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Thứ Tư, 25 tháng 1, 2017

India: Dry fruits bleed buyers dry

January 16, 2017

Dry fruits bleed buyers dry

LAHORE - In new year, prices of dry fruits have gone beyond the reach of middle class and lower middle class people who are unable to ward off chilly weather with this seasonal treat.

In a survey of dry fruit shops in different areas of the provincial metropolis, The Nation found out that there is huge difference of prices of different kinds of dry fruits. In uptown areas like DHA, Gulberg and Garden Town, prices were very high. The dry fruit shops on Beadon Road, Garhi Shahu, Qilla Gujjar Singh and in Saddar area had slightly lesser prices.
Pakistan exports dry fruits to Europe, Russia, Central Asia, Gulf States and India but at the same time it imports dry fruits from Iran, India and China. This year has seen a surge in the exports.
Bobby Butt, president of Akbari Market Committee, said that they have a food authority department. “We issue licenses to dry fruit dealers. We keep check on everything and ensure that nobody dare charge any extra money. However, in posh areas, they (the dry fruit dealers) increase the rates mainly because of huge rents for the shops.”
“It all depends on the duty levied on dry fruits that are imported. The dry fruit that come from Quetta and Peshawar are duty free but due to high transport cost some margin of profit is made.
The prices of imported dry fruit have surged this year owing to the devaluation of the rupee against the dollar and low production of crops in Balochistan and Khyber Pakhtunkhwa,” Bobby told The Nation.
He also gave the whole sale rates of different dry fruit items. The rates are fixed after evaluating the quality of product to be sold.
The whole sale rates for peanuts is ranged from Rs 250 to Rs340 per kg, pistachio with and without shell at Rs1,000 to 1,100 per kg, cashew nuts prices ranged between Rs3,500 and Rs4,000. Varieties of almonds without shell were available in the range of Rs850 to Rs925per kg.
American Almonds is available between Rs1,000 and Rs1,100 per kg. Dried fig price is ranged between Rs500 and Rs1,000 per kg. Walnut is available in price range between Rs900 and Rs1,200 per kg.
Abdul Qadeer, a dry fruit shop owner in Garhi Shahu area, said: “Last year, peanut was being sold in various city markets starting from Rs200 to 350 per kilogram, pistachio with and without shell at Rs1,200 to Rs1,600 per kg and Rs2,000 to Rs2,300, and cashew nuts from Rs1,400 to Rs2,400. The varieties of almonds without shell were available in the range between Rs1,200 to Rs1,450 while walnuts range varied between Rs600 and Rs800 per kg.
“This year, peanuts are being sold in various city markets at Rs400 to Rs600 per kg, pistachio with and without shell at Rs1,500-1800 per kg and Rs2,200-2,600 respectively, and cashew nuts Rs1,800-2,600. Dried fig prices ranged between Rs1,600 and Rs2,300 per kg and the varieties of almonds without shell were available in the range of Rs1,400 to Rs2,000. American almond is available between Rs1,600 per kg and Rs2,000 kg,” the shopkeeper added.
He was of the view that the prices were all market driven and according to demand of consumers.
On the other hand, buyers complained that shopkeepers were over charging as there was no fix rate list issued by the city district government. “The government should take action against profiteers and reduce their rates so that common people may also be able to purchase and enjoy dry fruit in this chilly weather,” said Zahid Azeem, a buyer at Beadon Road.
"Though I was expecting only a slight increase in dry fruits prices, the rate at which walnut prices have hiked at both retail and wholesale markets is really shocking," said Arhum, a housewife from Gulberg.
According to Malik Hussain, a retailer in Akbari Market, the sales have risen by around 40 per cent this year despite price hike. “We understand that the prices are high and perhaps beyond the reach of common people but this is all due to increase in demand from consumers,” Malik added.

