Oct Cashew Week Book 2014 eBook

8/9/2019 Oct Cashew Week Book 2014 eBook

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Cashew Week is the only one of its kind newsletter, exclusively designed

to give you information on Cashew markets in India and abroad updated

on a weekly basis.

For subscription & sample copies, write to [email protected]

PRESIDENT

G. SRIVATSAVA

VICE PRESIDENT

VINAYAK MEHARWADE

ASST. VICE PRESIDENT

SWAPNA

RESEARCH TEAM

SHALINI KULKARNI

SHRUTHI B N

VINAY SONI

VENKATRAMAN S

MARKETING

MINU

DESIGNER

K. RADHIKA

CHINNA.M

DATA SUPPORT

SANJAY

Foretell Business Solutions Pvt Ltd

#146, 1-2 Floor, Gopal Towers,Ramaiah Street, HAL Airport Road,

Kodihalli, Bangalore - 560 008

Tel:+91 80 25276152/53

Fax:+91 80 25276154

email: [email protected]

[email protected]

web: www.cashewinfo.com

Dear Readers,

We are happy to present to you this special issue

coinciding SIAL-PARIS and SIETTA 2014.

We are truly amidst interesting times. The LP prices

have skyrocketed by over 45% from 1.75 in January

2014 to 2.55 USD a pound during rst week of October.

At the same time, whole kernels have moved up by

a mere 5% to 3.55 USD to a pound. So, what is the

real reason behind the spurt in LPs and narrowing

differentials? Is it a supply side issue? Are we

producing less of brokens and more of wholes through better technologies? Or is

it a demand side issue? If it is a demand side issue, then, is it a structural change or a

temporary blip? What is driving this demand for LPs or brokens in general? Answers

to the above questions have many ramications on the future direction of the industry.Small differentials between wholes and brokens would accelerate in-situ processing

in Africa. It would also make mechanisation more accessible and affordable. Incentives

for large scale plants would increase. A close watch on the emerging trends in markets

and prices would immensely benet participants in planning ahead.

In our opinion, whole kernel prices have moved out of the range upwards and hence

would continue its momentum, albeit slowly. Also, the price volatility is expected to

increase in the next three to six months. Uncovered positions are vulnerable. Brokens

prices are likely to stabilise.

I take this opportunity to extend our sincere thanks to all the expert contributors- Shakti

Pal (TechnoServe), Jim Fitzpatrick (Ingredient Sourcing Solutions), Pierre RICAU

(NKal), Manoj Paul (Heat & Control), Malamine Sanogo (Cotton and Cashew

Council), Robert Saccoccio (Scalzo Food Industries) and all regular contributors of

cashew week.

We would be happy to have your comments and suggestions. Kindly send in your

feedback to us at [email protected] or [email protected]

Best wishes

G. Srivatsava

President

Foretell Business Solutions Pvt Ltd

www.cashewinfo.com


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Page7: Join us at the Biggest Cashew Event of the Year in the Biggest CashewCountry-SIETTA 2014

Malamine Sanogo, Director General, Coon and Cashew Council

(CCA), Cote dIvoire

Page 10: Understanding Cashew Kernel Market in Australia Robert Saccoccio, Category Manager of Scalzo Food Industries, Australia

Page 13: Every Heat and Control System Features Innovave Technology DevelopedThrough Years of Experience and Experse

Manoj Paul, Country Manager - India & South Asia Heat and Control

(South Asia) Pvt. Ltd, India

Page17: USA in the World Cashew Kernels Market ` Jim Fitzpatrick, Ingredient Sourcing Soluons, Ireland

Page 23: Cashew Week Volume 15 Issue 40 www.cashewinfo.com

Page37: Cashew Week Tome 15 Numro 39 (French Edion) www.cashewinfo.com

Page41: Cte dIvoire Cashew Market: Balance of 2014 Season and Perspecves for 2015 Pierre RICAU, Agro Markets Analyst, NKal Services, West Africa

Page42: Stascs: Indian Cashew Exim Trade - September 2014 www.cashewinfo.com

Page 45: Annexure

TABLE CONTENTS

Note to Patrons: Cashew Week is a weekly newsleer released every Monday & sent via email & accessible on

www.cashewinfo.com to all subscribers. Please note Cashew Week Special Issue 2014 is not a regularly printed weekly &

is especially printed for circulaon at SIAL Paris and SIETTA 2014 Ivory Coast. Subscribers will connue receiving

the regular newsleer in digital format.


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Cashew Week - Sial Paris & SIETTA, 2014Special

7October 2014

Join us at the Biggest Cashew Event of the Year in the

Biggest Cashew Country-SIETTA 2014

Mr Malamine Sanogo, Director General of Coon and Cashew Council (CCA)has shared the recent

innovaons and success story of CCA in Cote dIvoire cashew sector and objecves of SIETTAin an

interview with www.cashewinfo.com.Excerpts

2014 has been a remarkable

year for Cote dIvoire as it

saw the implementation of

several path-breaking laws. The

core market participants and the

farmers seem to be happy. Are you

satised with the progress? What

are the key learnings? How would it

help CCA going forward?

Actually, 2014 has been a remarkable

year for the cashew sector in Cote

dIvoire mainly because it is the rst

year of existence of the Cotton and

Cashew Council, the new state body

which manages the sector and the rst

year of implementation of the new

reforms. So, it is a real challenge for

the entire sector.

Fortunately, with the support of the

Government, the local administration

in producing areas, we have achieved

important results. The main goal of

the reforms is to improve and stabilize

farmers income by creating condition

for fair competition in the value chain,

improving the quality of raw cashew

nut, identifying all players and giving

them licence, reinforcing the control

of the farm gate price, exports contract

and quality. The army, customs and

police ofcers have been involved

to protect borders against fraudulentexportations; the message to producers

have been to focus on best post harvest

practices and they have been supplied

in draw bags.

As results, the average KOR has in-

creased from 46 to 48, exports contract

and farm gate price has been stabilized

from the beginning to the end of the

crop season. Some importers from In-dia and Vietnam let me mentioned that

some of them did not trust in us in the

beginning, but they have recognized

our progress now.

During this rst year, just with some

basic measures, we have obtained

encouraging results. This ensures us

that if we go forward with the new

reforms, we can reach better results.For the next crop season, we are plan-

ning to reinforce the former measures

and add new ones. These measures

concern mainly the implementation of

the new convention with the national

agency of rural development to teach

farmers new methods of planting. This

will improve the quality and increase

the quantity of the production of raw

cashew nut.

First time CCA is organizing "The

Cashew Processing Equipment

and Technology Trade Fair" in

Cte dIvoire. What you propose to

achieve through this? Do you have

a 'plan-B' should Ebola goes out of

control?

Year after year, Cote dIvoire hasbecome one of the main players of the

cashew sector specially, raw cashew

nut. One of the main goals of the new

reforms is to make Cote dIvoire a

major player in the entire cashew sec-

tor by creating a sustainable cashew

industry. The exhibition SIETTA has

to contribute to achieve this purpose.

SIETTA 2014 offers an opportunityfor manufacturers of food and agro

processing equipment to show and sell

their machines and to access the huge

potential of the African cashew sector,

with a special focus on Cte dIvoire.

In various forums on topics around

cashew processing technologies, food

safety, the cashew market, manage-

ment skills, doing business in Cte

dIvoire, as well as nance & busi-

ness planning, participants shall listen

to different experts in the sector and

raise questions for a successful cashew

processing business.

The main objectives of SIETTA:

Promote cashew processing

equipment and innovative tech-

nology:Participants and prospec-

tive investors will be informed

about the success factors to estab-

lish a protable cashew process-


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8 October 2014

ing business in Cte dIvoire and

Africa.

Support potential investors to

nance and set up their busi-

nesses in Cte dIvoire:Prospec-

tive investors will be informed

about nance mechanisms and

incentives to establish a process-

ing factory. In B2B meetings

and workshops with national and

international experts, you get a

comprehensive overview of the

global cashew processing indus-

try.

Encourage national consump-

tion of cashew kernels and

cashew by-products:Participants

and prospective investors will

have the opportunity to taste highquality cashew kernels, by-prod-

ucts and cashew dishes from all

over the world.

The SIETTA will take place in No-

vember from 26 to 28 in Abidjan. The

event concerns exhibition and confer-

ence with topics on all the value chain.

We are expecting guests from Viet-

nam, India, Italia, Geneva, Brazil and

African producing countries. Some

equipments are already in Abidjan and

some are on the way to Abidjan.At this

stage, we can say that the SIETTA will

take place.

Concerning Ebolas matter, it is clear

that it has a bad impact on the event

but we want to ensure our guests thateverything is done by the Government

to prevent the epidemic.

