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, 30 tháng 6, 2014

India: Premium W320 Hits Rs6000/Tin/11.34kg in Spot Trade

June 30th, 2014 

Indian market is witnessing the Ramadan boom. Premium grade W320 is being sold at Rs6000/Tin/11.34 kilo/Goa-Mangalore/Immediate. One month forward sale might fetch even 2-5% more.

There is no significant demand for the West African last crop nuts. But stockists and speculators who have hoarded everything but the last crop are seeing good demand and gain.

Indian market is not short of raw cashew owing to slower processing in the last four months and excessive imports.
Source: World Cashew

Chủ Nhật, 29 tháng 6, 2014

Gambia as 15th largest cashew exporter


Thu June 26, 2014

The Gambia has been ranked as the world’s 15th largest exporter of Raw Cashew Nut (RCN) with a 0.1 percent market share in the global RCN market, a report reveals. According to The Gambia Cashew Sector development and Export Strategy 2014-2019 which was released to APA on Thursday the country’s position is due to constant export of RCN mainly to India.



The report opines that the global growth rate of 9 percent (import) for RCN and 9 percent for cashew kernels offers an opportunity for The Gambia cashew sector to emerge and support the country’s export development. “According to comrade data, the total export quantifies exemplifies not only variation in the global market but also challenges within The Gambia in supplying international markets with supply volumes and consistency.

The import of RCN from neigbouring countries could also explain the variations, due to various political and economic contexts.” the document states. The report says, Gambian RCN exports although concentrated on India have also reached a much larger number of destination markets, such as the UAE, Vietnam, China, Denmark, Senegal, Singapore and the United States.

“The important difference between direct and mirror data indicates a clear need to enhance data collection for the cashew sector.

In either case, India remains the main destination market for Gambia RCN as it absorbs more than 95 percent of exports”, it adds.

The report was released as The Gambia launched what it called a seasoned approach which involved a value chain analysis and diagnoses of the sector, define strategic orientation and develop detailed plan of action with clear objectives to enhance production and productivity around cashew nuts.

Source: http://en.starafrica.com/news/gambia-as-15th-largest-cashew-exporter-report.html

Skyrocketing nut prices in Venezuela


Thu June 26, 2014

The prices of many imported products continue to increase significantly in Ciudad Guayana. Such is the case for nuts, including walnuts, almonds and hazelnuts; products that are currently in high demand due to their health benefits.



After a tour conducted around some businesses devoted to the sale of these products in the areas of Alta Vista and Unare, it was found that several of the store owners agree that costs have increased by up to 40 % over the past three months.

This, as stated by the store owner Juan Soler, is related to the increases applied by the suppliers responsible for distributing the products around the country.  "If suppliers raise prices, we need to do it as well, as we still need to make a profit. If you buy expensive, you need to sell expensive," he stated.

Various deals

Both in markets and shopping centres it is possible to find all kinds of deals with nuts. Among the most sought after, as reported by store owners, are almonds, whose prices vary between 530 and 625 bolivars per kilo.

Hazelnuts can be obtained for between 602 and 688 bolivars per kilo, while imported cashew stands at around 600 bolivars.

Additionally, bags containing a variety of nuts covered in chocolate or sesame seeds have also increased in price. In this sense, the consumer Mónica Muñoz said that "I used to purchase a 20 gram bag of chocolaty nuts for 15 bolivars and now I have to pay up to 60 bolivars."

Stable sales
It was reported that, following the so-called "fitness" craze that has taken over the city, the demand for these types of products has skyrocketed, despite the price increases. César Rodriguez, manager of one of the stores, agrees with this statement, confirming that product sales have remained stable.

"People are still buying regardless of prices. Sometimes it becomes difficult for us to acquire some of the nuts; for example, right now I have no almonds, but they still purchase other varieties," he said.

With the arrival of the holiday season, as it often happens, the value of these products could increase exponentially; however, traders still hope that the situation will stabilises so that they can offer fair prices, because in the end, the purchasing power of consumers is affected.

Source: Nuevaprensa.com.ve

Thứ Năm, 26 tháng 6, 2014

Israel: Salt of the Earth going nuts with sodium reduction


Wed June 25, 2014

New market research conducted by TNS for the Israel Society of Hypertension shows that 62% of consumers who watch TV eat savory snacks, while 50% eat a variety of salted nuts. During football games like world soccer championship, sodium consumption typically increases dramatically. Salt of the Earth created a low-sodium salt designed to reduce sodium up to 60% in savory formulations using such popular ingredients as peanuts pistachio, almonds and seeds.



