We thank all the delegates, sponsors, supporting bodies and …€¦ · The average export price in...
Transcript of We thank all the delegates, sponsors, supporting bodies and …€¦ · The average export price in...
We thank all the delegates, sponsors, supporting bodies
and exhibitors in making WCC 2015 a global platform
Successfully
5-6 Feb 2015, Atlantis
We thank all the delegates, sponsors, supporting bodies
and exhibitors in making WCC 2015 a global platform
Successfully concluded on
6 Feb 2015, Atlantis- The Palm,
Dubai
We thank all the delegates, sponsors, supporting bodies
and exhibitors in making WCC 2015 a global platform
VOLUME
16 ISSUE
07 08-14 Feb, 2015
In the Cashew Week...
Cashew Market Commentaries from Experts
Indian Cashew Market Commentaries
Indian CNSL Market Commentaries
Cashewinfo Exlucive: Indian Cashew Exim Trade
January 2015
International Cashew Market Commentaries
Face to Face at World Cashew Convention 2015
Currency Movements
Forex Rates
Currency Outlook
USD v/s INR Movement
USD v/s BRL Movement
USD v/s VND Movement
Prices of Nuts
Domestic Prices of Nuts
International Prices of Nuts
Newshilights
Upcoming Trade Events
Indian Trade Events
International Trade Events
In the Cashew Week...
Cashew Market Commentaries from Experts
Indian Cashew Market Commentaries
Indian CNSL Market Commentaries
Cashewinfo Exlucive: Indian Cashew Exim Trade-
International Cashew Market Commentaries
World Cashew Convention 2015
2
VOLUME
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07 08-14 Feb, 2015
Fig 1: Cashew Kernel- W320- Average FOB prices at Tuticorin port, India (USD/lb)
During the week, W320 grade traded in the range between USD 3.3
Fig 2: Raw Cashew Nut (RCN) - Average Price INR
Ex- Vetapalem (Andhra Pradesh, India)
During the week, Indian RCNprice increased to INR 8800
Average FOB prices at Tuticorin port, India (USD/lb)
the range between USD 3.30 and 3.50 at Tuticorin.
Average Price INR per 80 kg bag
increased to INR 8800 per 80 Kg bag at Vetapalem (AP).
3
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Cashew Market Commentaries from Experts
Indian Cashew Market
There is not much "movement" in international prices
as probably most customers are on "wait and watch"
mode. Developments on the production side are not
transmitted to consumption side till very late.
Brazil: We have no news of the production trend of
2014 crop. It was last noted that manufacturing in
Brazil is not as strong as Vietnam and India. Overall
Brazilian and South American consumption has also
gone up. Macroeconomic issues influence Brazilian
decisions. Brazil needs to expand RCN production
India: Crop is perceived as "late". There is demand for
Raw Cashew Nut and the prevailing prices to producers
are in the 90s. Expectations are crop will commence in
March and will take into account factors in Indian crop
as weeks progress. Please be prepared for April fool’s
day which is also the beginning of Indian fiscal year.
Macroeconomic issues and foreign trade policy when
announced could have an influence.
Overall India is an enigma wrapped in mystery as far as
cashew is concerned. One never knows what's
happening. A guided tour of Indian cashew could get
popular!
Indian domestic kernel prices are warming up primarily
hit by a red ball of high import costs and factories
running out of material for the first time in last seven
years.
Vietnam: Vietnam domestic crop and prices will be the
pivotal once started and reaching factories the supply
side will be positive flow to markets which Vietnam
serves.
West Africa: Will be the Cashew Basket of the world.
Cashews from the White Continent it's no longer
backward!
Logistics, trading practices bordering on medieval and
the gold frontier for cashew traders all provide a heady
mix. Initial trades have been high and at reasonable
prices. African cashew economy will get vitamin doses
for growing for next two decades. For now, it will be
expansionary prices.
US: will continue to dominate world buying
Cashew Market Commentaries from Experts
Indian Cashew Market Commentaries
There is not much "movement" in international prices
customers are on "wait and watch"
mode. Developments on the production side are not
transmitted to consumption side till very late.
Brazil: We have no news of the production trend of
2014 crop. It was last noted that manufacturing in
ng as Vietnam and India. Overall
Brazilian and South American consumption has also
gone up. Macroeconomic issues influence Brazilian
decisions. Brazil needs to expand RCN production
India: Crop is perceived as "late". There is demand for
the prevailing prices to producers
are in the 90s. Expectations are crop will commence in
factors in Indian crop
s progress. Please be prepared for April fool’s
day which is also the beginning of Indian fiscal year.
Macroeconomic issues and foreign trade policy when
Overall India is an enigma wrapped in mystery as far as
cashew is concerned. One never knows what's
happening. A guided tour of Indian cashew could get
domestic kernel prices are warming up primarily
hit by a red ball of high import costs and factories
running out of material for the first time in last seven
Vietnam: Vietnam domestic crop and prices will be the
tories the supply
side will be positive flow to markets which Vietnam
West Africa: Will be the Cashew Basket of the world.