The Ivorian Government is working

closely with United Nations, World

Health Organization, Red Cross and

all the partners to avoid the spread of

the virus in Cote dIvoire. Today, there

are no ofcial restrictions for travel-

ling to Cote dIvoire and international

event are continuing taking place in

Abidjan like the Cocoa days, the quali-

cation rounds of the African Cup of

Nation.

In order to guarantee the safety of all

participants, SIETTA Committee has

installed a Health and Safety Commis-

sion chaired by the medical service of

the Cotton and Cashew Council.

The Commission has already estab-

lished a prevention plan, guaranteeing

temperature controls by infrared ther-

mometers at entry and hand washing

facilities. The presence of ambulance

service will ensure that potential case

are identied and isolated immedi-

ately.

The SIETTA Committee assures all

participants and partners of the exhibi-tion, that they will be informed at any

time about the developments in the

country.

So please, be quick, register on www.

sietta2014.com and join us at the big-

gest cashew event of the year in the

biggest cashew country.

Kindly share the opportunities forforeign investors to invest in IVC's

cashew sector, especially processing

of raw cashews. How do you support

and facilitate these initiatives?

Concerning the opportunities to de-

velop a cashew processing program,

we can just mentioned the potential

of local production of raw cashew

that will reach in few years about 700

thousand tonnes. It is also important

to underline the willpower of the Gov-

ernment to increase and stabilize farm-

ers income by improving processing

capacities. The new investment code

includes many facilities and advantag-

es regarding the area where processing

units will be built, mainly the north-

ern part of the country where cashew

is produced. Transport and logistics

facilities are also some advantages we

can mention.

To get more information about the

cashew processing development pro-

gram, visit and participate at SIETTA.

..............................................................

Malamine Sanogo

Director General,

Cotton and Cashew Council08 BP 1775 Abidjan 08

Cote dIvoire

Tel: +225 (22) 527580


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10 October 2014

Understanding Cashew Kernel Market in Australia

Mr Robert Saccoccio, Category Manager of Scalzo Food Industries, Australia shares insights on

Australian cashew kernel market, consumpon, consumpon paern, kernel imports into Australia in

an exclusive interview with www.cashewinfo.com. Excerpts

What has been the trend

in cashew kernel im-

port into Australia in

the last ve years

The domestic consumption in Austra-

lia has been relatively stable with a

demand ranging from approximately

14,000 tonnes to 16,500 tonnes. If you

go back the past decade, the range

would be the same.

Which are the major countries from

where Australia importing cashew

kernels and comment on competi-

tive of each of the countries.

The major countries from where Aus-

tralia importing cashew kernels are:

Vietnam(92%) - Predominantly

snacking market cashews with some

ingredient usage also. Vietnamese

cashew kernels have been around 90

per cent of Australias imports for over

a decade.

A decade ago, there was a more obvi-

ous quality difference as most of thecashews being exported from Vietnam

were Vietnamese or Cambodian seeds

used for processing. The product

looked whiter and the physical ap-

pearance in general was better as we

believe because the raw material was

handled, dried and stored better than

imports of damp product via sea.

Now the dominance from Vietnam is

a combination of a legacy (the market

is use to Vietnamese cashews) from

a decade ago and the proliferation of

lower priced shorter term offers from

medium or smaller packers in a com-

petitive market environment.

India(2%) - All for the snacking

market. There is room for the Indian

cashew industry to substantially grow

in the Australian market if prices are

competitive, quality is consistent and

infestation levels are reduced.

Indonesia(2%) For snacking mar-

ket but more of raw cashews and dry

roasted cashews. Due to the process,

Indonesian cashew kernels do not

seem to oil roast as well as cashews

from other origins.

Brazil (2%) - Brazil has a disadvan-

tage in terms of distance and freight

for the Australian market and we

know the Brazilian industry suits USA

consumption very much because of

distance and freight. The two per cent

of cashews that come to Australia

would generally be pieces where the

foreign contaminants are the main

concern. This is something the Brazil-

ian cashew industry does well.

What are main sources of cashew

kernels in Australian market? Com-

ment on the competitive of each of

the sources

The main source of cashews (and other

fruit and nuts) in the Australian marketare the major national supermarkets

and specically the fresh produce

areas of each supermarket (next to the

fruit and vegetables). In these areas,

the bag sizes of the cashews are quite

large at 750 grams per bag. Cashews

(along with other fruits and nuts) are

also sold in different sections of the

supermarket such as snacking, cooking

and health food sections but the bag

sizes are smaller and overall volumes

not as strong as the fresh produce area.

The wholesale channel is also quite a

large user of fruits and nuts with some

of the larger wholesalers being full

container buyers of cashews, almonds,

walnuts and apricots. Wholesalers

supply smaller markets such as coffee

shops, food service and other sec-

tors but it is a sizeable and important

channel.


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11October 2014

The ingredient sector where cashew

pieces are used for confectionery or

savoury ingredient lines exists but it

is not as large as the other nut prod-

ucts such as almonds, hazelnuts and

even walnuts. Part of the reason is aperceived more savoury avour and

the other part of it is an overall lesser

condence in foreign material levels

on cashew pieces. The market here has

condence that an almond, hazelnut,

walnut or even peanut can be used

directly into nished product. There is

less condence with cashews although

we are seeing some improvements.

Brief us the consumption pattern of

cashew kernels in Australia

These days, there are more promo-

tional activities throughout the season

and because Australia is an ethnically

diverse and sporting nation; Christ-

mas, Australia Day, Lunar New Year

period, Easter, Ramadan, Local Foot-

ball Finals in September etc are linked

in with promotional activities which

drives demand. There is a direct

correlation with price and volume in

Australia. A 750 gram bag of cashews

is among the most expensive items

one can place in their shopping basket

so affordability is important. We have

seen other higher priced nuts already

be packed in reduced bag sizes 400

grams to 500 grams due to cost factors

and this does negatively impact overallsales volumes.

Brief us the activities of 'The Aus-

tralian Cashew Association', how

does the association is helping in

cashew business

In May 2011, the Australian Cashew

Association was founded by Vice

Chairman Quin Scalzo - Scalzo Food

Industries and Chairman John Waring

Michael Waring Trading. The found-

ing and current membership controls

more than 75 per cent of all imports

into Australia. The main focus of the

association is to assist in promoting

sales, inuencing commercial activity,

mediating quality disputes between

suppliers, importers and customers.

What are the quality parameters

does processors/exporters need to

improve to export kernels to Aus-

tralia

Reduction in foreign material

we must always keep in mind this

is food

Reduced infestation The last

major improvement in infestationlevels was a long time ago when

changing from tins to exi-packs

however since then, there has not

been much of an improvement.

Even this year, we have receipted

and had to freeze numerous infest-

ed containers of cashews. This has

both a cost associated with it and

a supply disruption which gives

less condence to the industry

Reduced instances of off a-

vours we have seen a direct

correlation with receiving ca-

shews where the raw material was

originally from another origin be-

ing of lesser quality as a nished

kernel. We believe it is how the

raw material has been handled.

In agricultural products, the rst

thing done after harvest is to getraw material moisture levels down

to an acceptable level but due to

a lack of infrastructure in many

raw material growing countries,

cashew consignments can have an

inferior taste and appearance

Better traceability measures the

cashew has a very unique and

international supply chain yet we

are seeing customers more and

more wanting to know where

their food comes from. There is

improvement to be made here

Overall better hygiene practices

We also see increased demand on

ethical sourcing information and

compliance. Even if everything

is being done correctly, having it

correctly documented is becoming

more important

All the above points are unique to the

cashew kernel industry.

Details on retail and import prices

of kernels in Australia and value ad-

dition done for imported kernels for

domestic use

Importers and roasters generally make

skinny margins where most of the

upcharge is by the retailers to the nal

consumers keeping in mind Australia

is a very large continent and the major

retailers have large overhead costs.

As mentioned previously, most of

the cashew volume in Australia

comprised of oil roasted and salted

snacking. There are other markets

for dry roasted, avoured, dicing and

ingredients. However, oil roasted and

salted cashews are in more demand as

compared to others.

.............................................................

Robert Saccoccio

Category Manager

Scalzo Food Industries

156 - 174 Kensington Road, West

Melbourne, Victoria

Australia 3003

Tel.+61 3 9245 7000

Email [email protected]

Web: www.scalzofoods.com.au/


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13October 2014

Every Heat and Control System Features Innovative

Technology Developed Through Years of

Experience and Expertise

Heat and Control is one of the world's leading manufacturers of food processing and packaging

equipment systems.Mr Manoj Paul, Country Manager - India & South Asia Heat and Control (South

Asia) Pvt. Ltdhas shared the presence of Heat and Control in dry fruits industries, recent innovaons,

future prospectus of company in an exclusive interview with www.cashewinfo.com.