“Consumers prefer healthier products but won’t compromise on organoleptic properties like flavor and mouth feel,” says Giorit Carmi, Marketing Manager of Salt of the Earth. “Eating nuts while watching sports is a core part of our culture—even more common than drinking beer. We identified this niche sports fan market as one of the premium targets for reducing sodium consumption. Zarubi Pitzuchai Hagalil, one of the leading nut companies in Israel, recently added it to their line with great success. Our next step is to introducing this low-sodium ingredient into the global market.”

The new low-sodium ingredient keeps the same salty taste in a formulation, but has much less sodium. It contains high-value potassium chloride derived from the Dead Sea, plus natural, sustainable Red Sea salt. Salt of the Earth relies on Mother Nature’s powers to produce sea salt, without chemical processing and with a minimal ecological footprint. Red Sea salt is rich in essential minerals and micro elements that are vital to well-being.

This outstanding sodium-reduction ingredient is heat stable and enables a “low-sodium” label claim. It contains no artificial ingredients or preservatives, and is produced under strict inspection to ensure potency, purity and safety. Zarubi tested the ingredient in multiple lab applications using several kinds of nuts and based on these results decided to launch the low salty nuts line in Israel.

“The test results should encourage savory snack makers to develop low-sodium nut snacks,” adds Carmi. “Nuts and seeds are highly nutritious, but a key challenge is to reduce sodium without impaction salty flavor.”

Source: http://www.freshplaza.com/

Gambia launches cashew, sesame export strategy


Wed June 25, 2014

The government in Banjul through its Ministry of Trade has launched The Gambia Cashew and Sesame Sectors Development and Export Strategy 2014 – 2019, a local newspaper reported Wednesday.Foroyaa newspaper quoted Permanent Secretary at the Trade Ministry, Naffie Barry saying at the launching that the development of the strategy had taken a seasoned approach which involved a value chain analysis and diagnoses of the sectors, defined strategic orientation and developed detailed plan of action with clear objectives.



She said for the first time the cashew and sesame sectors in The Gambia have a guiding document that will give better focus and structured interventions to enhance production and productivity to increase exports.
Mrs. Barry noted that the document is aligned to the recommendations of the National Export Strategy, the Agriculture and Natural Resource Policy, The Gambia National Investment Programme, the National Trade Policy and the Diagnostic Trade Integration.

Momodou Ceesay, the president of the Cashew Alliance of the Gambia, said cashew is the fastest growing export crop in the country and it is of vital importance its socio economic development.He said the strategy, when implemented, will contribute positively to the rapid development of a sustainable cashew sector that would enhance export competitiveness, raise rural income and reduce poverty.

However, groundnut remains Gambia’s best known agricultural resource.

Source: http://en.starafrica.com/

India: Cashew kernel exports fall


Wed June 25, 2014

After a record rise in cashew kernel exports last year, exports of the commodity have seen a decline in the first two months of this financial year, owing to a shortage of raw cashew nuts. A decline in production in India and African countries led to the shortage.



For April and May this year, kernel exports stood at 15,715 tons, compared with 19,904 tons in the corresponding period last year, a decline of 21 per cent.

“The availability of raw cashew nuts was lower during the fourth quarter of last financial year; this was processed and exported in the months of April and May. Though the processors imported a higher quantity in the first two months, they faced a shortage in the preceding months. In addition, the prices of raw nuts rose significantly, adding to the cost of processors,” said Rahul Kamath, partner at Mangalore-based Bola Surendra Kamath and Sons.

He said new crop arrivals were seen only in April and due to a smaller crop this year, prices of raw cashew nuts increased about 50 per cent to ` 100 a kg. Nuts imported from Tanzania were priced at ` 94 a kg, which added to the processing sector’s costs. During April and May, many processing units either worked at half their capacities or were shut, Kamath said.

In value terms, exporters earned ` 683.39 crore in April and May, 10.3 per cent lower than in the year-ago period, when their earnings stood at ` 761.96 crore. In dollar terms, the earnings were $114.2 million, a decline of 18 per cent compared with the year-ago period’s $139.3 million. The average unit-value realisation was, however, higher at ` 434.85 a kg, against ` 382.82 a kg for April and May 2013.

“During the beginning of this financial year, raw cashew nuts weren’t freely available for exporters; the rupee was steady against the dollar. Some issues at the Tuticorin port resulted in a huge pile-up of trucks and led to delay in nuts exports. More, domestic prices were encouraging and the processors were happy to sell in domestic markets,” said Sasi Varma, executive director, Cashew Export Promotion Council of India.