Kerala - India: Crisis in cashew sector intensifies

Ignatius Pereira
KOLLAM: JANUARY 19, 2017 18:16 IST

Even as government-level talks are being carried out to reopen the private sector cashew factories that have been lying closed following the last minimum wage revision, the crisis in the sector is moving from bad to worse with banks declaring at least 60 cashew factories lying closed as non-performing assets and issuing notice to take possession of these properties.
Sources in the sector said that private processors who received notices owed amounts ranging from Rs.5 crore to Rs.50 crore each to various banks. The owners of these factories had availed themselves of working capital loans from the banks to operate the factories. But following the wage hike, they had kept the factories closed on grounds that the operation could result in huge losses.
The private sector was willing to agree for a 25 per cent hike in minimum wages. But the Industrial Relations Committee unilaterally declared and notified a 35 per cent hike. Subsequently, a 10 per duty on import of raw cashew nuts was imposed by the Central government and it made things all the more worse for the cashew sector.
Cashew factory owners in the State said that the import duty and wage hike will make their product highly uncompetitive in the international and domestic markets. That is because cashew is now processed in at least six States where the cost of production is very low compared to Kerala vis-a-vis the last wage hike.
Moreover, cashew processed in India encounters strong competition from Vietnam in the international kernel markets and already Vietnam has overtaken India as the biggest cashew kernel exporter globally. Following the wage hike and imposition of import duty, the cost of processing for processing one sack of raw nuts comprising 80 kg has touched almost Rs.4,000 in Kerala.
Compared to this, the cost of production for the same used to be Rs.2,200 during the pre-minimum wage hike period. As of now, the cost of production in Tamil Nadu for the same is Rs.1,500 and in Karnataka where most factories are mechanised it is Rs.1,250. In Vietnam, the cost of production for a sack is less than Rs.1,000.

India: Cashew crisis in Kerala now a hard nut to crack

By Express News Service  |   Published: 21st January 2017 05:01 AM  |  
Last Updated: 21st January 2017 05:01 AM

KOLLAM: Cashew sector has dealt a double blow to the government. On one side conciliatory talks with private companies for reopening the factories have failed and on the other two public sector companies, Kerala State Cashew Development Corporation (KSCDC) and Kerala State Cashew Workers Apex Industrial Co-operative Society Ltd (Capex), have closed down their factories sighting unavailability of raw nuts. According to officials with the two PSUs, corruption charges and related Vigilance inquiries have led to the closure.
“Anticipating the crisis, we had floated tenders for procuring raw nuts from the market. But sellers who had remitted the security deposit for the business pull themselves out in the last minute. Reason? They do not want to get involved in the legal tangles under way against the two PSUs. Any way we are floating new tenders,” said an official with Capex. Whereas, KSCDC says that it will open its new tender on January 26 and expects to open factories by February 1.
Meanwhile, KSCDC chairman S Jayamohan reiterates that unwanted controversies, meant to help the brokers, are derailing the functioning of the corporation as no competitive bidders turn up for quoting the tenders.
“Some private companies who do not pay even minimum wage to workers are behind the campaign. The financial liability we face now is due to the mismanagement in the past. The arrear in relation to gratuity is Rs 56 crore and in PF it is Rs 6 crore. The situation is such that due to back-toback complaints and related investigation, traders who have associated with the corporation in the past 10 years found themselves in the accused list. This has created doubts among new prospective sellers,” said Jayamohan.

Indian cashew crisis deepens

Publication date: 1/20/2017
The cashew crisis in India is getting worse, even as government-level talks are being carried out to re-open the private sector cashew factories that have been lying closed following the last minimum wage revision. And now banks are declaring at least 60 cashew factories lying closed as non-performing assets and issuing notices to take possession of these properties.

Sources in the sector said that private processors who received notices owed amounts ranging from Rs.5 crore to Rs.50 crore each to various banks. The owners of these factories had availed themselves of working capital loans from the banks to operate the factories. But following the wage hike, they had kept the factories closed on the grounds that the operation could result in huge losses.

The private sector was willing to agree for a 25 per cent hike in minimum wages. But the Industrial Relations Committee unilaterally declared and notified a 35 per cent hike. Subsequently, a 10 per duty on imports of raw cashew nuts was imposed by the Central government and it made things all the worse for the cashew sector.

Cashew factory owners in the State said that the import duty and wage hike will make their product highly uncompetitive in the international and domestic markets. That is because cashew is now processed in at least six States where the cost of production is very low compared to Kerala, vis-a-vis the last wage hike.


Nigeria plans to expand cashew cultivation area threefold

Publication date: 1/19/2017

Nigerian cashew producers are working on a four-year plan with the ultimate goal of increasing land dedicated to cultivating the crop and to increase exports threefold to 500,000 tons a year.