Interview excerpts

List out industries where

Heat and Control supply

their machinery.

Snack food

Meat, poultry, seafood

Candy, confectionery

Fruit, vegetables + salad

Bakery + cereal

Dairy + Cheese

French fries

Brief us the customer responses for

Heat and Control machinery.

We believe that our customers' satis-

faction is always the best measure of

our products and service.

The following response was from a

nut installation in the USA.

Testing at Heat and Control's Hay-ward facility was truly the decision

maker for this project. Having the

equipment set up as it would be in a

production facility gave us the op-

portunity to test our products through

several scenarios achieving optimal

results."

"Heat and Control's pilot plant tech-

nologist was over-accommodating andextremely knowledgeable about frying

processes, which very quickly helped

us dial in the roast and colour qualities

we were looking for." - Kars Nuts -

Matt Spence, Operations Manager

The two new lines have added about

9,525 Kg an hour of production capac-

ity to Kars Nuts Madison Heights

plant. "We currently run 20 hours per

day, 4 to 6 days per week," says Elam.

"We have the ability to move larger

amounts of product to one or morelines simultaneously." - Kars Nuts -

Bill Elam, VP Finance & Operations

What type of machines do you sup-

ply for the cashew industry, and list

some of your major buyers?

For seasoned, coated, honey-roasted,

and blended nut products, Heat and

Control builds a complete range of

equipment for nut preparation and

handling, frying, cooling, glazing,

application of seasonings and coatings,

conveying, weighing, packaging and

inspection.

We are offering a comprehensive

range of frying equipment, from batch

through to dedicated nut roasting

machines, to the very versatile Heat-

Wave frying system.

Batch roasters are available for up to

363kg/hr (or 800 lb) of nuts. Their


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14 October 2014

direct tube-red burner system dis-

tributes heat evenly without hot spots.

A unique cool zone below the heating

tubes extends oil life by separating

particles from the higher temperature-

cooking zone.

Continuous roasters are available for

a few hundred to several thousand

nished pounds/hour. Economical

direct-heated roasters range from

small countertop models to fryers over

28 feet long. High capacity externally

heated fryer systems are specially de-

signed for peanuts, almonds, cashews,

sunower meats and honey-roastednuts. All Heat and Control nut roasters

are available with continuous ltra-

tions and operate with low oil volume

to provide fast oil turnover rates for

fresh product with a long shelf life.

For the lowest oil volume, instead of

submerging nuts in a bath of oil, the

HeatWave Frying system cooks with

multiple curtains of clean oil. Fines areremoved immediately after oil contacts

the product and cleaning is greatly

simplied.

To help expand its selection of coating

systems and seasoning applicators,

Heat and Control, Inc. purchased

Spray Dynamics, Ltd., a leading inno-

vator of equipment for the controlled

application of liquid and dry ingredi-ents on a wide range of food products.

Applicators for powdered seasonings,

oil and water-based coatings, slurries,

chocolate, yogurt, release agents, and

many other coatings are designed to

optimise the efciency and quality of

processed and nished products.

Spray Dynamics line enhances the

versatility of our FastBack on-machine

seasoning systems and individual in-

kitchen avouring applicators. Most

important, it gives our customers a

greater choice of coating systems to

meet individual product requirements.

What is the key value proposition

that you offer to your customers?As consumer demand for healthy

snacks continues to grow, Heat and

Control has partnered with nut proces-

sors to meet their equipment needs for

superior product quality and safety,

lower production costs, and high oper-

ating efciency regardless of capacity.

Share the recent innovations of Heat

and Control machinery.Energy Recovery Heat Exchanger

(ERHX):Ovens waste millions of

BTUs in exhaust emissions that can

be utilized with our Energy Recovery

Heat Exchanger (ERHX). Pre-heat a

fryer systems cooking oil, heat water

for sanitation, or heat your building

using energy you normally throw

away.

FastBack FDX conveyor:FastBack

FDXTM Force Displacement drives

is 40 per cent smaller than compa-

rable inertia drive horizontal motion

conveyors but can handle runs up to

100 feet long and up to 300 cubic

feet of product accumulation. Like all

FastBacks, the patent-pending FDX

provides gentle horizontal motion con-

veying that reduces product damage,eliminates the loss of seasonings and

the separation of pre-mixed blends,

and is easy to clean. FDX also makes

economic good sense, it can be reused

with different pans when line layouts

change.

Revolution mid-gate: Mount the new

Revolution Mid-Gate product distri-

bution gate at the beginning, middleor end of the FastBack conveyor pan.

Mid-Gates unique cylindrical design

eliminates pinch-points and the risk

of cross-contamination for reduced

product breakage, easy cleaning and

safe responsive full open to full-closed

speeds for all throughputs.

Modular Dust Collection system:

Airborne seasoning dust creates a

hazardous work environment, product

cross-contamination, and a sanitation

nightmare. Now you can eliminate

these problems with Heat and Con-

trols new Modular Dust Collection

(MDC) unit.

Compared to whole-room dust collec-tion systems, the MDC costs about 40

per cent less and can cut energy usage

by as much as 30 per cent.

Integrated into a new FastBack

Revolution On-Machine Seasoning

station, this compact unit collects dust

at the point of application. It requires

no hood or bracket over the product

area. Modular Dust Collection retrotpackages are also available for most

existing Revolution OMS applicators.

Future prospectus of Heat and

Control

Every Heat and Control system fea-

tures innovative technology devel-

oped through years of experience and

expertise in delivering food operations

around the world. Heavy duty con-struction provides decades of reliable

operation and low lifecycle costs to

produce nut products of the highest

quality.

Designing a smart footprint solution

that punches well above its weight,

helping processors achieve volume

goals with space and budget restric-

tions. Innovative design and engi-neering solutions produce equipment

designed for maximum versatility


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15October 2014

and production efciency. Skilled craftsmen, using state-

of-the-art manufacturing tools, build rugged machinery to

withstand the toughest production schedules and harshest

working environments. Attention to detail results in the

industrys toughest and longest working food manufactur-

ing equipment.

To keep ahead in the industry we are continually looking

into the future, taking our role as innovators seriously.

So where do we see ourselves in the next few years?

Commitment to Efciency + Environmental Impacts

Achieve clean energy goals

Helping food processors reduce the environmental

impact of their manufacturing with cooking equipment

that protects air quality, conserves water, and reduces

energy use

Multiple avouring applications on one complete line

More integrated systems (i.e. One single system -

rather than separate components)

Achieve consumer reality

Achieve production + cost efciency

Achieve better line performance

................................................................................................

Mr Manoj Paul

Country Manager - India & South Asia

Heat And Control South Asia Private Limited

E-2, 3rd Avenue, Anna Nagar, East, Anna Nagar,

Chennai, Tamil Nadu , India

Phone: 044 4210 3951

Email: [email protected]

Web: heatandcontrol.com


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17October 2014

USA in the World Cashew Kernels Market

Jim Fitzpatrick, Ingredient Sourcing Soluons, Ireland

The USA is thelargest importerof cashew nutkernels in the World and

is second only to India in

consumption of cashew

kernels. Unlike India the

USA is not a producer of

cashew nuts and will notbe for climatic reasons. In 2013 it imported over 131,000

tonnes of cashew nut kernels with a value of USD 912 mil-

lion. This represented a 38 per cent share of World imports

by volume. Almost all of the imported nuts were consumed

in the USA with re-exports representing only 1.56 per cent

of the imported volumes. Therefore, the USA consumes

approximately 25 per cent of the Worlds cashew nut kernels

every year.

Fig 1: World cashew nut kernels consumption by region

(tonnes)

The USA is the second largest consumer only surpassed in

its appetite for cashew nuts by India a major producer and a

country with a population approximately four times that of

the USA.

USA import and consumption of cashew nuts dates back

to the beginnings of the international trade as early as the

1920s when USA buyers imported from India for use in

snack foods. USA consumption of cashew nut kernels led

the World until recent years when with increased prosperity

Indian consumption grew rapidly and India became the

leading consumer. The rapid growth in consumption in Eu-

rope and the Middle East further diluted the USA share of

the World import market from 50 per cent of World imports

early in the last decade to 38 per cent in 2013. The rapid

growth in Indian consumption in particular has reduced the

USA share of consumption from 35 per cent in 2000 to 25

per cent in 2013. Nevertheless, USA import volumes and

values have grown in the period despite strong competitionfrom heavily promoted almonds, volatile prices of cashew

nuts and the recession from 2008.

