Cashew Kernel Price Today
Cashew Kernel Price Today, July 21, 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, 31 tháng 3, 2014
FOB prices in Week 13 :
W240 US$ 3.60 to 3.75
W320 US$ 3.15 to 3.30
W450 US$ 2.95 to 3.05
SW320 US$ 2.95 to 3.05
SW360 US$ 2.75 to 2.90
SSW US$ 2.40 to 2.55
Butts US$ 2.50 to 2.60
Splits US$ 2.40 to 2.50
Large Pieces US$ 1.65 to 1.75
Cashew prices – kernels and RCN – came down during Feb. There was reasonable activity in kernels and good activity in RCN during March. At the end of the month, market was steady and there was not much selling interest at lower level of the range seen in the first quarter. Indian domestic market has also been steady in a narrow range with periodic bursts of activity.
During week 13, range of offers for second quarter was W240 from 3.60 to 3.75, W320 from 3.15 to 3.30, W450 and SW320 from 2.95 to 3.05, SW360 from 2.75 to 2.90, SSW from 2.45 to 2.55, Splits from 2.40 to 2.55, Pieces from 1.65 to 1.75 FOB. Offers for second half were few cents higher.
After decline during February, RCN prices have moved up slightly in the last two weeks. Current prices are around 850 to 875 C&F for Nigeria, 950 to 975 C&F for IVC, 1075 to 1100 C&F for Ghana and around 1150 C&F for Benin. These prices are 10 to 15% higher than same time last year (whereas kernel prices are 3 to 5% lower). Such disparity cannot be sustained – something has to change.
Shipments of West Africa RCN have started. During April, we will see whether flow from IVC will be smooth despite the movement restrictions. Also, the impact of the minimum procurement price in IVC. Initial reports indicate that efforts to enforce quality standards are bearing fruit – if these translate into better realisation for the growers / collectors and are implemented on a continuous basis in all African countries, that would help to reduce inefficiencies in the supply chain.
As we move into the second quarter of the year – peak of the RCN collection season - some points to be kept in mind :
1) Processing which had gone down in the first quarter due to the huge disparity in prices should pick up pace in second quarter but the pick up is likely to be slow as there is still some disparity despite the reduction in RCN prices
2) If the RCN prices do not come down during April, shellers will find it difficult to continue buying unless kernel activity picks up and prices move up to the higher end of the 2 year range
3) The kernel market has been moving around 3.25 – plus or minus 5% - for almost two years. During this period prices of all other treenuts have moved up and are higher than 2-3 year average.
4) The stability in prices has meant continuance of the trend for regular buying of smaller volumes for shorter spreads. Buyers do not see the need to take cover for longer periods. Complacency has set in and this could prove dangerous.
In our opinion, downside from current levels is limited – at the same time, there is no reason to expect a big jump in prices. BUT, a reasonable and gradual price increase in second half of the year is definitely possible unless the RCN prices come down significantly in Apr/May. Decline in RCN prices after May will not have any major impact because that will be accompanied by decline in kernel yields.
To repeat what we said in our last report :
If the RCN prices come down a bit, kernel prices will remain in the current range. If RCN prices come down significantly, kernel prices could come down a bit from the current range.
If there is any strong kernel demand from USA and / or EU during the next 4 to 6 weeks, kernel prices will move up a bit from current levels and the RCN prices will not come down.
Pankaj N. Sampat | SAMSONS TRADERS
The pilot vehicle announces the arrival of UDF candidate N K Premachandran. Clad in blue shirt and cream handloom dhoti, Premachandran descends from the open chariot to meet the 50-odd women cashew workers gathered there. People swarm near the vehicle to drape him with plastic garlands. The announcer attempts to add zing to his description of the candidate, but the woman listeners stood impassive, eagerly waiting for the candidate to speak. Premachandran, who had successfully contested twice from the Kollam LS constituency and once from Chavara Assembly seat, began elaborating on his plans for the cashew workers who form a sizeable portion of the electorate. “If elected, I assure you a timely revision of your wages in six months, besides a comprehensive rehabilitation package. If a cashew worker dies, efforts would be made to allot pension to the dependents.
Thứ Năm, 27 tháng 3, 2014
Thứ Ba, 25 tháng 3, 2014
Tue Mar 25, 2014
Indian cashew exports have reached a new high of ` 4,624 crore, surpassing last year's figure, with one more month to go in the fiscal 2014. The possibility of exports touching ` 5,000 crore is not ruled out as the exporters could send more shipments in the last month. In 2012-13, cashew exports stood at ` 4,420 crore, which was the highest till now. The fall in rupee value during the year has helped in raising the total value of cashew exports.