With about 160,000 hectares of land producing about 150,000 tons a year, farmers are seeking to bring an additional 340,000 hectares into cultivation to achieve industry targets, the President of the Nigerian Cashew Association (which groups farmers and traders), Tola Fasheru, said in an interview in Lagos.

"That should raise annual export income from the product to at least $650 million from the $253 million earned in 2015," he said.

Nigeria exports more than 80 per cent of its cashew output, mostly as raw kernels, with about 60 per cent of last year’s shipments going to Vietnam, according to the cashew association.

“Virtually all the states in the country have the potential to grow cashew. Our sights are even beyond the 2020 target,” Fasheru said, as they seek to make cashew one of the country’s biggest exports, he added.

Cashew is among 13 products identified by President Muhammadu Buhari’s government under its national strategic plan to expand agricultural export income and end the economic woes that made 2016 likely the first year of growth contraction since 1991 following the collapse of the price of oil, the country’s main export.


Thứ Ba, 24 tháng 1, 2017

Cashew market very slow in recent weeks

The cashew nut market has been calm for the past few weeks, Dutch edible nuts broker Global Trading & Agency observed in its first market report for 2017. “A lot of buyers enjoyed a well-deserved Christmas break. The market was very slow and prices eased a little bit,” the company added.
The company finds that the current supply for India and Vietnam has to come from Tanzania. First shipments are arriving and processing of the Tanzanian seeds will start just after the Tet holiday.
Read more:

IVC: Cashew nuts: The first edition of the national days of exporters scheduled for February

Abidjan, 23 Jan ( - 

The first edition of the National Cashew Exporters' Day of Côte d'Ivoire (JNEC-CI) will be held in Abidjan on 24 and 25 February, Association of Cashew Exporters of Côte d'Ivoire (AEC-CI), Diaby Aboubacar, at a launch ceremony.
The objective of these days is to create a platform for exchanges between national and international players, to meet the challenges related to the external marketing of cashew nuts, to make financing proposals adapted to the export of this product And to propose solutions to the problems linked to the improvement of the quality of cashew nuts "made in Côte d'Ivoire".
The symposium, which will be a symposium, will focus on the theme "Emergence of the cashew industry in Côte d'Ivoire and challenges related to external marketing". It will take place around the main centers of interest, namely official ceremonies (opening and closing ceremonies), conferences and debates on topical themes, Be to Be meetings and exhibitions of products and services.
The Director General of the Cotton and Cashew Nutrition Council, Dr. Adama Coulibaly, congratulated the AEC-CI for organizing these national days, an "important" event that "fills a deficit" in the cashew sector And assured the organizers of the support of its structure with a view to its institution.
Cashew was introduced in Africa in 1578 to Mozambique via Brazil. Its experimentation in Côte d'Ivoire dates back to the 1950s. Today, our country is the world's leading exporter, with production rising from 350,000 tonnes in 2010 to more than 602,000 tonnes in 2016, Of more than 72%. The current field price remains fixed at 500 francs per kilogram pending the opening of the new season.

Thứ Ba, 17 tháng 1, 2017

India: GST now set for July 1 roll-out, dual control hurdle finally over

January 16, 2017

The Goods and Services Tax (GST) Council on Monday broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from July 1, instead of the earlier deadline of April 1.  Whether a state or the Centre will assess an entity would be decided by a computer programme. The Council also resolved a logjam over the right to tax economic activities within 12 nautical miles from India’s coasts. Against the earlier proposals of reserving administration of assessees up to Rs 1.5 crore in annual turnover for states, or of allowing both the Centre and states to jointly administer these, the Council decided to blend the two suggestions. The entire tax base would be shared between the Centre and states in a predetermined ratio, Union Finance Minister ArunJaitley, the chairman of the Council, said at a press conference after the meeting.  The Centre agreed the states would have the powers to administer 90 per cent of assessees with an annual turnover of up to Rs 1.5 crore. The Centre will have the powers to audit, send notices and scrutinise the remaining 10 per cent. Only West Bengal’s AmitMitra did not agree, Jaitley said. Mitra later told reporters this agreement pertained to services only.