In May, exports stood at 8,397 tons, against 7,318 tons in April. “At the beginning of the financial year, there was a slight drop in demand in consuming countries. But it is picking up now and we expect exports to pick up in the coming months. The buyers adopted a wait-and-watch policy in the first two months. Unavailability of raw cashew nuts was the main reason for decline in exports,” said Pankaj Sampath of Mumbai-based Samsons Traders said.

He said through the past six months, there was renewed demand for broken grades from buyers in the EU and the US. For 2013-14, India exported a record 113,260 tons, valued at ` 4,976 crore, an all-time high.

Source: http://www.business-standard.com/

India: Cashew kernel exports dip 21% on shortage of raw cashew nuts


Wednesday, June 25, 2014

After seeing a record rise in exports last year, India's cashew kernel exports have seen a declining trend in the first two months of the current fiscal as the processing industry witnessed shortage of raw cashew nuts. The decline in production in both India and African countries caused shortfall in raw cashew nuts. The exports of kernels stood at 15,715 metric tonnes between April and May 2014 as against 19,904 metric tonnes in the corresponding period last year, showing a decline of 21%.



"The availability of raw cashew nuts was lower during the fourth quarter of last fiscal, which is processed and exported in the months of April and May. Though the processors imported higher quantity in the first two months, they faced shortage in the preceding months. In addition, the prices of raw nuts went up significantly adding to the cost of processors," said Rahul Kamath, partner at Mangalore-based Bola Surendra Kamath and Sons.

He said the new crop came only in April and due to short crop this year the prices of raw cashew nuts went up over 50 per cent to Rs 100 per kg. Even imported nuts from Tanzania were priced at Rs 94 per kg, which added to the cost of processing industry. Many processing units have either worked half of their capacity or shut down during the first two months of this fiscal, he said. In value terms, the exporters earned Rs 683.39 crore, a decline of 10.3% over the corresponding period. In April and May last year, the earnings were Rs 761.96 crore. In dollar terms, the earnings were $114.20 million, a decline of 18% over the last year's earnings of $139.30 million. The average unit value realisation was however higher at Rs 434.85 per kg as against Rs 382.82 per kg in the same period last year.

"During the beginning of this fiscal, the raw cashew nuts were not freely available for exporters even though the rupee was steady against the dollar. There were some issues in Tuticorin port, which resulted in huge pile up of trucks and caused delay in export of nuts. Moreover, the domestic prices were encouraging and the processors were happy selling locally," said Sasi Varma, executive director, Cashew Export Promotion Council of India (CEPCI).

Exports in the month of May were higher compared to April. In May exports stood at 8,397 metric tonnes as against 7,318 in April. "There was a slight drop in demand at the beginning of the fiscal at consuming countries. It is picking up now and we expect the exports to pick up steam in the coming months. The buyers adopted a wait and watch policy in the first two months. In addition, the availability of raw cashew nuts was the main reason for decline in exports," said Pankaj Sampath of Mumbai-based Samsons Traders said. He said there has been a renewed demand for broken grades from the buyers in EU and US once again over the last six months, which had dried up last year. For the year 2013-14, India exported a record 1,13,260 metric tonnes valued at Rs 4,976 crore, an all-time high.

Source: www.business-standard.com

Thứ Ba, 24 tháng 6, 2014

Zambia: $3.6 million (USD) loan approved to improve cashew exports


Fri June 20, 2014

The Citizens Economic Empowerment Commission has approved a K22 million ($3.6 million USD) loan facility to scale up Western Province's cashew nut industry that will trigger an unprecedented export market.



Following a board meeting held earlier this month, the CEEC has decided to facilitate the provision of a K22 million loan designed to assist cashew nut growers build capacity and expand the industry towards an industrial scale enabling the processing of large quantities of cashew nuts to be fed into domestic and export markets.

CEEC director general, Likando Mukumbuta said, in an interview in Lusaka on Monday, that the financing would enable the growth of about 2.7 million new trees, which would see the expansion of the sector and stimulate the export market.
"The commission has agreed to support the Western cashew industry by helping them raise K22 million within 2014 so that we can start the expansion programme. K10 million ($1.6 million USD) is going to be used for helping small-scale farmers develop 2.7 million new trees in their orchards, which they are going to grow over the next three years so that they become the main suppliers," Mukumbuta said.

He said the remaining K12 million ($1.9 million USD) would go towards importing raw cashew nuts and new equipment, supporting and developing staff, as well as bringing in expertise to help train farmers and growers and to run the industry more efficiently. "That K12 million is going to be used to import raw cashew from other countries such as Tanzania and Mozambique so that they can be processing the raw cashew and delivering processed products for the local market as well as for export while the plantations are growing over the next three to four years," he said.