Today the USA is the largest importer and has the high-

est per capita consumption of cashew nuts of the major

consuming countries. Demand appears to be going from

strength to strength based on heavy supermarket promo-

tion, the improved consumer health prole of edible nuts

in general, growing consumer awareness. Whilst prices for

cashews are no longer set in New York, as they once were

the US remains a crucial market in determining both prices

and supply or demand balance in the global context.

Fig 2: USA cashew kernels annual imports 1996- 2013

with linear trend (tonnes)

Imports of cashew kernels maintained steady growth

throughout the 1980s and 1990s. In that period it was

often predicted that demand would stagnate as cashew con-

sumers were seen as older and more conservative. The early

years of the last decade proved this inaccurate as demand

continued to grow primarily driven by low cashew prices

but culminating in the consumer craze that was The

Atkins Diet boosting demand for cashew nuts to record


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18 October 2014

levels. After the record of 2004, demand growth returned

to more expected levels until 2008 when it was interrupted

by the nancial crisis but has returned to growth since 2012

stimulated by price stability.

The USA share of the World imports and consumption hasfallen in recent years. This has been due to growth else-

where in consumption as mentioned. This globalisation of

cashew demand in the past ten or fteen years has lessened

the inuence of the US market in the global context as

competition for product now comes from a broader range of

destination markets. It has also increased the diversity and

the likelihood that an American buyer will source cashews

from a new origin.

The concentration of supply in India and Vietnam creates agreater level of risk for the USA buyer of cashew kernels.

The USA buyer has to compete in India with the burgeon-

ing domestic market, which is cheaper to serve from a cost

point of view, and due to its structure pays higher prices

on faster payment terms. This has led to a greater level of

dependence on Vietnam as a source of supply. The USA

buyer is left with few choices as the only other major

producing region, Africa, has not yet developed a process-

ing industry despite producing more than 40 per cent of the

Worlds cashews. USA buyers have been actively trying topromote the diversication of cashew sourcing with activity

by retailers and importers.

Fig.3: US imports cashew kernels by region of origin

2009-2013 (tonnes)

However efforts to diversify supply have been frustrated to

a large extent by the fall of Brazilian exports and the lack

of processing capacity development in African countries

which has limited imports from African countries. In ad-

dition competition from European buyers for the samereasons has increased as European demand has grown in

recent years.

US import statistics for the past ve years as indicated

in Fig. 3 show as follows:

A volatile but ultimately upward trend in import vol-1.

umes

Increased volume imports from all regions except Bra-2.

zil from where volumes have dropped by 67 per cent2009 vs. 2013

An increasing market share for Vietnam from 44.6 per3.

cent to 57.5 per cent meaning that essentially Vietnam

has gained almost all of the increased import volume

over the period

Increased import volumes from all of the lesser supply4.

regions

More than doubling of the market share from African5.

countries.

Seasonality in the US Market

As a luxury food consumed primarily as a snack cashew

kernels demand is subject to the inuence of the main festi-

val periods. Thanks giving, the last Thursday in November

and Christmas (25th December) is closely followed as peak

consumption periods by the Superbowl (American football)

usually at the end of January. Packers and roasters prepare

for this in advance so that imports tend to peak from the

end of the 2nd quarter to the end of the 3rd quarter in any

given year. Physical imports tend to grow throughout the

year, peak in August and then fall away to the end of the

year. The market is responsive to major events such as the

nancial crisis of 2008 which saw imports collapse from

September onwards and will in some years when demand

is better than expected place top up orders later. The

guideline for the trend is 45 per cent during the rst half of

the year and 55 per cent in the second half but this may be

more heavily weighted in favour of the second half in years

of high growth in consumption ex. in 2013, 41 per cent

cashew kernels were imported in rst half and 59 per cent

in second half. This seasonality tends to suit origins in the

Northern hemisphere which have their crop seasons in the

period March-May such as Cote DIvoire.

Fig 4: US cashew kernels imports by quarter 2007-2013

(tonnes)


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20 October 2014

The impact of the seasonal demand on prices is more com-plex. In the past when long forward buying was the practice

among USA buyers with contracts as far as forward as eigh-teen months, the impact was very limited in terms of prices.

In recent years there has been a tendency to take shorterperiods of cover. This was initially a result of the nancial

crisis of 2008 but continued through periods of very highprices in 2019, 2010 and 2011.

US Demand and Prices

The US market is reputed to be highly sensitive to changesin price of cashew kernels. This is due to a number of fac-tors:

US cashew retail sales growth depends on store promo-tions based on priceThe vast bulk of cashew products are sold through

large supermarket chains

High level of per capita consumption of cashew nuts.Availability of a range of competing domestically pro-duced tree nuts e.g. almonds and pistachiosThe vast bulk of cashew nuts have consumed as

roasted and salted snacks meaning that the cashew ker-nel constitutes up to 80 per cent of the cost of productunlike in food ingredients where the nut cost is likely

to be much lower

The presence of private label supermarket business atapproximately 29 per cent of the market.

As described above the underlying trend in US imports ispositive. It is now driven by the positive health and well-ness prole of edible nuts as a natural product, changes in

eating habits which suit snack foods, demographic factors,

stratication and diversication in the snack food sector,

use of edible nuts in a wider range of products as a food

ingredient and in the past two years stable prices.

Increases in price from an average range USD 2.20-2.50 perlb. in the early years of the last decade to levels today in therange USD 3.10-3.50 per lb. have not deterred the underly-

ing growth in consumption in the USA. There is evidencehowever to suggest that the pace of this growth is dictated

by the level and volatility of prices. Over the longer period,

this pattern seems to be conrmed with high rates of growth

in periods of price stability or following price corrections.

Rates of growth in USA imports become volatile following

price volatility indicating that in the short term the USAbuyer will respond to price increases by reducing demand

but that increasing prices over a longer period do not stopdemand increasing.

Outlook for US demandTrends in imports and the resilience of demand in times ofvolatile prices and recession indicate that the outlook for

demand in the USA is positive. Price is not the only factorinuencing the growth in demand. Consumer trends are

important as we see with the major demand spike in 2004

due to The Atkins Dietfad but also as indicated by moredeeply underlying trends in the health prole of edible nuts.

Demand for cashew nuts is also inuenced by the prices

and availability of other tree nuts especially now following

the highly successful promotion of USA grown almonds as

snack foods. This is partly due to the USA pattern of saleof nuts in mixed nuts packs including a range of tree nuts

but in which the cashew content is often the determinant of

marketability and success according to roasters interviewed.

There are indications in historical import statistics going

back many years that USA buyers are more likely thantheir counter parts in Europe, Asia or the Middle East toconsider cashew kernels from new origins. Recent increases

as detailed above in import from African countries conrmthis is still the case and anecdotal evidence from buyerssuggests that the level of import is constrained by availabil-ity and not by willingness to consider new sources. In fact

interest from importers and crucially supermarkets in ca-shew supplies from West Africa indicates there is a demand

for diversication and new sources of supply.

Summary

The USA is a major importer and consumer of cashew

nut kernels

The underlying trend in demand is positiveThe importance of the USA market has faded some-what due to the globalisation of cashew demand and

especially demand in IndiaPrice and especially price volatility are important de-terminants of short term growth patterns unlike in other

destinations such as India and EuropeSeasonality is a factor but seasonal patterns match well

with main production seasons

USA buyers buy from all origins, are interested indiversication of supply.

Buyers Requirements

Cashew buying in the USA is undergoing a transition. This

has been ongoing for some years among larger buyers andmajor importers. The essential element of this change isthat the buyer takes a close interest in the manufacturing

process rather than simply the quality of the product onarrival at the roasting and packing facility in the USA. The

introduction of the Food Safety Modernisation Act and

USFDA (Food and Drug Administration) proposals for its

implementation has meant that all buyers must now take

more responsibility in the value chain. This has led to awider requirement for process certication especially in the

area of food safety.


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21October 2014

The FDA implementation proposals are currently underreview but it is clear that the requirements for doing busi-ness with USA buyers have become more rigorous and will

continue to tighten in the years to come. At the present timeaccreditation or certication for food safety management or

systems remain a competitive advantage as so few proces-

sors Worldwide comply however these are moving frombeing an advantage to becoming a basic requirement.

Since the introduction of the Food Safety ModernisationAct the buyer or importer has had to take on the respon-sibility not only for the product quality on arrival at themanufacturing or packing facility but also is responsible forany hazards or adulteration which may have arisen during

the shelling and grading process at origin. The buyer isresponsible for the establishment and monitoring of a FoodSupplier Verication Programme. This means that the buyer

or importer is responsible for oversight of the process. Thisis generally done through the auditing and monitoring ofsuppliers who must have in place a risk and hazard identi-cation and management system. The relationship between

the processor and buyer assumes a different character thanin the past with a more involved and long term association

likely to develop.

