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 Tư, 25 tháng 1, 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.
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
By Julian Gale
Published: 16 January 2017 04:16 PM
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.
Thứ Ba, 17 tháng 1, 2017
Thứ Hai, 16 tháng 1, 2017
Thứ Năm, 12 tháng 1, 2017
CPI State secretary Kanam Rajendran inaugurating a dharna by cashew workers in Kollam on Monday.—Photo: C. Suresh Kumar
Source: World Cashew Blog
Source: World Cashew Blog
Thứ Bảy, 7 tháng 1, 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]