And Mukumbuta said the commission was attempting to 'reposition' Zambia as an export-oriented economy with the cashew nut sector being key. "What we are doing now is that we are positioning Zambia to play a role that India plays where we can actually import raw material, add value and get the benefit of the processing and the export," said Mukumbuta.

According to the business plan, the projected gross annual turnover is expected to be K45 million ($7.3 million USD) by 2021. One per cent of this is expected to be generated from domestic sales, with the remaining 99 per cent from export sales.

Source: postzambia.com

India: Tuticorin Port restricting imports by 50% due to congestion


Fri June 20, 2014

The congestion at the Tuticorin Port in Tamil Nadu is turning out to be a blessing for the International Container Transshipment Terminal (ICTT) at Vallarpadam, with cargo from the southern region of Tami Nadu being diverted to Kochi.



Tuticorin Port has put an embargo restricting imports by 50 percent, owing to heavy rush at the Port. Due to this, both importers and exporters are finding it difficult to move cargo as the embargo is on account of congestion at the Port. Moreover, it is not stipulated as to when the port operation would return to normalcy, said a press release issued by the Port authorities.

“With the Tuticorin Port restricting imports by 50 percent, there is a shortage of containers for export, which has prompted traders to turn to Kochi, the next nearest port. We  expect that the restricted 50 percent cargo would be diverted to Kochi. This is advantageous to traders also as they can send cargo directly to destinations,” said sources at the DP World, the operators of ICTT, Vallarpadam.

Meanwhile, the congestion at the Tuticorin Port has affected the cashew industry in Kerala. “Tuticorin is one of the major ports for the export of cashew kernel and import of raw cashew. A considerable quantity of cashew kernel and raw cashew are handled at  Tuticorin every year. The majority of the  traders who use of the Tuticorin Port for this purpose are from Kollam. In 2013-14, the country imported over four lakh tons of raw cashew, valued ` 2,344 crore. Around 40 percent of the cashew imported is routed through the Tuticorin Port,” the sources  said.

“Being the season, now the arrival of raw cashew nut from African countries is in full swing, and the disruption in cargo movement  is causing great difficulties to the traders,” sources said.Meanwhile, the Cashew Export Promotion Council of India(CEPCI) has written to the Tuticorin Port authorities, requesting their intervention in solving the issue of congestion at the earliest.

The CEPCI has also requested the Port authorities to hold a meeting with traders from Kollam to discuss and understand their issues, and suggest solutions.

Source: newindianexpress.com

Chủ Nhật, 22 tháng 6, 2014

India: Market Awaits Ramadan Consumption

June 22, 2014
Global demand is slowly but steadily improving in the wholes category but the Indian demand is still for pieces, splits and lower grades. Market may witness some big changes during the Ramadan consumption period.

Forward price of a Premium W320 tin is around Rs6000/11.340 kilo/Goa-Mangalore/July-end.
Source: World Cashew 

SAMSON'S CASHEW MARKET REPORT - JUNE 23, 2014

JUNE 23, 2104

FOB prices in Weeks 24 & 25

W240          US$ 3.60 to 3.75
W320          US$ 3.20 to 3.40
W450          US$ 3.05 to 3.15
SW320        US$ 3.05 to 3.15
SW360        US$ 2.90 to 3.00
SSW           US$ 2.60 to 2.65
Butts          US$ 2.60 to 2.65
Splits                  US$ 2.45 to 2.55
Large Pieces US$ 1.90 to 2.00



During May 2014, cashew prices moved up a bit in all origins and markets – increase in price for broken grades was more than wholes. In the last 3 weeks, market has been steady. 

During weeks 24 and 25, range of prices has been W240 from 3.60 to 3.75, W320 from 3.20 to 3.40, W450 and SW320 from 3.05 to 3.15, Butts around 2.60, Splits around 2.50 and Pieces around 2.00 FOB for shipments upto Sep/Oct.  Prices for later positions are few cents higher.

From middle of April, there has been reasonable activity in all markets, mainly for May-Aug shipments but some business was done for 4 th quarter 2014 also.  Offtake in Indian market was steady – there was small increase in prices for good quality product but overall, prices moved in a narrow range.

RCN prices also moved up during the last six weeks.  Depending on quality and payment terms, price range was 950 to 1100 for IVC, 1050 to 1150 for Ghana & Benin, 1150 to 1225 for Senegal & Gambia and 1150 to 1300 for Guinea Bissau.  During Apr & May, larger portion of shipments has been to India but in the last few weeks, shipments to Vietnam have picked up.  Shipments from IVC have been brisker than normal and quality has been better than normal. There are reports that Guinea Bissau crop may be smaller than normal.