Though the volumes have been down in certain months, the value has remained high. For instance in February 2014, the quantity of cashew export is lower by 12per cent at 7,009 ton. However, the value is up by 6 per cent at ` 315 crore.
The total quantity, too, has almost reached the level in 2012-13 at 1,09,958 ton at the end of February 2014. In the previous year the total quantity exported touched 1,10,306 ton.
Higher exports have been achieved despite a 14per cent drop in raw cashew imports at 7,32,478 ton till the end of February 2014. "Rising prices of raw cashew imported from Tanzania in the last few months have led to slowdown in processing, squeezing the export volumes. As a result many processing factories in Kerala have stopped working,'' said P Somarajan, proprietor of Kailas Cashew Exports. The raw cashew price has eased after touching a high of over $1,400 per ton.
The raw cashew from east African countries has been traditionally dearer than those from the west African regions, where the harvest has begun. "But this time the prices have been high at the start of the season at $1,150 per ton. It has declined by $100 now, but is still high,'' he added. India imports 8 to 9 lakh ton of raw cashew every year.
While the raw nut price remains high, the cashew kernel price has been hovering in the range of $3.15 to 3.20 per pound, a factor which has been worrying the exporters.
"At the price we have been buying raw cashew, we should be getting a minimum of $3.40 per pound. But Indian exporters have been compelled to export at the above price, the rate at which Vietnam, the major supplier in the global market now, sells,'' said Babu Oommen, proprietor of Alphonsa Cashew Industries. Some processors, who had stock of raw cashew nuts from the previous year with them made a killing by selling to other processors. Better domestic production at over 7 lakh ton helped the exporters to tide over the lower imports to a certain extent.
Mon Mar 24, 2014
The Ghana Cashew Industry Association will launch the country’s cashew season in Wenchi in the Brong Ahafo Region on Thursday, March 27, 2014. The event, the first of its kind in the country to be organised with support from the African Cashew Initiative (ACi) and the African Cashew Alliance (ACA), will create a conducive platform to set a national agenda for the next season. A release signed by the Executive Secretary of the association, Ms Yayra Afua Amedzro, said the maiden event would be on the theme; “Harnessing the economic and climatic benefits of cashew; the strategic non-traditional export commodity.”
The launch, which is planned to become an annual event to mark the largest gathering of cashew industry players in the country, will be attended by producers, processors, exporters, researchers and policy makers, among others.
Cashew, like many other agricultural commodities, is a seasonal crop with large concentrations in the Brong Ahafo Region, although there are producers in other parts of the country, including the Northern Region.
Cashew cultivation in Ghana started in the 1960’s with sporadic plantings in the Central and Greater Accra regions and later spread into the Brong-Ahafo, Northern, Upper East and Upper West regions on a much wider scale. However, between 1970 and 1980, the industry suffered a setback due to the absence of appropriate policies to support the development of an emerging industry. Low producer prices, underdeveloped market structures and inadequate information regarding appropriate husbandry practices for cashew caused farmers’ enthusiasm in the crop to wane considerably, and already established plantations were abandoned and left to the mercy of bushfires and fuel wood collectors.
Fortunately, the interest in the crop was rekindled with the introduction of the Economic Recovery Program (ERP) in 1983, when cashew was identified as one of the major non-traditional crops to be developed as part of the government’s efforts of diversifying the country’s export base.
The way forward
Commodity markets were, therefore, established and liberalised; thus providing the opportunity for cashew farmers to sell their raw nuts. Cashew farmers became enthusiastic about the crop once again and re-invested money, time and labour to rehabilitate some of the abandoned farms. As a result, Ghana recorded its first export of 15mt of raw cashew nuts in 1991.
Today, over 40,000mt of raw cashew nuts are produced in the country and export figures average 80,000mt, with inflows from Cote d’Ivoire, Burkina Faso and Benin to major destinations such as India, Vietnam and Brazil. Ghana also boasts increasing processing in the country up to about 30,000mt capacity, all in rural areas, and creating employment for thousands, with women in the majority. It is, therefore, believed that the country’s production levels can be tripled over the next ten years if all players make the concerted effort to increase production.
Thứ Sáu, 21 tháng 3, 2014
Thứ Tư, 19 tháng 3, 2014
THIRUVANANTHAPURAM: The finance inspection wing of the government has detected irregularities in the functioning of the state cashew development corporation (KSCDC) and accused its board and managing director of lack of transparency in procurement and sale.
The report, submitted to the industries department, accused the corporation of flouting all business norms in procurement of raw material and sale of products. It says the corporation had invited open tenders for procurement of cashew kernels but favoured a Kottayam-based company as vendor. In the sale of the product, the corporation accepts an advance amount promising to sell the product based on the buyer's demand and this becomes a liability for it even if there is a rise in market price of the product.