Summary

USA buyers are heavily focussed on price in a com-petitive marketQuality is a very important factorIn procurement the focus is changing toward the pro-cess as opposed to simply the end result the product

Importers and buyers are responsible under the provi-sions of the Food Safety Modernisation ActTo full responsibilities under the act buyers will have

to engage more deeply with their suppliers

Being reliable as a supplier and meeting certication

requirements can be a competitive advantage.

................................................................................................

Jim Fitzpatrick

Ingredient Sourcing Solutions

IrelandTel: +353 61 748 848

Email: [email protected]


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23October 2014

Cashew Week Volume 15 Issue 40

28th Sep to 04th Oct, 2014

Indian Cashew Kernel Market

Indian markets continued to be strong with the up-

coming Diwali (23-10-2014) demand. Buying interest

for cashew kernels sustains despite price hike.

Cashew processors in India and other countries are ooded

with enquiries for broken cashews something not heard of

in the Western world in decades. As a result, broken kernel

prices in Vietnam have gone up dramatically. In India,pieces prices have gone up by about 40 per cent in the last

12 months. It is likely that kernel prices may rise further in

coming days.

RCN Market in India

World RCN markets are yet to absorb origin related infor-

mation. RCN prices are still on the upper side. Processors/

buyers are eagerly waiting for Tanzanian RCN due to lower

availability to process further.

In Kerala and Karnataka (South Canara), farmers replaced

the cashew plantation with rubber plantation on the percep-

tion that rubber prices will remain high. Now, rubber prices

have crashed. So any further cutting down of cashews is

likely to stop. It is time to promote cashew orchards with

the same technicality and approach as rubber, at least in

Kerala and Karnataka.

Indian CNSL Market

During the week, cashew shell and shell liquid prices

showed some weakness on increased supply.

US and Europe Cashew Market

With the increase in prices of kernels, the buyers from Eu-

rope, US and other countries have started to work on their

projections for the last couple of months of 2014 and the

rst quarter of 2015.

US imported 14525 tonnes of cashew kernels worth of

99.73 million USD during July 2014. Import of cashew

kernels in July 2014 by US increased by 32 per cent in vol-

ume and 33 per cent in value compared to kernel imports

in June 2014. Overall, in the rst seven month of the year

2014, USA imported 69891 tonnes of kernels worth of 465

million USD, which is higher by 2.73 per cent in volume

terms and lower by 1.43 per cent value terms compared to

the same period in 2013.

Table 1: Source-wise volume and value of kernels im-

ported into USA during July 2014

Country Volume (tonnes) Value (million USD)

Vietnam 9715 65.50

India 2696 20.22

Brazil 525 3.18

Cote d`Ivoire 344 1.88

Indonesia 251 1.86

Mozambique 250 1.77

Ghana 242 1.39

Thailand 166 1.57

Kenya 78 0.51

China 63 0.51

Burkina Faso 44 0.32

Italy 32 0.23

Togo 21 0.15

Netherlands 17 0.11

Bolivia 16 0.11

Others 65 0.43

Total 14525 99.73

Fig 1: Per cent share of countries in total import of ker-

nels by USA (January to July 2014)


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24 October 2014

Vietnam Cashew Market

During the week, kernel prices have gone up with the in-

crease in demand and shortage of RCN.

During the week, Middle East buyers were active in Viet-

nam. Reasonable trades noticed at good prices.

Shortage of RCN for processing in Vietnam is causing early

closure of some factories. This, in combination with the

increasing demand, is creating a price increase between 5 to

10 per cent.

Middle East Cashew kernel market

Market is stable at higher side; there is no major change in

the prices for the last week. Trade between Iran and Dubaiincreased since couple of weeks.

Table 2: Current Dubai market trading prices for tree nuts

Products OriginMarket Prices per Kg

Variaon (%)09/27/2014 10/04/2014

Cashew Kernel -W240 IndiaAED 35.50 AED 35.50 0.00

USD 9.73 USD 9.73 0.00

Cashew Kernel W320 IndiaAED 31.00 AED 31.00 0.00

USD 8.49 USD 8.49 0.00

Almond Shelled 20/22 NPX CaliforniaAED 42.00 AED 42.72 0.77

USD 11.51 USD 11.72 1.83

Almond Shelled 27/30 NPX CaliforniaAED 38.00 AED 38.00 0.00

USD 10.41 USD 10.41 0.00

Walnut Light Halves 80 % Candler CaliforniaAED 51.00 AED 51.00 0.00

USD 13.97 USD 13.97 0.00

Walnut Light Halves 80 % Candler IndiaAED 39.00 AED 39.00 0.00

USD 10.68 USD 10.68 0.00

Pistachio 18/20 US CaliforniaAED 45.50 AED 45.50 0.00

USD 12.47 USD 12.47 0.00

Pistachio 20/22 IranAED 46.00 AED 46.00 0.00

USD 12.60 USD 12.60 0.00

RCN Season in Southern Hemisphere Region

In Tanzania, there is a good progress in collection of raw

nuts into the primary societies. Some regional societies re-

ported recieving of the cashew nuts from end of the septem-

ber. First auction is likely during second week of October.

In Kenya, cashew nut arrivals are likely to start by October-

November. It is expecting that Kenya will produce approxi-

mately 8000 tonnes of cashew nuts during the year.

New crop arrival in Mozambique likely to start by last

week of October. Looking to the present condition, it is

expecting that the crop will be good (around 70 to 80 thou-

sand tonnes). However, the exact gure will be known by

October November.

Crop arrival has started in Indonesia and crop seems to be

at the same level or bit better than the previous year. How-

ever, it is too early to predict the crop size as of now. In last

season, Indonesia produced 40 thousand tonnes of cashew

nuts. During the current season, the prices offered were not

promising. Offered prices range between USD 1600 and

1725 USD per tonne cnf.


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26 October 2014

Cashew Grades 09/27/2014 10/04/2014 Month High & Low

(06th Sep to 04th Oct)

% change since be-

ginning of the year

(01/04/2014)High Low

Tucorin (USD/lb fob)-export prices

W240 3.80 3.90 3.904.00 4.00 3.65 2.60

W320 3.45 3.50 3.50-3.60 3.60 3.25 5.97

W450 3.103.20 3.20-3.30 3.30 3.10 5.69

SW320 3.103.15 3.20-3.25 3.25 3.10 5.74

SW360 2.953.00 2.953.00 3.00 2.95 4.39

SSW 2.702.75 2.702.75 2.75 2.70 10.10

Bus 2.652.70 2.652.70 2.65 2.60 5.94

Splits 2.552.65 2.552.65 2.65 2.55 14.29

Large Pieces 2.40 2.50 2.40 2.50 2.85 2.80 42.03

Mangalore Karnataka (INR/ Kg)W180 816 825 825 811 10

S180 767 767 767 767 12

W210 728 736 736 705 11

S210 679 679 679 661 10

W240 617 617 617 617 9

S240 573 573 573 573 7

W320 538 538 538 538 4

W1 525 525 527 525 7

SW 514 514 514 511 4

SSW 485 485 485 485 5

JH 485 489 489 476 13

S 472 476 476 459 16

LWP 434 450 450 423 19

SWP 388 388 388 379 19

K 459 467 467 441 16

JB 467 472 472 463 16

Kollam (INR/Kg)

W180 728 728 728 705 -7

W210 639 639 639 617 -3

W240 551 551 551 529 -5

W320 494 494 494 485 -0.03

W450 459 459 459 450 -2

SW240 467 467 467 459 1

S (Splits) 467 467 467 434 8

SS 410 410 410 379 16

Bus 441 441 441 397 14

SB 375 375 375 353 9

SP 397 397 397 353 25

WSP 401 401 401 362 30Delhi (INR/Kg)

W320 No. 585 570 585 560 8

Table 3: Indian prices of cashew kernels


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28 October 2014

Cashew Grades 09/27/2014 10/04/2014

Month High & Low

(06th Sep to 04th Oct)% change since be-

ginning of the year

(01/04/2014)High Low

W210 No. 710 710 720 710 -11

W240 No. 660 660 670 660 2

W180 No. 860 860 860 820 -42 pieces 490 490 490 443 23

4 pieces 468 468 468 405 26

8 pieces 385 385 385 350 27

Sangrur (INR/Kg)

W320 733 733 733 683 11

W210 795 795 795 748 13

W240 778 778 778 723 16

W180 845 845 845 798 10

2 pieces 620 620 620 558 16

4 pieces 603 603 603 550 18

8 pieces 538 538 538 485 11

Jeypore Orissa (INR/Kg)

