu Abubakar said, the Board was happy to be part of this year’s farmer's day celebration and will continue to support the annual event in the coming years. She indicated that, the GFZB, which has oversight responsibility over 246 companies operating across the country, would ensure the Agric sector has the necessary investment in the coming years to bolster the country’s economy.

Hajia Hanatu revealed that a Brazilian company has shown interest in buying cashew nuts in Ghana, adding that, very soon the country will become a net exporter of cashew in the West African sub-region. The Brazilian company, USIBRASE, she disclosed has acquired 11 acres of land at Prampram in the capital region and the GFZB has already granted a license to the company to start operation.

According to her, so far, lots of investors ‘trooping’ to the country have shown interest in the Agric Sector, adding “this will boost the confidence of famers to work hard and produce more to feed the nation”. She urged farmers not to renege on their effort in ensuring the country benefit from the services.

Receiving the cheque on behalf of his Minister, the Deputy Minister of Food and Agriculture, Dr. Alhassan Ahmed Yakubu, thanked the donors for their support and promised judicious use of the money. The Deputy Minister said the NDC government would do its possible best to ensure farmers across the country benefited from the growth of the sector, and would also roll out programs and policies to bring respite to farmers.

Other organizations that have also donated towards the 2013 farmers day included, Yara Ghana, GHc10,000; ABL, 420 cartons of drinks; WEINCO Ghana, GHc15, 000 and products and souvenirs worth GHc70, 000; Ghana Civil Aviation Authority, GHc10,000 and Ghana Reinsurance Company donated GHc5000.

Source: http://www.ghanaweb.com/GhanaHomePage/regional/artikel.php?ID=286101

Ghana's Trade Minister Announces Stimulus Package For Cashew Industry

Wed, Sep 18 2013


The cashew industry would, next year, receive a stimulus package from government as an intervention measure to boost production, processing and export of the commodity. Mr Haruna Iddrisu, Minister of Trade and Industry, said this at the opening of a four-day Cashew Festival and Expo 2013 event organised in Accra to help participants to develop the value chain process. The event, organised by the African Cashew Alliance (ACA), is expected to help cashew farmers, processors, traders, exporters, service providers, retailers, equipment manufacturers and bankers to fashion out innovative ways to improve and sustain the industry. Mr Iddrisu said government remained committed to roll out a divestiture of the cashew industry to promote growth and sustainability.



He told the more than 450 conference participants that government would provide the appropriate incentives to enable their businesses to thrive. The incentives would include tax holidays, the free zone enclave instrument and assurance to repatriate profit.
Madam Patricia Alsup, Charge D’Affaires of the United States Embassy, said cashew production had merged business and developmental goals in Ghana. She said the Ghanaian solid infrastructure and business environment provided the right investor interest in cashew.

Speaking on the Multiplier Effect of Processing Cashew Nut in Africa, a study by the West Africa Trade Hub, Madam Alsup said the research concluded that for every 1000 dollars worth of raw cashews sold in the village, 1,430 dollars were generated in the form of additional family income and 120 jobs in the community. “The same sale of raw cashews for processing generates $2,000 in additional local community income through the creation of additional jobs and exportation of the value added product,” she said. Mr Windfred Osei-Owusu, Acting President of the Ghana Cashew Industry Association, called on financial institutions to augment access to credit to the cashew farmers to enable them to expand their businesses.

He said cashew farmers were credit-worthy and were reputable for 100 per cent loan repayment.
Mr Osei-Owusu said this was because they were well-organised, had well-established markets, enough local processing capacity, strategic linkages in the value-chain and interventions of government through the Cashew Development Programme (CDP). The CDP had been implemented by government to improve living conditions of cashew farmers and their households, enhance food security and increase foreign exchange earnings. Mr Osei-Owusu said stakeholders in the industry expected that Ghana could add 25,000 metric tons of processing raw cashew nut to the current 27,000 metric tons of processing capacity to enable the country to become the biggest processing-capacity country in Africa.

He called on members of the Association to abide by ACA’s code of conduct which includes respect for food safety, environment and fair price to farmers. The conference, on the theme: “Value Chain and Gains-Focusing on the Potential to Leverage Profit in Each Sector of the Cashew Industry in New Markets,” is expected to give farmers the platform to explore innovative business prospects in the areas such as beekeeping and production of cashew-apple juice.

Ghana produced more than 20,000 metric tons of raw cashew nuts in the year 2012, with her production largely centred in the Brong Ahafo Region.

