S W WK S W WK - cashewinfo.com · Kernel price for 2)rious grades continued to remain soft and may...

A Product of

Cashewinfo Market Summary

Cashew Experts Market Commentaries–India

and International

Almond Report

Domestic Prices of Nuts

International Prices of Nuts

In the Cashew Week.. Released on December 11th

, 2017

Currency Movement and Outlook

Vietnam Cashew EXIM data November-2017

US Cashew Import Data-October-2017

News Highlights

Upcoming Trade Events

CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK

A WEEKLY NEWSLETTER

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Global Cashew Market at a Glance

India

In India cashew kernel FOB price remain unchanged at previous week level.

In its mid-term review of foreign trade policy (2015-2020), which was released during the middle of

last week, India has hiked the export incentive on Merchandise Export Incentive Scheme (MEIS) by 2

percent across all sectors (which include cashew). Further, the validity period of the Duty Credit Scrips

has been increased from 18 to 24 months to enhance their utility in the GST framework. The GST rate

for transfer/sale of scrips has been reduced to zero from the earlier rate of 12%. Rules were simplified

for duty free import of raw materials for exports with self-declaration and this scheme will be

applicable to the AEOs (Authorised Economic Operators) initially.

Moreover, duty free procurement of raw materials/inputs used for manufacturing export products

under Advanced Authorisation, EPCG (Export Promotion for Capital Goods) scheme, 100% Export

Oriented Units (EoUs) facility continued under GST.

Vietnam

Vietnam cashew kernel exports in the month of November-2017 totalled 32,479 tons with value being

USD 325,625,985. Year to date exports totalled 325,485 tons, valued USD 3.23 billion.

Vietnam RCN imports in November-2017 totalled 44,433 tons with value being USD 94,443,766. Year

to date RCN imports totalled 12, 26, 606 tons, valued USD 2.41 billion.

The import price of RCN from Tanzania to HCM port continued to fall from the last month high of USD

2450 per ton to USD 2350 per ton CFR during last week.

Kernel price for various grades continued to remain soft and may stay lower ahead of Christmas and

New Year eve. Moreover, good RCN crop harvests in Tanzania and Mozambique are likely to

pressurise the RCN as well as kernel price in the near term.

Vietnam rainfall data from Dec-01-2017 to Dec-09-2017

Place Rainfall (mm) No of rainy days

Da Nang, Quang Ngai 57 7

Tay Ninh 38 7

Dalat 142 5

Dong Hoi 131 6

Lam Dong 11 3

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Binh Phuoc, Long An 38 7

Phu Yen 2 1

Heavy rains in December are not conducive for cashew crop as it may affect the flowering and fruit

setting. Rains recorded in Dong Hoi, Dalat in the first nine days of this month is not a good sign for

cashew crop. In other provinces light to moderate rains recorded during the above mentioned period.

Rains should reduce going forward; otherwise it may pose challenge to Vietnam rcn crop, like that of

last year.

Tanzania: RCN arrival at various warehouses during this week continues to be steady. It is most likely

that RCN production for 2017/18 season is likely to surpass last year production estimate of 265,000

tons (as on Dec-11-2017, the figure stood at 250,252 tons). The produce to the warehouses is likely to

continue till first week of Jan-2018, signalling production figures could touch news highs in the region

of 280,000 and 290,000 tons.

USA: The USA cashew kernel imports in October-2017 came in at 14,934 tons as against 13,591 tons

imported during the same period in October-2016. In the first 10 months of 2017, the USA cashew

kernel imports totalled 130,989 tons as against 118,811 tons imported during the same period in

2016.

Source: Cashewinfo

Cashew Market Commentaries from Experts

CNSL update Mangalore-Karnataka

In Mangalore, CNSL is being traded in the region of INR 21.50 and 23 per kg, while cake has fetched

around INR 4.40-4.70 per kg and shells about INR 6.40-6.70 per kg. Cardanol is traded at INR 48 per kg.

Source: Kanco Venkatesh and Santhosh Silva, Karnataka

There is substantial increase in the prices of raw cashew shells, CNSL and also the cake. Availability is

less and the demand for CNSL is more from furnace oil industry. Present rate of CNSL is INR 22.50 per

kg and cake is at INR 6.0 per kg. Cashew shell is quoted at INR 8.40 per kg. Price may surge ahead.