Local Raw Nuts 95 95 95 92 12

W210 725 725 725 640 13

W240 600 610 610 600 2

W320 525 530 530 525 -2

W400 490 500 500 490 2

S240 550 550 570 550 10

S320 495 495 495 495 5

S 465 465 465 465 11

K 440 430 440 420 10

LWP 440 450 450 440 13

SWP 390 400 400 390 25

JH 470 470 470 420 15

Vetapalem AP (INR/Kg)

W210 650 640 650 620 -3

W240 550 540 550 525 -4

W320 500 490 505 490 4

SW 475 475 475 400 16JH 510 500 510 485 11

K/LWP 450 450 450 425 25

W1 465 470 470 460 8

JB/Bus 475 470 475 455 24

W400 465 465 475 460 7

Panru Tamil Nadu (INR/Kg)

W240 551 551 551 551 4

W320 485 485 485 450 2

JH 450 450 450 420 18

JK 419 419 423 388 22

LWP 406 406 406 362 24


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29October 2014

Cashew Grades 09/27/2014 10/04/2014

Month High & Low

(06th Sep to 04th Oct)% change since be-

ginning of the year

(01/04/2014)High Low

SWP 350 350 350 330 17

Jalandhar - Punjab (INR/Kg)

W320 725 725 735 700 12

W210 783 783 805 755 11

W240 763 763 775 738 10

W180 815 815 845 778 10

Vengurla Maharashtra (INR per 1 Kg + VAT 5%)

W180 900 880 900 880 5

W210 770 770 770 760 4

W240 670 670 670 660 5

W320 570 570 570 570 2

W400 510 510 510 510 13

JH 530 535 535 520 19

K 510 500 510 490 16

LWP 500 480 500 460 20

S 525 510 525 500 19

Goa (INR per Kg)

W180 870 870 870 850 2

W210 730 730 730 730 4W240 650 650 650 650 2

W320 570 570 570 560 6

W400 510 510 510 500 13

JH 510 510 510 500 16

K 490 490 490 460 14

BB 260 260 260 260 13

NW 480 480 480 480 4

*Mangalore Prices are exclusive of tax. Tax for inter-state sales- CST 3 per cent, Tax for local sales 4 per cent VAT Note:

W= White Wholes, S= Splits, SW= Scorched Wholes, SSW= Scorched Wholes Seconds, DW= Dessert Wholes, LWP=

Large White Pieces, SWP= Small White Pieces, BB= Baby Bits, SB= Scorched Butts, SS= Scorched Splits, SP= Scorched

Pieces, 1kg = 2.24lb

Table 4: Cashew Raw Nuts Prices

Origin 09/27/2014 10/04/2014% change in price over

previous week

India, local (INR per 80 kg bag) 6500 6500 0.00

IVC (USD per tonne) 1060 1070 3.92

Benin (USD per tonne) - 1205 0.00

Ghana (USD per tonne) 1035 1040 -3.72

Note: Landed cost


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33October 2014

Currency Movement

Table 7: Forex rates (in USD)

Currency 09/26/2014 10/03/2014% change from beginning

of the year (01/03/2014)

Indian Rupee (INR) 61.145 61.720 -0.87

Euro (EUR) 0.788 0.799 8.56

Japanese Yen (JPY) 109.280 109.770 4.69

Brazilian Real (BRL) 2.420 2.459 3.47

Chinese Yuan (CNY) 6.127 6.139 0.59

Singapore Dollar (SGD) 1.275 1.282 1.21

Tanzanian Shilling (TZS) 1675.500 1680.000 5.76

Thai Baht (THB) 32.330 32.640 -1.12

Mozambique New Mecal (MZN) 30.250 30.700 3.37

Vietnam Dong (VND) 21217.500 21247.500 0.70

Indonesian Rupiah (IDR) 12022.500 12176.500 0.54

Benin CFA Franc BCEAO (XOF) 519.490 526.800 9.57

Ghanaian New Cedi (GHS) 3.235 3.210 37.33

USD vs INR Movement

Fig 2: USD/INR weekly chart

Indian rupee last week hits the seven month low of 61.96 against the dollar on

improving economic activities in US may lead to raising of interest rates sooner

than later in Q1 or Q2 of 2015. The re-

cent weakness in rupee is mostly with

respect to surge in dollar index.

RBI as widely anticipated kept key

rates unchanged during last week

monetary policy review. The RBI is of

the opinion that economic growth in all

sectors is yet to stabilize as deciencyin monsoon may stall agricultural

growth which may spill over to other

components of economy. It also retains

its earlier growth forecast of 5.5 per

cent for 2014-15.

Indian rupee last week traded in the

region of 61.26 and 61.96 and nally

settled weaker at 61.54 against the

dollar. Technically rupee likely to testprevious week low of 61.96 or 62.14


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35October 2014

level on the lower side and on the higher side, it may hold

the initial support around 61.14-61 and unlikely to drop

further in the short-term.

USD vs BLR Movement

Fig 3: USD/BLR weekly chart

Brazilian real last week traded in the region of 2.4198 and

2.5098 and nally settled around 2.4588. Real declined

to 2.50 against the dollar on pre-election fears. Brazils

presidential race is headed to a second round after PresidentDilmaRousseff won the most votes on Sunday but failed

to clinch the outright majority. Rousseff will face the more

conservative AecioNeves in a runoff on October 26.

Real may trade in the region of 2.40 and 2.50 in the comingfew weeks and only October 26th re-election will signal

clear direction.

USD vs VND Movement

Vietnams budget revenue in the rst nine months of 2014

is expected to be 636 trillion Vietnamese dong (USD30.14

billion), up by 17.2 percent year-on-year, accounting for81.3 per cent of the years estimate, said Vietnams Minis-

try of Finance (MoF).

Vietnam dong traded weaker on rising demand for dollar

from importers surges as nal leg of 2014 quarter began

and on expectations that central bank may devalue dong.

Last week Vietnam dong traded in the region of 21180 and

21332.50. Technically Vietnam Dong may continue to trade

in a broad range of 21150 and 21400 levels going forwardwith bias on the lower side.

Fig 4: USD/VND weekly chart

Fig 5: Comparative Movement of Currencies in 2014

vis--vis USD in cashew processing regions (Weeks

starts from January 2014)

(Note: Currencies Indexed to the frst week currency as-

sumed to be 100)


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37October 2014

Cashew Week Tome 15 Numro 39 (French Edition)

Priode du 21 au 27 Septembre 2014

Inde: Le march des amandes de cajou

Les marchs indiens se renforcent de plus en plus avec

une hausse de la demande relative la fte de Diwali

qui se tiendra le 23 Octobre 2014. Les acheteurs continuent

montrer un intrt pour les amandes de cajou en dpit de

la randonne dans les prix.

Les transformateurs de cajou en Inde et dans dautres payssont inonds de demandes pour les amandes de cajou cas-

ses. Ceci est quelque chose de pas entendu du monde oc-

cidental depuis des dcennies. En consquence, les prix des

amandes casss au Vietnam ont augment de faon spec-

taculaire et en Inde environ 40 pour cent d'augmentation

des prix de cette catgorie damandes a t observ dans les

derniers 12 mois.

Au regard de la situation actuelle, il est fort probable que

les prix des amandes de cajou connaissent encore une aug-

mentation dans les prochains jours.

Inde: Le march des noix brutes de cajou

Le march international de noix brutes de cajou est dans

lattente dinformations des zones de production. Les prix

des noix brutes de cajou sont toujours hors de porte. Les

transformateurs et acheteurs attendent avec impatience les

noix brutes tanzaniennes en raison de la pnurie.

A Kerala et Karnataka (Sud Canara) les agriculteurs ont

remplac des plantationsde noix de cajou par des planta-

tions dhva sous prtexte que les prix du caoutchouc

resteront toujours levs. Mais maintenant, les prix du

caoutchouc connaissent galement une baisse. Ainsi

labattage des anacardiers peut tre frein et il est temps

de promouvoir les vergers de noix de cajou avec la mme

technicit et approche que lhva, tout au moins au Kerala

et Karnataka.

Inde: Le march du baume de cajou (CNSL)

Au cours de la semaine, la coque de noix de cajou et les

prix du baume ont montr une certaine faiblesse compara-

tivement l'offre.

USA et Europe: Le amrch des amandes de cajou

Avec l'augmentation du prix des amandes, les acheteurs en

provenance d'Europe, des tats-Unis et d'autres pays ont

commenc travailler sur leurs projections pour les deux

derniers mois de 2014 et le premier trimestre de 2015.

tats-Unis ont import 14 525 tonnes damandes de cajou

en Juillet 2014 dune valeur de 99,73 millions USD. Les

importations damandes de cajou ont augmentes de 32%

en volume et de 33% en valeur par rapport Juin 2014.