Assessees with a turnover over Rs 1.5 crore will be administratively controlled by the Centre and states in equal measure. However, Jaitley said no assessee would be controlled by two authorities and there would be computer-based enforcement at both the Centre and the states. Those assessees who fall under the integrated GST (IGST) — for the movement of goods and services between states — will also be administered by the Centre and states, depending on their annual turnover (Rs 1.5 crore, or more).

However, if there is a dispute between states over the place of supply, the Centre will have the power to administer those assessees. In all situations, the Centre will retain the power to collect this tax.

“Revenue will mostly come from entities with turnover of more than Rs 1.5 crore. Under that we get just three per cent revenue,” said a central government official. On whether or not assessees will change every year, he added, “Mostly, they will remain the same over a two- to three-year period. But, we are yet to take a call on that.”  Mitra also opposed the power of arrest given to officials under the GST.  The proposed structure has an arrest provision for tax evasion of Rs 2 crore and above. The offence is bailable up to Rs 5 crore.  Mitra said, “Many of us strongly oppose it… Our officers do not have the right to arrest. It was, of course, watered down but is still there.”

The Centre also gave the right to tax economic activities within 12 nautical miles to coastal states, even as it will be the territory of the Union. At present, these states have the right to tax these activities.

The next meeting of the Council has been convened on February 18. By that time, changes to various Bills will be worked out and these will ready to be passed by Parliament and state Assemblies. Rules and segment-wise GST rates will take till March to finalise, pushing the introduction of the GST to July 1. Jaitley said the tax could be imposed at any time during the year, and trade and industry would get time to prepare for it. M S Mani of Deloitte Haskins & Sells LLP, said, “We hope the subsequent legislative processes are calendarised, so that the final legislation with relevant rules is available to businesses at least three months ahead of the roll-out.” According to Pratik Jain of PwC, uncertainty over the GST was now over and India Inc would be happy.


Thứ Hai, 16 tháng 1, 2017

India: Commerce Ministry starts review of foreign trade policy: Nirmala Sitharaman

January 11, 2017

The commerce ministry has started the review of the foreign trade policy by consulting all stakeholders to see whether any support is required for certain sectors to further boost exports. Commerce and Industry Minister NirmalaSitharaman said the foreign trade policy (FTP) is in the process of a review. "When it (FTP) was announced in 2015, we had said we will go in for a mid-term review so that if there is any tweaking that has to be done, it will be done," she said here at the Vibrant Gujarat summit.

She said that the exercise of consulting people and taking stakeholders into confidence is on. The ministry is doing this "to see as to where and which sectors need that kind of tweaking in the policy". Since December 2014, exports fell for 18 months on the trot till May, due to weak global demand. Shipments witnessed growth only in June this year, thereafter again entered the negative zone in July and August. The outbound shipments are growing from September. But the global situation is still uncertain.

In April 2015, the government unveiled its first five-year Foreign Trade Policy (FTP), aiming to double exports of goods and services to USD 900 billion by 2020. In the FTP (2015-20), the government replaced multiple schemes with Merchandise Exports from India Scheme and Services Exports from India Scheme.Sitharaman also said that the ministry had requested the states to appoint export commissioners and formulate a policy

"The strategy behind that is that the states must have, in line with the FTP, but highlighting their own states' strengths," Sitharaman added. When asked extending extra concessions to US-based iPhone maker Apple to set up manufacturing unit in India, the minister said: "we have not taken a final call" on this. A team of the US-based iPhonemaker Apple will meet a group of senior officials from ministries, including IT and finance, on January 25 to discuss its demands for setting up a manufacturing unit in the country. The company had sought exemption on the ground that it makes state-of-the-art and cutting-edge technology products for which local sourcing is not possible.


Vietnam moves away from cash transactions

January 11, 2017

Deputy Prime Minister Vuong Dinh Hue has signed a policy decision encouraging cash-free transactions in Vietnam in order to reduce the number of cash-based deals, improve overall electronic payment methods and control tax evasion. Under the plan, by 2020, total cash transactions would total less than 10% of total market transactions; all supermarkets, shopping malls and distributors would accept credit cards; 70% of water, electronics and telecommunication service providers would accept cash-free payments from households and individuals, and 50% of total urban households would use electronic payment methods for daily transactions.