The country is considered to be the hub for trading cashews by neighbouring countries including Cote d’Ivoire and Burkina Faso.

In total, more than 80,000 metric tons of raw cashew nut was exported in 2011. On the processing side, Ghana has an installed processing capacity of more than 18,000 metric tons.

Source: GNA

To reduce CAD, import duty on cashew nuts likely to be raised


Tue, Sep 17 2013

The government is mulling hiking the import duty on non-essential items, including fruit, dry fruit and nuts (including cashew nuts), following the skyrocketing import bill, that has led to a ballooning trade deficit and current account deficit (CAD). However, the duty would be applicable only to companies that have an annual import bill of $1 billion or more.  While the move will affect only non-essential items, it is likely to dent the food processing business further, as companies that need to use imported fruit, dry fruit and nuts in their products would find it to be a severe strain on their margins.



Speaking on the condition of anonymity, an official from the finance ministry informed FnB News that a number of steps were being taken to restrict the import of non-essential goods and items like cashew nuts. However, some items, like fruit and nuts, were included in broader categories of import.  “In 2012-13, the CAD was about 4.8 per cent of India's gross domestic product (GDP), which was a record. But in the current financial year, we are aiming to limit it to $70 billion, or 3.7 per cent of the GDP. The finance minister is trying his best, and is committed to achieving the CAD target,” he added.

Trade deficit, which is a part of the CAD, rose to $190.1 billion in 2012-13 (from $183.3 billion the previous year). This was because merchandise imports rose by 0.44 per cent during the year (to $491.48 billion from $489.31 billion the previous year), while exports fell by 1.76 per cent (to $300.05 billion from $306 billion). When asked what steps the government would take in order to achieve a reduced CAD, the official said, “We are assessing the situation, and upon the completion of the internal assessment process, senior officials from the government would be deciding the items on which import duties would be raised to rein in the soaring import bill.”

A link sent to FnB News via e-mail from the commerce ministry stated that only after a review of the current situation, and an assessment of the trade deficit for the quarter ended September 2013, would the ministry be in a position to increase the import duties. The hike would only come into effect after October 31, 2013. In response to the government move, Lav Maheshwari, manufacturer, Rudra Agro International, Ahmedabad, said, “It would become very difficult for us to import items like cashew nuts, nuts, fruit and other non-essential items in the near future. We have already limited their import due to the heavy burden of many duties, and now the hike in import duty would further increase our burden.”

An official from Soulfoods India Pvt. Ltd, Mumbai, observed, “Since the rate of the rupee is reducing day by day in comparison with the dollar, we are already facing a burden. Raising the import duty on cashew nuts, nuts and fruit will be putting more burden on us. Hence, we have decided to stop importing these items until the rate of the rupee stabilises.” An official from Garware Colours Ltd, which imports cashew nuts from China and Myanmar, informed FnB News that it seemed the government did not have a direction, and added that managing the trade deficit by reducing imports was an obsolete measure. He also stated that a hike in the import duty on some food items would be a burden for the industry.


Source: http://www.fnbnews.com/article/detnews.asp?articleid=34339&sectionid=37

Thứ Tư, 11 tháng 9, 2013

6% Appreciation in Rupee and Real in Last Few Days

September 10th, 2013

Once again there is no demand in the Indian raw cashew, mostly due to Rupee appreciation.


But the cashew kernel market is being supported by the festive demand. Premium grading W320 is trading around Rs6150/11.340 kgs/Goa-Mangalore.
Source: World Cashew

India: Buoyancy seen in domestic cashew market

Domestic cashew market, which was very quiet for several weeks, has been active during the last couple of weeks. Prices for splits and pieces have moved up by 10-12 per cent in a fortnight.

Processors expect demand and prices for wholes to pick up during the coming 2-3 weeks, market sources said.
The depreciation of the rupee since May and the volatility in the last 2-3 weeks has created an uncertainty in prices of all nuts in the domestic market but this is expected to stabilise in the current range.
However, overseas cashew markets were very quiet in August after a fair amount of activity during June-July. There has not been much change in prices. All offers at the lower end of the range, mainly nearbys, are being picked up. Prices were: W240: $3.85; W320: $3.35; W450: $3.05; SW320 $3.10; Splits: $2.30 and Pieces: $1.60 for a lb (f.o.b.).