Dans l'ensemble, au cours des sept premiers mois de l'anne

2014 l'importation damandes de cajou par USA a atteint 69

891 tonnes pour une valeur de 465 millions de dollars.

Fig 1: Principales sources dapprovisionnement en

amandes de cajou par les USA de Janvier Juillet 2014)

Vietnam: Le march de lanacarde

Au cours de la semaine, les prix ont augment avec

laugmentation de la demande et la pnurie des noix brutes

de cajou. Les acheteurs du Moyen-Orient ont t actifs

sur le march du Vietnam et ont de bonnes affaires. La

pnurie de noix brutes pour la transformation au Vietnam

est lorigine de la fermeture anticipe des usines. Ce fait


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38 October 2014

combin avec la demande croissante a cr une augmenta-

tion de prix de 5 10%.

Moyen Orient: Le march des amandes de cajou

Le march est stable. Il ny a pas de changement majeur

dans les prix de la dernire semaine. Les changes commer-ciaux entre lIran et Duba ont augment depuis quelques

semaines.

La campagne de noix brutes de cajou dans lhmisphre

sud.

En Tanzanie, il ya un progrs dans la collecte des noix

brutes dans les socits primaires. Certaines socits r-

gionales vont commencer recevoir les noix de cajou la

n du mois de septembre. Il y a un espoir davoir les ventes

aux enchres lors de la deuxime semaine dOctobre.

Au Kenya, les arrives de noix de cajou sont susceptibles

de commencer entre Octobre et Novembre. On espre que

le Kenya va produire environ 8000 tonnes de noix de cajou

au cours de lanne.

Les nouvelles rcoltes du Mozambique sont susceptibles de

commencer vers la dernire semaine dOctobre. Au regard

de ltat actuel, on sattend une bonne rcolte (environ

70 80000 tonnes), mais le chiffre exact sera connu entreOctobre et Novembre.

Les exportations des nouvellesrcoltes ontcommenc en

Indonsie et le produit semble tre au mme niveau ou

un peu mieux que lanne prcdente. Cependant, les prix

proposs ne sont pas prometteurs. Les prix offerts ont t

compris entre USD 1 600 et 1725 USD par tonne cnf.

Tableau 1: Prix des noix brutes, amandes et produits

drivs du cajou en date du 27 septembre 2014

Dsignaon 20/09/2014 27/09/2014

Prix des noix brutes de cajou

Indian RCN (USD per ton) 1335 1328

IVC (USD per ton) 1020 1060

Benin (USD per ton) 1125 -

Ghana (USD per ton) 1075 1035

Nigeria (USD per ton) 920 -

Tucorin (India) (USD per lb fob)

W240 3.653.75 3.80 3.90

W320 3.253.45 3.45 3.50

Dsignaon 20/09/2014 27/09/2014

W450 3.103.20 3.103.20

SW320 3.103.15 3.103.15

SW360 2.953.00 2.953.00

SSW 2.702.75 2.702.75

Bus 2.652.70 2.652.70

Splits 2.552.65 2.552.65

Large Pieces 2.40 2.50 2.40 2.50

Roerdam (USD per lb FCA)

WW240 3.90 3.95 4.00 4.10

WW320 3.50 3.55 3.55 3.60

WW450 3.40 3.45 3.40 3.45

Vietnam (USD per lb fob)

W240 3.75 3.78 3.78 3.85

W320 3.35 3.38 3.38 3.45

W450 3.16 3.18 3.25

WS 2.70 2.75 2.70 2.75

LP 2.45 2.50 2.55 2.60

IVC (USD per ton CNF) 1150 1150

Ghana (USD per ton CNF) 1015 1015

Nigeria (USD per ton

CNF)955 955

Benin (USD per ton CNF) 1330 1330

Mozambique (USD perton CNF)

1355 1355

Tanzania (USD per ton

CNF)1405 1405

Guinea Bissau (USD/ton

CNF)1500 1500

Dubai (USD/kg)

W240 9.73 9.73

W320 8.77 8.49

Prices of Cashew by products in India (USD per kg)Cashew Nut Shell Liquid 0.567 0.564

Cashew Shell 0.148 0.151

Cashew Cake 0.066 0.069

Cardanol 1.117 1.112

Tableau 2: Taux de change (USD)

Dvises 19/09/2014 26/09/2014

Indian Rupee

(INR)

60.860 61.145

Euro (EUR) 0.779 0.788


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39October 2014

Dvises 19/09/2014 26/09/2014

Japanese Yen

(JPY)109.050 109.280

Brazilian Real

(BRL)2.368 2.420

Chinese Yuan

(CNY)6.141 6.127

Singapore Dollar

(SGD)1.267 1.275

Tanzanian Shil-

ling (TZS)1668.000 1675.500

Thai Baht (THB) 32.200 32.330

Mozambique

New Mecal

(MZN)

30.450 30.250

Vietnam Dong

(VND)21205.000 21217.500

Indonesian Ru-

piah (IDR)11967.500 12022.500

Benin CFA Franc

BCEAO (XOF)513.810 519.490

Ghanaian New

Cedi (GHS)3.313 3.235

LIndian Rupeea ferm au niveau le plus bas des troisdernires semaines 61.14, une baisse de 0,32%, effaant

les pertes profondes du taux de 61,62 contre le dollar. Au

cours de la prsente semaine, lIndian Rupee pourrait fairelobjet dune session de commerce volatile car lexamen de

la politique du RBI prvue mardi, devrait maintenir le taux

dintrt inchang. Techniquement le Rupeeest susceptiblede tester la semaine prcdente avec les taux variant de

61.62 61.74 et peut atteindreles niveaux de 61 et 60.70.

Le Real du Brsil termine la semaine dernire avec des

pertes de 2 2,42% contre le dollar avec la prvision decroissance lente qui est de 0,9% et lalternance politique.Mme lination devrait rester leve, ce qui peut inciter

la banque centrale du Brsil maintenir les taux dintrt

inchangs. Techniquement le taux de 2,44970 doit tre

surveill de prs. En dessous de ce niveau, le Real du Brsil

pourrait enregistrer nouveau le taux le plus bas en 2014.

Le Vietnam Dong sest affaibli la semaine dernire, en dpitde la bonne activit conomique. Son excdent a atteint 1

milliard de dollars au premier trimestre, 683 millions dedollars au cours des quatre premiers mois, 1,6 milliard dedollars au cours des cinq premiers mois et de 1,3 milliardsde dollars au premier semestre. Aprs sept mois, lexcdent

a augment de 1,26 milliards de dollars. Les taux dintrt

du dong, savoir les taux de dpt, les rendements des ob-ligations dtat et de billets de trsorerie ont t assouplis,ce qui a galement affaibli le dong. La semaine dernire le

Vietnam Dong a t chang dans la rgion entre 21160 et

21240. Techniquement le Vietnam Dong peut continuer sengocier entre 21450 et 21300.


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41October 2014

Cte dIvoire Cashew Market: Balance of 2014 Season and

Perspectives for 2015

Pierre RICAU, Agro Markets Analyst, NKal Services, West Africa

2014 cashew season have been historical in Cte

dIvoire. It was the rst time that cashew prices were

steady almost all the main season. Farmers sold 90

per cent of their production between 0.4 and 0.5 USD/kg,

which is not the best price they have seen but which is a

fair price for them.

2014 season have begun with good forecast for yields and

an expected increase of Ivoirian output from 510 thousand

tonnes in 2013 to 530 tonnes in 2014. Even if weather have

not be so nice from end of April with early rain damaging

the last owering, the nal output was above our expecta-

tion and we know estimate that total output have reach 550

thousand tonnes in 2014.

More than 510 thousand tonnes have been exported as raw

cashew nut and more than 35 thousand tonnes are being

processed by the growing local industry.

Currently, Ivoirian industries have a capacity to process

around 60 thousand tonnes/year but as many factories arejust beginning their activities and they could only reach

between 35 thousand and 40 thousand tonnes in 2014. With

the current good conditions for business in Cte dIvoire

and the SIETTA event in November where more than 5000

stakeholders and investors are expected, we think many

new factories should begin to run in the coming years.

In 2015, we expect Ivorian production to reach around 600

thousand tonnes. Rain and humidity condition have been

very good so far for next season but as the rainy season is

expected to last until end of October 2015 harvest could be

late by a few weeks.

*Estimated from current RCN purchases and Kernel ex-

ports during 2014 frst quarter

................................................................................................