Source: O.N. Phadnis, Panruti, Tamilnadu

The cashew nut market is not very active. Buyers are covered for 2017 and awaiting further

developments before filling in the gaps for the 1st and 2

nd quarter 2018. Prices of RCN came down little

bit but kernel prices remain stable for WW320. We do not expect significant change in the coming

weeks towards years’ end.

Source: Kees Bokland, Global Trading Agency, The Netherlands

Markets continued to remain weak during the last week as most of buying destinations are closing for

their biggest holidays of the year. Very limited trades were done at Usd 4.60/4.70 per lb fob for W320.

The demand of W240 continued to be less. Most of the medium packers need to move goods as they

cannot sit on goods for long, while top packers have plenty of time to ship the signed contracts and

not in a hurry to sell for first quarter of 2018. Most of the offers are for Dec and Jan shipments, which

means that unsold goods from packers are there, from their stocks.

Some quantities had been engaged for first quarter of 2018 delivery by top packers. It is reported that

top and reliable packers traded W320 at Usd 4.90 per lb fob last week; however, the fact is not yet to

be confirmed.

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The RCN market is quiet due to weak demand from export market. A lot of RCN is available in the

market, waiting for buyers. Tanzanian RCN is too expensive, but most of the Tanzania RCN is bought

by Vietnam packers. The parity between the current prices of Kernels and RCN are widening, which

means packers are losing their money by buying RCN at such higher prices. Some of them are

expecting that market to recover in the coming time when the major holidays from US and EU are

over. Buyers need to in buy large quantities, while waiting for new crop to come in. In addition to this

China will buy certain quantity for its Chinese Lunar New Year. The prices will not probably go down

sharply and will adjust slightly in the coming time depending on demand and supply. Supply from now

till Feb is ok, so it is better to watch out happenings in the coming weeks.

Source: Mr. Kim, Khiem Nguyen Co., Ltd, Vietnam

Vietnam offered price for Chinese markets

It has been weeks the market is stable, but dull. Offers and deals from Vietnam are very limited. There

is an interesting situation wherein the price level gap is quite large between different quality cargos.

On one hand, offers from larger factories are WW240 at 11.70-11.80usd/kg (5.32-5.36 usd per lb),

WW320 at 11.20-11.40usd/kg (5.07-5.13 usd per lb), and WW450 at 10.60-10.80usd/kg (4.18-4.90 usd

per lb). On the other hand, small factories are offering WW240 at 10.70-10.80usd/kg (4.85-4.90 usd

per lb), WW320 at 10.40-10.60usd/kg (4.72-4.81 usd per lb), and WW450 at 10.20-10.40usd/kg (4.63-

4.72 usd per lb). Many processors are saying that they are running out of raw material and the

factories will be closed next month if they don’t get new RCN orders. Nevertheless, due to the high

price of RCN, they might prefer closing and perhaps wait for the VN new crop. We feel the pressure of

selling WW240 and WW320 these weeks. It seems Vietnam processors can’t get orders of these two

grades from other markets at this point of time.

Source: Will Lee, China

Tanzania

The prices in the 7th Auctions were as follows:-

Lowest price Tshs 3700/kg (USD 1.67 per kg).; The highest price Tshs 3960/kg (USD 1.78 per kg).

A total of 30,498 tons were marketed. Thus, the total volume of RCN marketed since the first auction

to date to be 249,137 tons. The highest price recorded to date was Tsh 4128/kg (USD 1.86 per kg).

Source: According to the information from Cashewnut Board of Tanzania

Chart-1: Cashew Kernel- W320- Average FOB prices at Tuticorin port, India (USD/lb)

Cashew kernel price for various grades remain unchanged when compared with that of previous week.

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Chart-2: Raw Cashew Nut (RCN) - Average Price INR per 80 kg bag

RCN price across Andhra traded at a region of INR 13400 per 80 kg bag as very few stocks left with

traders. In other states RCN prices were seen in the region of INR 150 and 164 per kg during the week.