LIMITED AVAILABILITY

The raw cashew nut (RCN) market is quiet. Availability for India and Vietnam in the next six months is limited to small quantities from Indonesia and East Africa.
Looking at the next six months, “we feel that it will be demand side which will influence the market trend and price range. Supply factors cannot have much impact since there is very little RCN, say less than 25 per cent of world production, to be traded in the next six months,” trade sources claimed.
During Sept/Oct, the trade claimed, they expect a fair amount of buying interest from roasters for first half of 2014 and traders for shipments from Oct/Nov onwards.
Unless buyers are prepared few cents higher, selling interest will be limited to nearbys, as every processor will be reluctant to sell forwards at lower levels because replacement availability is limited. If Indian demand picks up in the next few weeks as expected, it would keep many Indian processors away from the international market, they said.
According to the trade, “downside from current levels is limited.” There is a reasonable possibility of a small, gradual rise by end of the year, with a slight possibility of the market crossing the $3.50 a lb barrier. Any large increase is ruled out unless there is a big spurt in demand, they added.

G. K. NAIR

Source: Business Line

Thứ Ba, 10 tháng 9, 2013

Government urged to increase support for cashew industry


Mon, Sep 09 2013

The Executive Secretary of the Cashew Industry Association, Yayra Amedzro, has called on government and other stakeholders to continue to support the Industry as it keeps attracting investor attention.



Miss Amedzro also appealed for constant dialogue with government particularly the Ministry of Food and Agriculture to give the industry priority as one of the nation's foreign exchange earners.

Speaking to Radio Ghana on activities of the Association, Miss Amedzro said currently the industry is bringing in more than 400 million dollars in foreign exchange earnings.

Miss Amedzro touched on the importance and value of cashew as a commodity.

She also commended foreign stakeholders for their initiatives to promote cashew production in the country.

Source: http://www.gbcghana.com/index.php?id=1.1520781

Chủ Nhật, 8 tháng 9, 2013

CASHEW MARKET REPORT - SEP 9, 2013

SEP 9, 2013
FOB prices in Week 36 :
 
W240          US$ 3.75 to 3.85
W320          US$ 3.25 to 3.35
W450          US$ 2.95 to 3.05
SW320        US$ 3.00 to 3.10
SW360        US$ 2.80 to 2.90
SSW            US$ 2.45 to 2.50
Butts           US$ 2.35 to 2.45
Splits          US$ 2.25 to 2.30
Large Pieces US$ 1.50 to 1.60


During week 36, range of cashew prices was W240 from 3.75 to 3.85, W320 from 3.25 to 3.35,  W450 from 2.95 to 3.05, SW320 from 3.00 to 3.10, Splits from 2.25 to 2.30 and Pieces from 1.50 to 1.60 FOB.
 
Cashew  market was  very quiet in August after a fair amount of activity during June/July.  There has not been much change in prices.  All offers at the lower end of the range (mainly nearbys) are being picked up.  Many  buyers are reluctant to pay few cents more asked by large processors but they are able to sell reasonable volumes to regular buyers.
 
Indian domestic market which was very quiet for several weeks has been active during weeks 35/36.  Prices for Splits & Pieces have moved up by 10-12% in these two weeks.  Processors expect demand and prices for Wholes to pick up during the coming 2-3 weeks. The depreciation of the INR since May and the volatility in the last 2-3 weeks has created uncertainty in prices of all Nuts in the domestic market but this is expected to stabilise in current range.
 
The RCN market is quiet. Availability for India & Vietnam in the next six months is limited to small quantities from Indonesia & East Africa. Prices from Indonesia are high and there is uncertainty about pricing and timing of movement from Tanzania. It is expected that Brazil crop will be reasonable although it may not go back to the level of 250K plus seen few years ago.
 
During the last 12-15 months cashew market has been in the 3.20 to 3.50 range  (with a narrower 3.25 to 3.40 range in the last six months).  When prices come to 3.20 there is very limited selling interest and when prices cross 3.40, most buyers withdraw.   This is quite different from the normal trend of declines leading to selling pressure & further decline and increases resulting in more buying & fueling further increase.  This indicates that market is comfortable in the current range and unless something big happens, the range will not be broken.
 
Looking at the next six months, we feel that it will be demand side which will influence the market trend and price range. Supply factors cannot have much impact since there is very little RCN (less than 25% of World Production) to be traded in the next six months.
 
During Sep/Oct we can expect a fair amount of buying interest from roasters for first half of 2013 and traders for shipments from Oct/Nov onwards.  Unless buyers are prepared few cents higher, selling interest will be limited to nearbys as very processors will be reluctant to sell forwards at lower levels because replacement availability is limited. If Indian demand picks up in the next few weeks as expected, it would keep many Indian processors away from the international market. 
 