Pierre RICAU

Agro Markets Analyst

NKal Service

West Africa

Tel : 00225 57369981

www.nkalo.com


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42 October 2014

Statistics: Indian Cashew Exim Trade - September 2014

Import of Cashew into India during September

2014

During September 2014, India imported 109 thousand

tonnes of RCN worth of 126.96 million USD. As compared

to August 2014, RCN imports decreased by 24.43 per cen-

tin volume and 21.03 per cent in value.

Table 1: Country-wise import of RCN into India during

September 2014

Country of origin Volume

(tonnes)

Value

(USD million)

Guinea Bissau 39076.51 50.11

Ivory Coast 35708.14 37.49

Senegal 9917.04 11.89

Benin 7466.39 8.76

Gambia 6440.93 8.19

Ghana 4579.70 4.64

Guinea 3023.02 3.29

Nigeria 1034.75 0.93

Burkina Faso 946.22 0.92

Togo 763.61 0.65

Bangladesh 92.00 0.08

Mali 31.00 0.02

Total 109079.31 126.96

India imported major quantity (36%) of RCN from Guinea

Bissau followed by Ivory Coast (33%) and Senegal (9%).

During the month average unit price of imported RCN were

high for the origin Guinea Bissau (USD 1.28 per kg), fol-

lowed by Gambia (1.27 USD/kg) and Senegal (USD 1.20

per kg). Overall, the average unit value of imported RCN

observed during September 2014 was USD 1.16 per kg.

Overall, in the rst six months of the nancial year Indiaimported 707 thousand tonnes of RCN worth of 778.10

million USD.

Fig 1: Per cent share of countries in total RCN imports into

India during September 2014

Along with the RCN during September 2014, India import-

ed 118.24 tonnes of cashew kernels worth of 0.41 million

USD. In which Vietnam exported 102.51 tonnes of broken

kernels worth of 0.24 million USD and Thailand exported

15.72 tonnes of value added kernels worth of 0.17 million

USD to India. The unit import value for broken kernelsfrom Vietnam observed at USD 1.07 per lb fob.

Table 2: Port-wise import of RCN into India during

September 2014

Indian Port Volume

(tonnes)

Value

(USD million)

Tucorin Sea 73388.69 86.90

Cochin Sea 19849.32 23.06

Mangalore Sea 9200.74 10.61

VIZAG 3126.68 3.18

Kolkata Sea 1574.88 1.46

Mundra Sea 948.85 0.85

Ludhiana ICD 460.88 0.39

JNPT 286.15 0.27

Goa Sea 211.14 0.22

Petrapole LCS

Sea32.00 0.02

Grand Total 109079.31 126.96

Exports of Cashew from India during September 2014In September 2014, India exported 8.36 thousand tonnes of

kernels worth of 61.96 million USD. USA, UAE,


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44 October 2014

Netherlands, Japan, etc remained as the major export desti-

nations for Indian cashew kernels during the month.

As compared to August 2014, the exports volumes de-

creased by 23.45 per cent where as value by 23.18 per cent

in September 2014.

The average export price in September 2014 stood at USD

3.39 per lb fob for wholes, USD 2.61 per lb fob for bro -

kens.

Table 3: Destination-wise exports of cashew kernels

from India during September 2014

Desnaon

Country

Volume

(tonnes)

Value

(USD million)

USA 1956.37 14.24UAE 1463.41 11.16

Netherlands 763.18 5.55

Japan 591.08 4.62

South Korea 347.11 2.60

Saudi Arabia 345.00 2.70

Germany 286.62 2.15

United Kingdom 260.95 1.92

Vietnam 190.51 1.37

France 180.30 1.29

Belgium 170.10 1.30Greece 138.94 1.06

Singapore 123.60 0.96

Nepal 108.64 0.60

Spain 94.18 0.69

Algeria 90.00 0.56

Kuwait 86.30 0.66

Russian Federaon 77.70 0.51

Israel 63.50 0.45

Italy 63.50 0.48

Iran 63.22 0.46China 59.33 0.49

Malaysia 58.55 0.42

Jordan 58.20 0.50

Canada 47.63 0.34

Trinidad AndTobago

47.63 0.34

Thailand 47.63 0.34

Egypt 45.00 0.38

Turkey 41.41 0.30

New Zealand 32.75 0.21

Lithuania 30.88 0.22

Bahrain 21.30 0.13

Desnaon

Country

Volume

(tonnes)

Value

(USD million)

Australia 17.01 0.10

Czech Republic 15.88 0.11

Poland 15.88 0.11

Slovakia 15.88 0.10Cyprus 15.88 0.14

Finland 15.88 0.11

Hungary 15.88 0.10

Qatar 15.00 0.11

Lebanon 14.00 0.17

Others 268.98 1.90

Total 8364.79 61.96

In the rst six months of nancial year 2014-15, India

exported 54.55 thousand tonnes of kernels worth of 403.71

million USD.

Fig 2: Per cent share major countries in total exports of

kernels from India during September 2014

Table 4: Port-wise export of cashew kernels from India

during September 2014

Indian Port Volume (tonnes) Value (USD million)

Cochin Sea 4009.64 29.37

Tucorin Sea 2013.32 15.26

Mangalore Sea 1067.97 8.08

Vizag 774.83 5.97

Chennai Sea 144.38 1.04

Ludhiana ICD 115.40 0.73

Rexual Road Sea 108.64 0.60

Goa Sea 60.21 0.45

Mundra Sea 45.95 0.33

JNPT 11.60 0.08

Others 12.85 0.05

Grand Total 8364.79 61.96

In September 2014, India exported 1996 tonnes of RCN to

Vietnam at a value of 2.70 million USD through Tuticorinport. The average export value of RCN to Vietnam

observed at USD 1354 per tonne.


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45October 2014

Annexure

Annexure 1:Import of Cashew Kernel, almond shelled and walnuts shelled into France (1996-2013)

(Units= Volume in tonnes, value in USD million)

Year Cashew kernel Almond, shelled Walnut, Shelled

Volume Value Volume Value Volume Value

1996 3947 18 19966 124 3691 13

1997 4498 20 21784 117 4636 15

1998 6915 28 20789 96 5428 17

1999 4606 21 21117 73 4496 12

2000 4338 22 24296 73 6025 16

2001 5077 23 24075 68 6525 18

2002 4992 18 27869 85 6434 19

2003 3646 14 27053 101 6162 18

2004 4400 18 27436 133 7197 23

2005 5338 28 28467 205 7191 30

2006 6300 30 27531 184 7768 37

2007 6946 34 26011 151 7758 42

2008 6599 39 28384 144 7265 44

2009 6335 35 30440 126 7523 35

2010 5586 35 27898 135 7020 41

2011 5294 45 30420 162 7385 57

2012 6249 49 32628 183 7766 53

2013 9044 66 31714 231 9164 72

CAGR (%) 2.76 6.51 2.60 4.88 3.84 10.54

Source: UN Comtrade

Annexure 2:Imports of cashew Kernels into France from major countries

(Units = Volume in tonnes, value in USD million)

Year India Vietnam Brazil Others

Volume Value Volume Value Volume Value Volume Value

2000 2824.20 16.13 22.30 0.14 530.00 2.31 961.86 3.39

2001 3910.30 19.07 60.90 0.29 511.90 1.33 593.80 2.66

2002 3186.40 13.57 125.80 0.62 872.70 2.13 806.90 1.90

2003 2870.20 11.49 55.70 0.25 548.40 1.49 172.10 0.75


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47October 2014

Year India Vietnam Brazil Others

Volume Value Volume Value Volume Value Volume Value

2005 3669.60 18.86 370.40 2.00 872.20 4.04 425.30 2.62

2006 4045.30 18.77 303.60 1.50 658.90 2.92 1292.20 6.35

2007 4366.80 20.79 330.30 1.49 797.50 3.09 1450.90 8.92

2008 4088.50 23.72 427.00 2.31 764.20 3.61 1319.60 8.89

2009 3512.80 20.31 1414.90 6.75 717.20 3.37 690.20 4.94

2010 3503.00 21.40 941.20 6.02 567.10 2.65 574.50 4.50

2011 3046.60 26.06 1049.20 8.78 541.80 4.30 656.60 5.98

2012 2845.00 22.43 2193.24 16.37 628.46 4.58 582.39 5.38

2013 4136.68 30.14 3803.36 27.83 635.57 4.12 468.62 4.16

CAGR (%) 0.77 5.19 40.83 45.04 -0.10 7.41 1.16 10.45

% Share in 2013 45.74 45.50 42.05 42.01 7.03 6.22 5.18 6.28

Source: UN Comtrade

Continued...


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Oct Cashew Week Book 2014 eBook

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