Cashews from the White Continent it's no longer
Logistics, trading practices bordering on medieval and
ntier for cashew traders all provide a heady
mix. Initial trades have been high and at reasonable
prices. African cashew economy will get vitamin doses
for growing for next two decades. For now, it will be
world buying
Europe: will continue to steadily contribute to
consumption at its own pace.
Suggestion: Europe and USA should lead cashew kernel
shelf price increases for 2016 and pay the price cashew
deserves for the 2015 crop. Question is who will do the
math and take a lead.
Japan and OECD: Will continue to maintain base.
Other countries: will continue expansionary
consumption which will eat into the shares of OECD.
East Africa: Needs to be mentioned as the logistics
tangle in Mtwara and the residual Dar
find its way to production.
Overall for cashew it will be a hot and sweaty season
ahead and every day will be an interesting day.
Cost pushes will aggravate and demand pulls at higher
prices could give resistance. Welcome to the tug of
war. Buyers will prevail over sellers?
Fragmented markets will make for fragmented thinking
and proceedings of the Dubai Convention w
chewed at the Mangalore C
carried to Golden Vietnam and all over again to INC.
Seminars, conferences, conventions and workshops will
generate the action plans for cashew economies
ahead.
Expect broken market to be more active and buoyant
than wholes so whole new paradigms will emerge
without anyone knowing, seeing or doing!
Cashew is God’s Own Seed.
So play on into his Divine Hands.
Source: Mr. GiridharPrabhu, Achal Cashews, Mangalore
4
Cashew Market Commentaries from Experts
Europe: will continue to steadily contribute to
consumption at its own pace.
Suggestion: Europe and USA should lead cashew kernel
shelf price increases for 2016 and pay the price cashew
deserves for the 2015 crop. Question is who will do the
Japan and OECD: Will continue to maintain base.
Other countries: will continue expansionary
consumption which will eat into the shares of OECD.
East Africa: Needs to be mentioned as the logistics
tangle in Mtwara and the residual Dar E Salaam could
Overall for cashew it will be a hot and sweaty season
ahead and every day will be an interesting day.
Cost pushes will aggravate and demand pulls at higher
prices could give resistance. Welcome to the tug of
Buyers will prevail over sellers?
Fragmented markets will make for fragmented thinking
and proceedings of the Dubai Convention will be
chewed at the Mangalore Convention and then will be
carried to Golden Vietnam and all over again to INC.
conventions and workshops will
generate the action plans for cashew economies
market to be more active and buoyant
than wholes so whole new paradigms will emerge
seeing or doing!
s Own Seed.
So play on into his Divine Hands.
Source: Mr. GiridharPrabhu, Achal Cashews, Mangalore
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Thanks to Cashew Info.com for organizing a grand
success event like the World Cashew Convention 2015
at Atlantisthe Palm, Dubai on last 5th & 6th Feb. 2015.
Where it brought all the stake holders of Cashew Value
Chain to a single platform like WCC to discuss
address the various problems and create awareness
among all the stake holders and also for the future
growth of the Cashew Industry.
Regarding the market position of Cashew Industry in
this eastern part of India, some cashew factories
started closing their industries due to want of Raw
Cashew Nuts. The available Tanzanian c
origin available is being offered at 1550 USD per MT
CNF Tuticorin on High Sea Sale., which is too high
not matching with Kernel sale price, for the small
processors. Hence it seems towards the end of March
almost all the Industries will be closed in this region
except very few.
Till today the new crop flowering seems to be good
and satisfactory with expecting a good har
flowering stage which will boost the flowers to sustain
and produce good crop but. But it is also reported in
some areas instead of a shower there was fall of
cubes which may affect the crop to some
However it is now too early to come to
for any crop size but looking to the present flowering
condition, overall in the entire region till now the crop
condition is satisfactory. Another important point is
that this year the crop will reach market little lately.
Looking to the present crop situation the c
reach the Mandis/Market towards middle of April or
end of April.
The kernel market is strong and stable with good
demand. More specifically the broken
gone up in comparison to Wholes and also with more
demand.
com for organizing a grand
hew Convention 2015
on last 5th & 6th Feb. 2015.
Where it brought all the stake holders of Cashew Value
to discuss and
create awareness
also for the future
market position of Cashew Industry in
this eastern part of India, some cashew factories
started closing their industries due to want of Raw
n crop, the only
1550 USD per MT
in on High Sea Sale., which is too high and
rice, for the small
ms towards the end of March
most all the Industries will be closed in this region
eems to be good
satisfactory with expecting a good harvest, at this
flowering stage which will boost the flowers to sustain
produce good crop but. But it is also reported in
ower there was fall of ice
the crop to some extent.
to any conclusion
esent flowering
all in the entire region till now the crop
condition is satisfactory. Another important point is
s year the crop will reach market little lately.