Continuing the trend established in the last two years, many kernel buyers have been buying for smaller spreads to take advantage of lower prices from a larger number of smaller processors who need to sell on spot basis.  But, some buyers have been paying slightly higher prices to secure supplies for longer period from larger and better organized processors.

Despite the substantial increase in the prices of many other nuts in the last 6 to 12 months, cashew prices have been moving within a narrow range for more than 2 years.  Premium for higher grades and discount for lower grades has narrowed in the last six months. Indications are that cashew usage in the main importing countries has been increasing – probably as a result of the stable prices.

Prices paid for RCN in the current season are substantially higher than 2013.  This indicates that processors may not be able to continue selling kernels at the lower end of the range. At the same time, the need for small processors to keep selling regularly will prevent prices from going up too much.

Our feeling is that during the next few weeks, cashew prices will move in a narrow range near the higher end of the range.  There is a reasonable possibility that prices could move a notch higher than the current range during Fall 2014. And if that happens, market could move towards a new range for first half 2015.

We would appreciate your comments on market situation, views on trend + likely developments, any special information… and your interest.

Pankaj N. Sampat | SAMSONS TRADERS

Thứ Bảy, 21 tháng 6, 2014

Ghana, Ivory Coast Trade Tensions Loom

9 June 2014
Accra — THE Bureau for Internal Affairs (BIA), an anti-corruption organisation and a centre for information gathering on public concerns, has called on President John Mahama as Chairman of the Economic Community of West African States (ECOWAS) to intervene in the uprising trade tension between Ghana and Ivory Coast.

The BIA Coordinator, Cynthia Essandoh, noted with concern that there was a hidden trade war between the two neighbouring countries resulting from a previous ban on inland rice importation by the Ghanaian government.
She explained in Accra that the decision to ban inland importation of rice appears to have been taken by the Ghana's Trade Ministry without proper consultation with the relevant stakeholders.
Haruna Iddrisu, Ghana's Minister of Trade and Industry, on October last year, directed that all importation of rice into the country must be done through the airport or by sea.
The policy, according to him, was ended "to provide a framework of administrative procedures through which the numerous unfair trade practices including evasion of import duties and other taxes, under-invoicing, infringement of trademarks, and smuggling shall be controlled."
The Trade Ministry subsequently lifted the ban but BIA claims its investigation showed that it was still subtly being applied by Ghana.
BIA claims that the Ivorian government has also retaliated by banning import of cashew from that country into Ghana by road.
BIA said its investigation reveal that the inland ban of cashew importation and the initial restriction of cargo trucks by Ivory Coast authorities from entering their country from Ghana through their border were fuelled by Ghana's Trade Ministry's implicit ban on inland rice importation through the common border of the two countries.
BIA is therefore advocating the total lifting of the ban by the Trade Ministry to enhance the free trade relationship between Ivory Coast and Ghana.
The bureau says it fears the possibility of other neighbouring French-speaking countries adopting similar policies such as Ivory Coast's.
"That can go a long way in worsening the plight of traders in Ghana."
Source: All Africa

Tanzania Shilling Continues Losing Ground

12 June 2014

THE shilling continued losing ground against the US dollar and other major currencies due to the fall of the country's exports.