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Almond Price Chart

Almond Kernel California price during last week traded in the region of INR 610 and INR 615 per as

compared with the previous week range of INR 620 and 625 per kg. Cashew W320 traded at Delhi, in

the region of INR 810 and 820 per kg. Price of Walnut kernel settled in the region of INR 500 and 900

per kg. Price of Pistachio Irani remains unchanged in the region of INR 1100 and 1200 per kg.

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Prices of Nuts in India and International Market

Table 1: Kernel FOB prices in major ports as on 12/08/17

Grades Tuticorin

(USD/lb fob)

Kollam

(USD/lb fob)

Vietnam

(USD / lb fob)

W240 5.00-5.20 5.10 4.85-5.00

W320 4.85-5.00 4.75 4.65-4.80

W450 4.70-4.90 - 4.50-4.55

SW320 4.70-4.80 - -

SW360 4.50-4.65 - -

SSW 4.20-4.30 - -

LP/LWP 3.75-3.90 3.85 3.60-3.80

WS 4.55-4.65 - 4.45-4.55

Table 2: Cashew Kernel: India spot prices in production centres as on 12/08/17 in INR/kg

Grades Mangalore

(Karnataka - 10Kg)

Kollam

(Kerala)

Vetapalam

(A.P)

Panruti

(TN)

Ganjam-

Odisha

Jeypore-

Odisha

W180 10500 904 - - - -

W210 9500 838 840 895 900-950 870

W240 8850 794 810 840 830 840

W320 8100 767 770 735 770 800

W400 7700 - 725 - - 760

W450 - 728 - - 740 -

W1 7900 - - - - -

S180 9750 - - - -

S210 9200 - - - - 830

S240 8650 - - - - 810

S 7500 719 - - - -

LWP 6800 670 700 640 670 695

SWP 6500 573 640 548 640 570

K 7100 - - 700 - 730

JH 7750 - 695 710 700 750

SSW 7450 - - - - -

BB 5250 679 480 430 450 -

JK/JB 7250 - - - - 700

SW 7600 - - - - -

SW320 - - - - - 770

Prices of Nuts in Other Indian Markets

TABLE 3: Cashew kernel: India spot prices at terminal markets as on 12/09/17 in INR/kg

Grades Delhi Sangrur

(Punjab)

Jalandhar

(Punjab)

Kolhapur

(Maharastra) Mumbai

W180 1075/1085 1030/1040 910/920 1040 1050

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CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER

Note: Prices marked in RED colour are of last week price. Currency Movement Table-4: Forex rates in USD

Indian rupee may trade sideways, US Fed meeting eyed

Indian rupee last week settled nearly

unchanged. The RBI as widely expected has

kept the interest rate intact, citing upward

inflationary pressures and retains the GDP

growth forecast for FY 2017-18 at 6.7%. The

US non-farm pay rolls for the month of

November came in at 228,000. The US Fed is

expected to hike the interest rates by 25 bps

during this week’s meeting.

Indian rupee last week traded in the region of

64.21 and 64.60 and finally settled the week almost unchanged at 64.45 against the dollar on

Dec-08-2017. Resistance is seen in the region of 64.82 and then at 65.10. Support is seen in the

W210 975/985 970/980 870/880 930 950

W240 910/915 930/940 780/790 880 900

W320 810/820 900/910 820/830 810 830

W400 - - - - 760

S 660/765 780/800 - 760 780

LWP 635/750 730/740 - 720 730

SWP 535/660 650/660 - 640 650

Currency 12/01/2017 12/08/2017 Wk-on-Wk

% Change

Indian Rupee (INR)RBI ref rate 64.43 64.46 0.05

Euro (EUR) 1.19 1.18 -0.84

Japanese Yen (JPY) 112.53 113.48 0.84

Brazilian Real (BRL) 3.27 3.29 0.61

Chinese Yuan (CNY) 6.61 6.62 0.15

Singapore Dollar (SGD) 1.34 1.35 0.75

Tanzanian Shilling (TZS) 2,246.40 2241.10 -0.24

Thai Baht (THB) 32.64 32.62 -0.06

Mozambique New Metical (MZN) 60.65 60.13 -0.86

Vietnam Dong (VND) 22,710.37 22710.50 -0.04

Indonesian Rupiah (IDR) 13,548.00 13545.00 -0.02

Benin CFA Franc BCEAO (XOF) 552.00 568.00 2.90

Ghanaian New Cedi (GHS) 4.54 4.50 -0.88

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region of 64.13 and then at 64.00-63.80. Overall rupee may trade in the broader region of 63.80

and 65.10 levels in the coming one to two weeks time period.