KSCDC managing director K A Retheesh, however, termed the report as baseless. "Any business policy is based on contract rates aimed at making profits. KSCDC would prefer the export of cashew to an Indian company if it is assured of immediate benefits. The bill clearance for export to a foreign company will happen after packing, shipping and receipt, which will take about 50 days," he said. "A government official had written to the National Investigation Agency (NIA), saying that the KSCDC had imported arms and currency notes along with raw cashew kernels. If the company has such criminal antecedents, the home department should investigate it. Such false allegations are aimed at defaming the company, which is struggling for survival," he said.
Retheesh said the corporation has no working capital as against an accumulated loss of Rs 979.33 crore. However, from being a company on the verge of closure in the 90s, with only 20 working days a year, the corporation offers 288 working days a year now. "The company has suffered owing to political high-handedness and false allegations. Its turnover has come down to Rs 125 crore in 2012-'13 from Rs 275 crore in 2011-'12." The corporation has 30 cashew factories, with around 20,000 employees, and it is forced to ensure employment irrespective of loss or profit as a public sector unit.
An official with the industries department said on condition of anonymity that running a public sector company in Kerala was tough. "The company will have to face allegations of misappropriation if it tries to make profits despite odds while those heading it will have to be held responsible if it shuts down. The system is designed to fail," he said.
Laxmi Ajai Prasanna,
The Times of India
Mon Mar 17, 2014
Indian cashew exports are showing signs of outstripping the previous season's sales by a substantial margin. Sales of the nut were 28% ahead in value terms at INR38.8 billion (USD631.6 million) and gained by 20% in volume in the first nine months of the country's current financial year from those of the same period last year.
Improving added value
Chủ Nhật, 16 tháng 3, 2014
Thu Mar 13, 2014
The African Cashew Alliance is excited to announce that Equatorial Nut Processors Ltd. (ENP) has officially joined the ACA Advisory Board as the first African-based company in the body. ENP, one of East Africa’s leading nut processors, is based about 120 km from Nairobi in Muranga, Kenya and became an ACA member in 2012. The company was established in 1992 and initially focused on processing macadamia nuts.
Prior to 1992, there was a single Macadamia Nut Company in Kenya which controlled the large Macadamia Nut sub-sector. Upon a Judicial High Court Judgement, Equatorial Nut Processors Ltd was authorised to break more than two decades of monopoly control and enter the sector. Following this decision, ENP promoted macadamia cultivation by small-scale farmers and enacted a variety of incentives for the farmers which included access to credit, scholarships for children of the poor farmers and provisions of grafted and high yielding macadamia seedlings. This sub-sector expanded tremendously and moved from a capacity of about 10,000 MT to approximately 30,000 MT of Nut In Shell (NIS). On account of these efforts, Mr. Peter Munga, the Founder of ENP, was granted a laureate of Yala Award in 2009 for his entrepreneurship and for enabling millions of smallholder farmers to access affordable savings and credit facilities.
In January 1993, ENP established a nut processing plant in Muranga and commenced operations with initial export of Macadamia Kernel to Marcfarms in Hawaii, USA. The processing capacity has since expanded from the initial 2,000 MT of Nut In Shell (NIS) to 9,000 MT of NIS.
ENP has shown incredible growth over the past couple of years and continues to surpass industry benchmarks. Today ENP occupies a state of the art agro-processing facility located on a 15 acre site in Muranga County. This has enabled the company to expand its product range to include cashew nuts, peanuts and fortified foods. The cashew nut processing unit began with an output of 2400 MT in 2012 and has since expanded to 3000 MT. The board is committed to increasing this capacity further in the coming years. ENP currently supports over 100,000 small scale farmers and employs over 2000 workers, of which 80% are women.
ENP has received certification from HACCP, an internationally recognized certification required by the EU, and ISO 22,000 a global food safety management standard. Additionally, ENP became the 5th ACA-Seal approved company in September 2013, meeting the necessary food quality and safety benchmarks.
The African Cashew Alliance is especially excited about ENP joining its Advisory Board because the company will be the first African-based AB member ever since the inception of the ACA in 2006. This represents an important landmark for the Alliance. The Advisory Board is the governing body that provides strategic advice to the ACA’s Executive Committee and Secretariat. As an Advisory Board member, ENP will make an annual contribution to the ACA budget of at least US $50,000 and join the ranks of others promoting the African cashew industry: USAID, GIZ, the Bill and Melinda Gates Foundation, Intersnack (Europe’s largest snack manufacturer) and KRAFT Food (one of the world leading food processor) and OLAM International a Singapore based global trading commodities company. Financial commitment from the private sector to ACA is growing rapidly as the international industry increasingly recognizes ACA’s essential role as the single cashew industry platform in Africa.