The Confederation of Tanzania Industries (CTI), Director of Policy and Advocacy, Mr Hussein Kamote said in an interview with the 'Daily News' on Wednesday that the weakening of the shilling will persist until the harvest season begins.
The National Microfinance Bank (NMB) e-market report shows that the Shilling extended the losses on Tuesday with the USD/TZS pair closing at 1670/1721. The local currency is expected to be kept under pressure along the week.
According to the Bank of Tanzania (BoT) monthly economic report for April, the value of coffee, tobacco, cotton and cashew nut declined due to fall in both export volumes and unit prices, while that of tea was driven by a decline in export unit price alone. With the exception of travel and manufactured goods, all other major exports recorded declines.
The value of exports of goods and services declined by 1.7 per cent to 8,709.5 million US dollars in April. Mr Kamote said the inflows from gold exports were still providing support to the shilling, but the price instability in the world market coupled with the declining volumes was creating some uncertainties.
According to the BoT report, export value of gold declined by 11 per cent to 1,749.1 million US dollars compared to a fall of 17 per cent to 1,723.1 million US dollars recorded in the previous month.
However, he said, the inflows from the tourism sector starting this month will to some extent ease some pressure on the local currency for the situation to stabilise further during harvest seasons in next few months to come.
Mr Kamote cautioned over the uncontrolled illegal business in US dollars particularly in some bureaux de change, as it will continue hurting the local currency as well as the economy.
"This is very serious. If the illegal business in dollars is not arrested immediately, the shilling will continue falling," he noted. According to Standard Chartered Bank daily market commentary, the local unit further lost ground against the dollar yesterday, as demand continues to pressurise the shilling in the interbank market.
The same pressure was expected to continue yesterday with the pair expected to trade with medium price volatility.
Meanwhile, the Kenyan shilling weakened against the dollar today as excess liquidity and dollar demand across the board put pressure on the local currency.
At 0815 GMT, commercial banks posted the shilling at 87.90/88.00 per dollar, weaker from Tuesday's close of 87.70/80. "It seems the market is flush with Kenya shillings," said Mr Andlip Nazir, senior trader at I&M Bank.
The central bank has regularly intervened to mop up shilling liquidity via repurchase agreements and other instruments, and in recent weeks traders said it had also sold dollars.
Traders widely expect the bank to sell dollars again if the currency comes under more pressure. The bank sought to drain 5 billion shillings ($56.88 million) of excess liquidity from the money market today by using repurchase agreements.
Mr Nazir said the local currency has also been hurt by strong dollar demand from all sectors. He said both corporates and individuals were buying greenbacks.
Traders have said they are also waiting for the 2014/15 (July-June) fiscal budget, due to be presented to Parliament on Thursday, for a broader guide to the economy's direction.
In Uganda, the shilling firmed on Tuesday as corporate demand for dollars slowed, but investors were reluctant to make any sharp moves before budget announcement today.
At 0824 GMT on Tuesday, commercial banks quoted the shilling at 2,555/2,565, up from Friday's close of 2,560/2,570. Uganda's markets were closed for a holiday on Monday.
"When the shilling hit 2,570 levels last week most corporate buyers thought (the dollar) was getting a little expensive," said Faisal Bukenya, head of market making at Barclays Bank.
"We have seen demand come down ... but ahead of the budget I think we're likely to see a stable tone." Uganda's finance minister is due to present the budget today for the 2014/15 financial year that starts on July 1.
Traders said there was still some pressure on the shilling in the medium term, in part because the Bank of Uganda, the central bank, last week unexpectedly cut its key lending rate by 50 basis points to 11 per cent.
The shilling is down 1.4 per cent on the year to date and has been largely propped up by inflows from offshore investors buying Ugandan debt and by BoU mop-ups of excess liquidity. The rate cut may make that debt less attractive to investors.
"Due to the monetary policy easing and current account and budget deficits, the shilling will continue ... to depreciate mildly against the dollar, by 1.0 per cent on average in the medium and long term," Amsterdam-based frontier markets research firm Mantis said in a June report.
But it said lower interest rates would boost growth. On June 11, a total of 115 billion shillings ($55 million) worth of Treasury bills of all maturities will be auctioned.
Source: All africa.com

Gambia: TIRC, Cashew, Sesame Sector Strategies Launched

20 JUNE 2014

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 Wednesday launched the Trade Information Reference Centre (TIRC) and Cashew and Sesame Strategies developed under the Sector Competitiveness and Export Diversification Project (SCEDP).



The project, officially launched in 2012, provides specific support for the Cashew and Sesame sectors and consists of three components, namely sector development; trade information and inclusive tourism is implemented by ITC, in collaboration with MOTIE, Ministry of Agriculture and stakeholders in The Gambia.

The Export Strategies for Cashew and Sesame which provides a roadmap to drive improved competiveness and increased exports in the two sectors will diversity The Gambia's export base. Development of the strategies involved both public and private sector and civil society will enable The Gambia to develop the two sectors, while ensuring complementary and other national planning frameworks. The Trade Information Centre, located at MOTIE provides improved access to businesses and trade information service to variety of clients, specifically to those engaged in foreign trade and other government institutions interested in undertaking research. The network officially formalised with the signing of a protocol of cooperation between MOTIE and 19 other intuitions provides a national level trade information infrastructure to facilitate information-sharing, exchange and dissemination.

In her launching statement, Naffie Barry, the permanent secretary at the Ministry of Trade, Industry, Regional Integration and Employment informed that the sector strategies are aligned to the recommendations of the National Export Strategy, the Agriculture and Natural Resource Policy, the Gambia National Agricultural Investment Programme, the National Trade Policy and the Diagnostic Trade Integration Study (DTIS).

She revealed that a National Coordination Committee (NCC) has been established for each sector, which she noted, is a representative public and private body to coordinate, monitor and manage the implementation of the respective sector strategies. However, in order to sustain the interventions and advance the development of the sectors, there is need for support from donors, the private sector and international organisations, as well as government contributions.