Delay in passage of pension bill, outcome of US FED meet to signal further cues on Brazilian

real

Brazil real dropped further as investors

concerned about the lack of consensus among

law makers in passing of key pension bill, as the

government last week put off the decision to

vote on the bill. Now all eyes were on US Fed

reserve meeting during this week and on the

outcome of sweeping tax reforms bill in the US,

which is expected to be known on or before Dec-

22-2017.

Brazil real last week was traded in the region of

3.2199 and 3.3179 and finally settled at 3.2918

as on Dec-08-2017. Resistance is seen in the

region of 3.32 and 3.35 levels in the near future. Near term support is seen in the region of 3.24

and 3.20.

Vietnamese dong may trade in the recent range

Vietnam dong last week traded in the region of 22,737.5 and 22709.5 and finally settled the week

at 22,710.5 against the dollar on Dec-08-2017. Dong may test the Jan-2017 lower support of

close to 22600-22500 against the dollar going forward. Upside for the time being is capped in the

region of 22750 and 22800 and unlikely to stay higher, but the current volatility is likely to stay

for a while.

Comparative Movement of Currencies in 2017 (Jan-Dec)

Vis-à-vis USD in cashew processing regions (Weeks starts from January’ 2017 and value indexed

to 100)

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Table 5: Other Tree nut and Dry Fruits Prices at the Delhi Market (INR/Kg)

Grades 12/02/17 12/09/17

Almond Giridi in shell 125/127.25 125/127.25

Almond Gurbandhi (in-shell) 300 300

Almond California in shell 430/433 425/428

Almond Kernel California 620/625 610/615

Almond Kernel Gurbandi 700/800 700/800

Pistachio Irani 1100/1200 1100/1200

Pistachio Hairati 1475 1475

Pistachio Peshawari 1560/1600 1560/1600

Walnut New 230/320 230/320

Walnut Kernel 500/900 500/900

Fig Common 625/675 625/675

Fig Medium 850/875 850/875

Fig Best 950/1000 950/1000

Apricot 250/500 250/500

Kishmish (Rs per kg )

Indian Yellow 85/100 85/100

Indian Green 150/250 150/250

Kandhari New 200/500 200/500

Ranga 220/225 220/225

Dry Dates (Rs per quintal)

Red 3500/12500 3500/12500

Rangkat 4500/12500 4500/12500

Vietnam Cashew EXIM data November-2017

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US Cashew Import Data-October-2017

US Destination wise Cashew Imports during October -2017

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News Highlights Boost for exports as Indian Government announces more incentives

The government Tuesday announced additional incentives totalling Rs 8,450 crores to help boost

exports in its mid-term review of the Foreign Trade Policy 2015-2020, which included simplified

processes to help exporters and a commitment to roll out an e-wallet scheme to ease working

capital issues for exporters in the post-GST regime. It raised the incentive rate by 2 per cent

under the most popular Merchandise Exports from India Scheme (MEIS) and Services Exports

from India Scheme (SEIS).

Continue reading…

Kerala: Cashew sector sees ray of hope in new board

The cashew industry has placed its hopes in the newly constituted Cashew Board to end the

speculative trade in domestic market. The government has announced that various nationalised

and state cooperative banks were willingness to sanction Rs 200 crores as operational capital for

the board. The requirements of the cashew board were in-principle approved by these banks to

provide a working capital.

Continue reading…

India seals cooperation with Nigeria to enhance agricultural trade

The Association of Chambers of Commerce India (ASSOCHAM), and the Nigeria Association

Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), have signed a

memorandum of Understanding (MoU), to boost agriculture and agro-allied trade between the

two countries.