The policy also proposes the development of new payment methods for rural and remote areas in order to encourage financial inclusion and increase overall access to transaction services, so that at least 70% of Vietnamese over the age of 15 would have bank accounts by the end of 2020. Social welfare and pensions would also be paid through electronic payment methods.

“Cashless payment is an inevitable step,” said Le Xuan Nghia, a member of the National Advisory Council on Finance and Monetary Policy. “This move will save both time and cost to the nation, as well as to businesses and individuals.”

The few remaining challenges, he added, include online security for customers at commercial banks and the need for an automatic payment centre to be established by the State Bank of Viet Nam (SBV) to connect between paying customers and businesses or commercial banks. He believes this could be achieved in three to four years, noting that countries like Singa­pore, Malaysia and Thailand have long had such centres. — Viet Nam News/Asia News Network


IVC: Quality of raw cashew nuts at the heart of a workshop in Grand Bassam

January 11, 2017

Since this Wednesday, the Cotton and Anacarde Council has organized a workshop on improving the quality of raw cashew nuts in Côte d'Ivoire. This meeting, which takes place from 11 to 13 January 2017 in a hotel receptive of the city of Grand-Bassam, brings together deconcentrated administrations, actors, technical structures, technical and financial partners and the Ministry of Agriculture and Rural Development .

Representing the Mayor of Grand-Bassam, the 2 nd deputy expressed the city council's pleasure to host this workshop which contributes to the development of the cashew sector in particular and the Ivorian agriculture in general, pillar of our economy.

The president of the quality platform, Mr. Kouakou, for his part thanked first of all the Mayor of the first Ivorian capital (Grand-Bassam) for having accepted to host this brainstorming meeting. He also thanked the Director General of the Cotton Council and of the Cashew Council Dr Adama COULIBALY for this fine initiative, because, according to him, quality is an important factor in the development of the northeast and central areas and contributes to the balance of all chain. After four months of work, Mr. Kouakou is pleased today to share the fruit of their reflection and especially wants their proposals to be taken into account for an improvement in the quality of cashew nuts made in Côte d'Ivoire.

"Improvement and preservation of quality must now guide all stakeholders in the conduct of operations at each stage of the value chain and no effort should be spared as the challenge of improving Ivorian nuts is d 'All the more important that the equilibrium and the sustainable profitability of the sector depend on it because certainly the quality has a cost but it has especially a price on the international market. "Said Dr Adama COULIBALY, Director General of the Cotton and Cashew Council, who said he had great hope for the quality of the work of this workshop, the results of which must be immediately operationalizable It should be noted that it was the representative of the Director of Cabinet of the Minister of Agriculture and Rural Development (MINADER) who officially opened the proceedings.

Source: DS (

India: Cashew factories may reopen soon

January 14, 2017

Talks held by Minister for Cashew Industry J. Mercykutty Amma on Friday with the owner of a private cashew factory chain that has been lying closed for the past 18 months have given hopes that these factories could reopen soon.

The talks were held by the Minister as part of the government’s efforts to reopen the private cashew factories. Many owners closed down their factories following the last revision of minimum wages for cashew workers.

Owners had claimed the wage revision would push up the cost of production making them uncompetitive in the international cashew kernel markets. They said many States in India and Vietnam now processed cashew and the cost of production at these places was much lower than that in Kerala.

The owners said close on the heels of the wage revision came the Centre’s decision to impose duty on imported raw cashew nut. In Kerala, more than 90 per cent of the factories depended on imported raw nut for processing.

All these aspects were pointed out to the Minster by the owner during the talks. The Minister said the government would extend all help possible to the owners to reopen and sustain their factories.


Thứ Năm, 12 tháng 1, 2017

India: Take over closed cashew factories: Kanam

KOLLAM: JANUARY 10, 2017 00:00 IST

CPI State secretary Kanam Rajendran inaugurating a dharna by cashew workers in Kollam on Monday.—Photo: C. Suresh Kumar  