PS Barry told the gathering that this is the first time the cashew and sesame sectors have a guiding document that will give better focus and structural interventions to enhance protection and productivity.

"Therefore, it is strongly believed that the contents of this sector strategies carries the collective thoughts on the challenges of the sector and the required actions that need to be taken to reach our common objectives," she stated.

Speaking earlier, the director of country programmes, Ashish Shah stated that it is important for The Gambia to be able to access both regional and global markets. As part of this project, ITC has helped to provide a clear roadmap for export diversification by assisting The Gambia to develop export strategies for two sectors, with high export potential, namely cashew and sesame. Shah further revealed that the project has provided valuable assistance to the groundnut sector, The Gambia's most dominant export commodity, through targeted capacity- building assistance in quality management.

For his part, Charles Roberge, the adviser of export strategy acknowledged that strategy and its design process offer a structured and focused approach to enhance sectoral competitiveness, while contributing to socio-economic development.

He explained that the main objective of a strategy is to contribute to higher revenues, all along the value chain by improving its overall competitiveness and performance in targeted markets. A sector development strategy, as part of a National Export Strategy or not, demonstrates a country's commitment to development.

The president of the Gambia Cashew Alliance, Momodou A. Ceesay explained that cashew is the fastest growing export crop, and is of vital importance to the socio-economic development of The Gambia. This growing cashew sector, he pointed out, has been mainly driven by its commercial viability, conducive business environment, high-level government support and a dynamic private sector, in which (CAG) members are at the forefront.


Ceesay noted that CAG is a national association of all cashew stakeholders, including farmers, processors, traders, government representatives and exporters. "It was registered as a non-profit organisation in 2020 as the apex body for the cashew industry and to further the interest of the Cashew sector in The Gambia. CAG also represents the interest of the African Cashew Alliance (ACG) in The Gambia," he informed the gathering.

Source: All africa.com

PEPSICO : TO SOURCE CASHEW FROM INDIA UNDER TIE-UP WITH CLINTON FOUNDATION

05/27/2014

PepsiCo intends to source cashew from small farmers in Maharashtraunder a partnership with the Clinton Foundation. The company intends to source cashew from 2,000 small farmers in 2014 and gradually increase it to as many as 15,000 small farmers over the next five years. PepsiCoplans to incorporate cashew into some of its blended juice products starting in 2015.



Source: http://www.4-traders.com/PEPSICO-INC-13978/news/PEPSICO--TO-SOURCE-CASHEW-FROM-INDIA-UNDER-TIE-UP-WITH-CLINTON-FOUNDATION-18499907/

Zambia : CEEC approves K22M loan to scale up cashew nut industry

June 21, 2014

The Citizens Economic Empowerment Commission(CEEC) has sanctioned a K22 million ($3.6 million USD) credit facility to scale up the cashew nut industry of theWestern Province that will generate an unprecedented export market.



After a board meeting held earlier in June, the Commission has said it will ease the offering of a K22 million loan designed to help cashew nut growers build capacity and boost the industry towards an industrial scale allowing to process large quantities of cashew nuts to be fed into local and export markets.

A senior official of CEEC, said the funding would help in the growth of about 2.7 million new trees, which would see the industry expand and promote the export market.


Source: TendersInfo (India)

Magalore - India: Farmers take to ultra-high density cashew farming

Thu June 19, 2014

Deranna Rai, a farmer from Bettampady village in Puttur taluk, said was planning to plant rubber on a five-acre land in his village in 2010. The earth moving equipment had prepared four acres of land for this purpose.
Then he met scientists from the Directorate. They persuaded him to take up ultra-high density cashew planting in the remaining one acre.



Accepting the suggestion, he planted around 440 cashew plants on an acre of land that year. (In the ultra-high density method, 440 plants are planted with a spacing of 3 metres x 3 metres on an acre of land. In the traditional system, 60-65 plants are planted on an acre of land, and the harvesting starts from the third year in this system.) In the first year, Rai got around 0.75 kg of raw cashew nuts a tree amounting to 330 kg an acre. After three years of planting, he harvested around 2 kg of raw cashew nuts a tree, amounting to around 800 kg from an acre of plantation. “After deducting all the expenses, my net profit is `40,000 from cashew alone this year,” he said, adding that now he feels he should have planted cashew in the remaining land then.

Deranna Rai is among three farmers, including a woman, who heed to the suggestions of the scientists to take up ultra-high density and high density cashew farming a few years ago. Today they are happy as they get good productivity from their farms.
The success stories were narrated at a farmers’ meet organised by the Puttur-based Directorate of Cashew Research as part of its Foundation Day on Wednesday.