To sum up, our view is unchanged.  Downside from current levels is limited.  There is a reasonable possibility of a small, gradual rise by end of the year (with a small possibility of market crossing the 3.50 barrier). Any large increase is ruled out unless there is a big spurt in demand.
 
Pankaj N. Sampat | SAMSONS TRADERS

Thứ Sáu, 6 tháng 9, 2013

Tanzania: Cashew Buying Season Opens Next Monday

Fri, Sep 06 2013


THE Cashewnut Board of Tanzania (CBT) has announced 1,000/- and 800/- as indicative prices of standard and under grades of the cash crop, respectively.



During the previous 2012/2013 crop season, the indicative price was 1,200 and CBT collected 130,000 tons of the cash crop, with estimates for this crop season put at over 150,000 tons.

Speaking to reporters in Dar es Salaam, the CBT Vice Chairman, Mr Mudhihir Mudhihir said that the prices may rise or fall depending on the market forces as disused by the cashew nut stakeholders during their 2013 General Meeting in Dodoma.

"The domestic cashew prices are subject to fluctuations in the world market... farmers will get all information about exposing price which accepted." he said.

Mr Mudhihir said the meeting agreed to address all challenges faced during the past seasons, with the auctions taking place at regions' major cooperative unions under the close watch of CBT.

He declared next Monday as the season's official opening day, urging all stakeholders like banks, farmers and buyers to finalise preparations for the opening day.

CBT General Director Mfaume Juma said the board will this season construct three cashew processing industries in Mtwara, Lindi and Coast regions to ease the crop's marketing problems.

Source: http://allafrica.com/

Prospect of Ghana's cashew production high

Thu, Sep 05 2013


The prospects of Ghana's cashew production is high because the country can rake in between 300 dollars and 400 million dollars if she increases her cashew production from the current 50,000 metric tons to 200,000 tons annually.



Mr Windfred Osei Owusu, President of the Ghana Cashew Industry Association, who made the observation on Tuesday, added that the country could attain the goal if 90 per cent of the raw cashew nuts were processed.

He was speaking in Accra at the launch of the World Cashew Festival and Expo 2013 in Africa, on the theme: “Value Chain and Gains-Focusing on the Potential to Leverage Profit in Each Sector of the Cashew Industry and in New Markets.”
The event, which is expected to come off between September 16 and 19, would be organised by the African Cashew Alliance’s (ACA), to assist players in the industry to develop the value-chain process.

The four-day programme would also provide a platform for cashew farmers, processors, traders, exporters, service providers, retailers, equipment manufacturers, bankers and other stakeholders to fashion out innovative ways to improve and sustain the industry. Mr Owusu called on the Government to roll out the Cashew Development Project and similar policy interventions to sustain the industry.

He was optimistic that if the players received Government support, similar to those enjoyed by cocoa, palm and mango farmers, the cashew business would thrive. Mr Owusu appealed to Government to make funds available to cashew farmers through the Export Development and Agricultural Investment Fund. He called on the farmers to join associations and apex bodies to access technical support to build their capacity to sustain their businesses.

Mr Owusu said increased investor interest in the industry was a positive indication that the sector had much to offer in terms of job creation, poverty alleviation and income generation.
He said one of Brazil’s leading cashew businesses, was in the process of setting up a 35,000-metric-ton capacity facility at Prampram, in the Eastern suburb of Accra. Mr Owusu said he was hopeful the project would create 2000 direct jobs and other auxiliary employment opportunities and called on the media to sensitise the public on the economic and the nutritional value of cashew products.

Mr Ahmed Yakubu Alhassan, Deputy Minister of Food and Agriculture expressed Government’s commitment to partner ACA to ensure that the cashew industry became vibrant. He discredited speculations in the media that the cashew production in the country was dwindling. Speaking on the upcoming Cashew Festival, Mr Roger Brou, Managing Director of ACA, said the event would give farmers the platform to explore innovative business prospects in the industry. Beekeeping and production of cashew-apple juice are some new markets farmers could discover.

Ghana is said to have produced more than 20,000 metric tons of raw cashew nuts in the year 2012, with its production largely centered in the Brong-Ahafo Region. The country is considered to be the hub for trading cashews from neighbouring countries, including Cote d’Ivoire and Burkina Faso. In total, more than 80,000 metric tons of raw cashew nut was exported in 2011. On the processors side, Ghana has an installed processing capacity of about 18,000 metric tons.

Source: http://www.ghanaweb.com/GhanaHomePage/business/artikel.php?ID=284817