State secretary of the Communist Party of India (CPI), Kanam Rajendran has called upon the State government to take over private cashew factories which are being kept closed by the owners.
“Such factory owners are challenging the government and the cashew workers,” he said.
Mr. Rajendran said this while addressing cashew workers here after inaugurating the 101-hour dharna at Chinnakada here by the AITUC-affiliated Cashew Workers Central Council on Monday. In 1979 when factory owners resorted to the same modus operandi to deny fair wages to the workers, the then C. Achtha Menon government countered that threat by taking over the closed factories, he recalled. It was that bold move which led to the creation of the Kerala State Cashew Development Corporation which played the role of a model employer in the sector to ensure fair wages to the employees.
The dharna is being organised by the council to press for the demand of urgent government intervention to reopen the factories which are being kept closed after the last wage revision.
The State president of the council A. Fazaluddin Haq presided over the dharna. AITUC general secretary, K.P. Rajendran and CPI leaders K. Prakash Babu, K.R. Chandra Mohanan, J. Chinchurani and R. Ramachandran, MLA spoke.


India: Shortage in CNSL and Cashew Shells

10 Jan. 2017

Indian exporters’ buying interest is still in W240 but the North Indian demand is for mid-size grades. Price of W320 is around Rs 9000/including VAT/11.340 kilo/Goa-Mangalore.
However, activity is improving in cashew shells and shell oil. 
Most probably, the period of ‘through-away price’ is over due to severe shortage and sellers’ resistance. 

Source: World Cashew Blog

India: Winter Sale Begins in Cashew Kernel

21 Dec. 2016

Exporters buying rate for premium W240 is Rs 9000/+ VAT/11.340 kilo/Goa-Mangalore. North Indian buyers are purchasing W320 around  Rs 8900/inclusive of Tax/Tin of 25 LBs/Karnataka-Goa. South Indian demand for Jumbo Half is nearly Rs 9000/ inclusive of Vat/Same quantity.
Retailers expect further pick-up in demand when the cash withdrawal restrictions end.

Source: World Cashew Blog

India: Raw cashew prices hold the key for kernel prospects in 2017

Mon Jan 09 2017

The average price of cashew kernel, which stood at $4.25 per lb in 2016, is likely to stay unchanged this year provided Raw Cashew Nut (RCN) prices remain steady/lower in the coming months.

The average price for 2016 was $4.25 (fob) against $3.50 in 2015 and 2014 and $3.25 in 2013. In fact, the last quarter of the last year witnessed an upsurge in the price from $4.50 to $5 per lb in October and early November to drop to $4.75 by November-end and to $4.50 in mid-December, trade sources in Mumbai said.
Demand-supply scenario

Considering the demand and supply position in the coming months as far as kernels and RCN are concerned, “for most of 2017, the kernel price will be in the $4-4.25 per lb range with a reasonable possibility of a shortlived move below $4 at peak of the 2017 RCN season and a small chance of a move to $4.50, and maybe above, if demand is strong in the first quarter”, Pankaj N Sampat, a Mumbai-based dealer, told BusinessLine.

He said major users are well covered for the first quarter, partly covered for the second quarter and sparsely covered for the second half of 2017. Having seen very high prices in the last quarter, they seem to be waiting to see how the prices move in the first quarter before making additional purchases.

The recent decline in RCN prices from $2,400 a ton, which was at abnormally higher levels, to $1,900, is not enough to bring down the kernel prices.

In fact, to keep the kernel price near the 2016 average of $4.25 per lb, RCN prices need to come down quite a bit. Unless that happens, processors will be reluctant to sell below current levels, especially if they are asked to take large positions for spread shipments, he said.

According to Sundaran P, Chairman, Cashew Export Promotion Council of India, high RCN prices and the unattainable Standard Input-Output norms (SION) fixed by the DGFT for the cashew sector have resulted in the continuous decline in cashew exports.

Consequently, there has been a substantial increase of 49.36 per cent in the unit value of cashew kernel, which shot up to `632.31 a kg in November from `423.36 in November 2015,

If kernel demand picks up in January, its prices will remain steady or even go up a bit. This will mean that RCN prices at the beginning of the 2017 crop will be at around the current levels.

According to Pankaj, if kernel demand is subdued in January/February, processors won’t be in a hurry to buy when the 2017 crop arrival begins, and that, in turn, might lower RCN prices.

If processors are able to buy RCN at lower levels, they will start offering kernels at lower levels for shipments from March onwards.

In the first few weeks of the first half of 2017, if a reasonable volume of kernels is traded, processors may continue to pay high prices for RCN at the beginning of the 2017 crop. In case the RCN prices don’t come down significantly in early 2017, the extent of decline in kernel prices may be restricted, he said.