Satyabhama , the successful woman from Manchi village of Bantwal taluk in Dakshina Kannada district, said she followed ultra-high density planting with 440 plants on an acre of land three years ago. She got around one kg a tree from the second year of planting itself. Now she is harvesting around 1,100 kg of raw cashew nuts. Satyabhama uses cow dung in her plantation. Vittappa, a farmer from Honnali taluk of Davangere district, said that he took up high-density cashew planting with a spacing of 5 metres x 5 metres on 1.25 hectares of land in 2004. Around 500 plants were planted then, and the fruit-bearing started in 2006.

He said that yield has gradually increased from 1 kg of raw cashew nuts a tree to 9 kg a tree since then. In 2014, he got a profit of `720 a tree at the rate of `80 a kg for raw cashew nuts. After deducting all expenses, he earned a profit of `2 lakh a hectare, he added.

PL Saroj, Director of Directorate of Cashew Research, said that there is good scope for ultra-high density cashew farming as the domestic demand for cashew nut exceeds the production.

Source: Hindu business line.

India: Cashew imports suffer from port congestion


Mon June 16, 2014

Cashew imports through VOC Port at Tuticorin are getting badly affected due to congestion at the port affecting timely clearance of the cargo. The Cashew Export Promotion Council of India has taken up the matter with the port authorities saying that the one-month long congestion has hampered the cashew movements affecting the cashew trade in Kerala.



It is pointed out that 40 per cent of import cargo from the State was handled at Tuticorin. In 2013-14, the country imported over four lakh tons of raw cashew valued at ` 2,344 crore. Tuticorin is one of the major ports for cashew kernel exports and raw cashew imports.

P Sundaran, Vice-Chairman of the council told Business Line that the raw cashew season in Africa is in full swing and any disruption in cargo movement would cause greater difficulties to the Exim trade. The delay in clearance would also hamper exports since the receipt and the demand in supply will not match due to interruption in getting approval from the authorities.

The import consignments, he said, have to be cleared on urgent basis as the quality gets deteriorated if the cargo lies un-cleared in the port. As against the normal 24-hour clearance, it is now taking around 10-12 days for clearance. The shipping lines informed that due to imports not moving from the terminal, the inventory levels at the terminals is quite high and equipment interchange report (EIR) for export consignments could not be filed. Several mainline vessels with raw cashew consignments are on transit and if the prevailing situation continues, he said the trade has no other option but to change the name of destination port to Kochi from Tuticorin.

Source: http://www.thehindubusinessline.com/

Chủ Nhật, 15 tháng 6, 2014

Vietnam: Agricultural exports see value growth

May 28, 2014

HA NOI (VNS) — Viet Nam gained a year-on-year increase of 10.4 per cent in the value of farm, forestry and aquatic exports to US$12.1 billion during the first five months of this year.
Of this, export values reached $5.94 billion for farming products, 5.1 per cent higher than the same period last year; $2.83 billion for seafood products, an increase of 25 per cent; and $2.46 billion for forestry products, a surge of 13.8 per cent.

According to the Ministry of Agriculture and Rural Development, coffee, pepper, cashew, seafood, wood and wooden products recorded growth in both export volume and value during the first five months, reported the Vietnam News Agency. Meanwhile, rice, rubber, tea, cassava and cassava products saw reductions in exports.
Coffee exports in the first five months achieved a year-on-year increase of 36.7 per cent in volume to reach 966,000 tonnes and 29 per cent in value to $1.96 billion.
Pepper exports also saw a year-on-year surge of 33.6 per cent in volume to 92,000 tonnes and 42.3 per cent in value, rising to $645 million during the first five months of the year.
Also in the five-month period, 98,000 tonnes of cashew were sold abroad for $618 million, registering a rise of 11 per cent in volume and 11.5 per cent in value year on year.
Meanwhile, seafood products grew 25 per cent to $2.83 billion. The US remained the leading importer, posting a year-on-year surge of 67 per cent. This was followed by Japan, the Republic of Korea and China.
Further, rice exporters could not reverse the declining trend they have suffered since the beginning of the year.
Over five months, some 2.65 million tonnes of rice were shipped to other countries to reach a value of nearly $1.2 billion, reflecting respective drops of 10 per cent and 7 percent, year on year.
Marking a five-fold rise in volume and a six-fold rise in value, the Philippines rose as the second largest importer of Vietnamese rice, accounting for 19 percent of market share, while China topped rice imports with 42 per cent.
Decreases were also seen in the export of tea and rubber, Viet Nam's strong export lines. Source: Vietnam News