Continue reading…

VN wants Cambodia to grow cashew

The Việt Nam Cashew Association has provided VNĐ1.5 billion (US$66,000) to the Cambodian

Ministry of Agriculture, Forestry and Fisheries for growing one million cashew trees on a total

area of 500,000 hectares from now through 2022. “Cambodia is one of the countries in the world

that have excellent natural conditions for growing cashew,” Nguyễn Đức Thanh, chairman of

VINACAS, told a conference held on Thursday to discuss import and export of cashew through

next year.

Continue reading…

CBN, NEXIM vote N550b to stimulate export

The Central Bank of Nigeria (CBN) and Nigeria Export-Import Bank (NEXIM Bank) are making

N550 billion available for lending to non-oil exporters. The loan will come at nine per cent

interest rate and is expected to help the investors export more commodities, earn more foreign

exchange from export proceeds and strengthen the economy.

Continue reading…

http://www.cashewinfo.com/news/news.asp?fn=DtCashew120617&cmid=

http://www.cashewinfo.com/news/news.asp?cmid=&fn=DtCashew121117

http://www.cashewinfo.com/news/news.asp?cmid=&fn=DtCashew2_120717



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Cashew nut joint venture to invest USD100 million on processing plants

Malaysian owned Camcashew Company and South Korean Naroo Marine Company is to invest

$100 million on a processing plant for cashew nuts, a plantation, warehouses and related

facilities in Kampong Cham province to export processed cashew nuts to South Korea.

Continue reading…

Almond Board of California envisions farm of the future with $4.8m investment into research

The Almond Board of California (ABC) has announced an investment of US$4.8 million in 64

independent, third-party research projects exploring next-generation farming practices.

Additionally, ABC released the first annual Almond Sustainability Publication, entitled Growing

Good, which highlights the California Almond community’s commitment to sustainability.

Continue reading…

EPA proposal would reduce copper use in walnut by 25 percent

Walnut growers, especially organic producers, have until Dec. 22 to comment on a federal

proposal to limit copper applications on the tree nut crop by 25 percent. The recently extended

comment period gives growers extra time to submit comments about the effects of an

Environmental Protection Agency (EPA) proposal that would require growers to reduce annual

copper applications from 32 pounds per acre to 24 pounds per acre.

Continue reading…

http://www.cashewinfo.com/news/news.asp?fn=DtCashew120717&cmid=



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Are you planning to invest in new processing factory or modernize existing cashew processing

factory in India?

Cashew cultivation is expanding into new areas in India. Cashew processing too is being taken up

in non-traditional areas. Entrepreneurs face several questions when starting a new project, such

as, which technology to choose, what should be the scale, should we choose manual vs. semi-

automatic vs. fully automatic processing lines and where to set up the plant, what is the demand

in my region and what is the forecast and what are the risks in investing and so on.

The consulting arm of Cashewinfo.com would be happy to assist businesses in conducting

Techno-Economic Feasibility studies for either establishing a new factory or modernizing an

existing factory. Let us know your requirements, we would provide you with best advice. It is wise

to talk to us before investing your money.

Please write to [email protected] or talk to Swapna at +91 93428 40609

Event Names Date of Event City /

Country

World Cashew Convention 1st-3rd

February 2018 MACAU

Gulfood 18th- 22nd

February 2018

Dubai World

Trade Centre

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Disclaimer: The data and information presented in this report are based on efforts of analysts at Foretell Business Solutions Private

Limited, Bangalore and opinions and data obtained from experts and various industry sources. While sufficient care has been taken to

check data and information prior to publishing, Foretell or its employees or external contributors will not be responsible for any kind of

errors or omissions or misrepresentation of data or for losses incurred by any party either directly or indirectly based on the information

published herein.

Caution to Readers

Although paid advertisements appear in this publication (in print, online, or in other electronic formats), Foretell Business

Solutions Private Limited (the owner of cashewinfo.com) does not endorse the advertised product, service, or company, or

any of the claims made by the advertisement. Readers are encouraged to do the necessary due diligence. However, in the

interest of the industry, please share your concerns, if any, by writing to us at [email protected]

S W WK S W WK - cashewinfo.com · Kernel price for 2)rious grades continued to remain soft and may...

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