After three years of $3.25 and $3.50 average and one year of $4.25 average, the new “ normal “ will probably be $3.75-4.25 with a comfort zone at around $4/lb in 2017.

The average RCN price in 2016 was at around $1,600 a ton against $1,400 in 2015 and $1,100 in 2014.

High RCN prices have led to a sharp fall in its import by the Indian processing industry. During the first eight months of 2016-17, total imports fell by 30 per cent to 5,69,304 tons valued at `6,109.19 crore from 8,11,007 tons valued at `6,954.02 crore.

The average unit value has increased by 25.61 per cent to `107.31 a kg from ₹85.75 a kg in April-November 2015.


Thứ Bảy, 7 tháng 1, 2017

IVC: Soldiers launch mutinies in three Ivory Coast cities

06 Jan. 2017

West African nation's defence minister says the mutineers are demanding salary increases and payment of bonuses.

Ivory Coast descended into civil war after a disputed 2010 election [File: Legnan Koula/EPA]

Ivory Coast descended into civil war after a disputed 2010 election [File: Legnan Koula/EPA]

Demobilised soldiers in the Ivory Coast have launched mutinies in three cities, bringing the threat of unrest back to Africa's fastest-growing economy. 
While the ex-soldiers have not yet stated their specific demands, the West African nation's defence minister, Alain-Richard Donwahi, said on Friday they were demanding salary increases and the payment of bonuses. 
The unrest began in Bouake, the country's second-largest city and onetime rebel stronghold, where heavy weapons fire was heard in the streets before spreading to two other major urban centres of Daloa and Korhogo. 
Gunfire also reportedly erupted at a military camp in the western town of Daloa on Friday.
Al Jazeera's Nicolas Haque, reporting from Dakar in Senegal, said regular soldiers have now joined the ranks of rebel soldiers to take control of Bouake, after they seized weapons from police stations on Thursday night and took up positions at entry points into the city. 
"These are former soldiers that were part of an ECOWAS force trying to maintain peace in Liberia ... Then they returned back to Ivory Coast where there was also a civil war and played a role to maintain peace and order in the country," he said.
"Now they are saying they weren't paid for their services." 
The city was the seat of a rebellion that controlled the northern half of the country from 2002 until Ivory Coast was reunited following a civil war in 2011.
"In Bouake during the civil war we saw heavy bombardment from government authorities. We saw mass graves," said Haque. 
"There are a lot of young men with arms there," he continued, adding people in the city were unhappy with their current living situation. 
Heavy shooting was heard at about 2am before later easing, residents said, and sporadic gunfire continued into the late morning.
"The city is under the control of former [soldiers]," an army officer told Reuters news agency.
"There are many of them at the north and south entrances to the city. We are on alert and await instructions from the hierarchy."
An officer at the West African nation's military headquarters in the commercial capital Abidjan said reinforcements had been sent to Bouake.
"The situation remains unstable and serious," he said.
Both Laurent Gbagbo, then the incumbent, and his rival Alassane Ouattara claimed victory in the 2010 election and the country quickly descended into turmoil.
Gbagbo was captured in April 2011 by forces loyal to Ouattara and delivered to the International Criminal Court charged with crimes against humanity. Ouattara was sworn in as president a month later.
Residents stayed indoors and businesses in Bouake remained closed on Friday morning.
"The city is deserted. Men in balaclavas are patrolling the city on motorcycles or in cars. They aren't attacking residents ... They told us to stay at home," said Ami Soro, a teacher living in Bouake.
Meanwhile a Daloa resident - speaking by telephone from a cocoa processing factory near the army camp - said the sound of weapons firing was continuing on Friday.
"There is gunfire at the second battalion [base] in Daloa. It's young demobilised soldiers," the resident said.
There was no clear sign of a link between the Bouake events and outbreak of shooting in Daloa, but the fact that the rebels were also demobilised soldiers could indicate the uprising was spreading.
In November 2014, a strike by former rebels who had joined the army ground the country to a standstill after spreading to Abidjan from Bouake.
The nearly 9,000 strikers, who joined the army between 2009 and 2011, were demanding full payment of back pay and promotions. The government agreed to a financial settlement with the soldiers, who returned to barracks.