the present crop situation the crop will
reach the Mandis/Market towards middle of April or
stable with good
brokengrades have
gone up in comparison to Wholes and also with more
Table 1: Cashew Kernel prices i
as on 02/14/2015
Grades Jeypore
W240 580-585
W320 540-545
W450 510-515
JH 520-525
K 465-475
Source: Mr. RajendraSabat, Sabat Associates, Odisha
Mr. Biju P. M/s Agro Trade international, Kollam
Table 2: Cashew Kernel prices in USD per lb
as on 02/14/2015
Grades
W180
W210
W240
W320
W450
SW240
SW320
Splits
LWP
LSP
Packaging: 1x50 lbsTin/Vaccum, Shipment: Prompt
5
: Cashew Kernel prices in Odisha (INR per kg)
Coastal Odisha / Palasa
535-540
490-495
465-470
490-495
450-460
Source: Mr. RajendraSabat, Sabat Associates, Odisha
Mr. Biju P. M/s Agro Trade international, Kollam
ashew Kernel prices in USD per lb fob in Kollam
02/14/2015
4.50
4.25
3.75
3.50
3.40
3.45
3.40
3.30
3.25
3.15
Packaging: 1x50 lbsTin/Vaccum, Shipment: Prompt
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07 08-14 Feb, 2015
Indian CNSL Market Commentaries
Mangalore
The CNSL price remained same at INR 25.00
The prices of Cardanol came down to INR 50
Source: Mr. Venkatesh, Kanco Southwest Enterprises, Mangalore, Karnataka
Tamil Nadu
There is no much activity in the CNSL marke
about INR 8.90 per kilo. Cake is around INR
Source: Mr. Omprakash N. Phadnis, Phadnis
Indian CNSL Market Commentaries
5.00 per kg in Ex-Mangalore.
ardanol came down to INR 50.00 as compared to last week price at INR 51.00 per kg in Ex
Venkatesh, Kanco Southwest Enterprises, Mangalore, Karnataka
much activity in the CNSL market. The CNSL is steady at INR 26 per kilo on credit basis
about INR 8.90 per kilo. Cake is around INR 6 per kilo, with very less movement.
Source: Mr. Omprakash N. Phadnis, Phadnis Cashews, Panruti,Tamil Nadu
6
per kg in Ex-Mangalore
per kilo on credit basis and cashew shells are
ADVERTISE IN PROCEEDINGS OF WCC 2015
Dear Delegate,
It’s been our tradition in collating and disseminating information to the industry since 1998. WCC 2015 is
offering one such excellent opportunity to collate, publish and circulate key points & findings from the
panel discussions and presentations on cashew industry.
CashewInfo.com will be releasing a printed version of WCC 2015 Proceedings with all
presentations, key points discussed in panel discussions, photos, etc.
Advertise in WCC 2015 Proceedings
Advt Position Tariff for WCC participants Regular Tariff
Front opening fold USD 1000 USD 1800
Book Mark USD 1000 USD 1800
Center Spread USD 900 USD 1600
Back Cover USD 600 USD 1100
Front Inner USD 500 USD 900
Back Inner USD 500 USD 900
Any Inner Page USD 200 USD 400
Why Advertise:
- The copies will be circulated to all the participants, key industry members.
- Digital copy will be made available throughout the year on www.cashewconvention.com and
www.cashewinfo.com.
- Digital version will be sent to around 10000 email ids.
- CashewInfo.com will circulate copies in all conferences around the world, throughout the year.
- Cost effective way of advertising and reaching out to your target audience.
The printed version will be released within 1-month from the convention dates. Last date to confirm your
advertisement is 20th Feb. Last date to provide advertisement material is 28
th Feb.
Look forward to your favorable response.
Warm regards,
Swapna Asst Vice President [email protected], +91 9342840609
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Indian Cashew Exim Trade
Import of cashew into India during January 2015
During January 2015, India imported 27 thousand tonnes of RCN worth of 38.24 million USD. As compared to
December 2014, RCN imports decreased by
Table 3: Country-wise import of RCN into India during January 2015
Country of origin Volume (tonnes)
Tanzania 23086.71
Indonesia 1561.77
Cote D Ivoire 940.47
Madagascar 531.16
Ghana 130.03
Nigeria 101.09
Benin 86.89
Gambia 75.27
Bangladesh 49.31
Grand Total 26562.69
India imported major quantity (87%) of RCN from Tanzania followed by Indonesia (6%) and Ivory
the month, average unit price of imported RCN were high for the origin Indonesia (USD 1.49 per kg) followed by
Tanzania (1.47 USD/kg) and Ivory coast (1.13 USD/kg). Overall, the average unit value of imported RCN observed
during January 2015 was USD 1.10 per kg.
Overall, in the first ten months of the financial year India imported 863 thousand tonnes of RCN worth of 926 million
USD.
Fig 3: Per cent share of countries in total RCN imports into India during
Tanzania
Indonesia
6%
Cote D Ivoire
3%
Madagascar
2%
ndian Cashew Exim Trade- January 2015
January 2015
During January 2015, India imported 27 thousand tonnes of RCN worth of 38.24 million USD. As compared to
December 2014, RCN imports decreased by 61.45 per cent in volume and 69.05 per cent increase in value.
f RCN into India during January 2015
Volume (tonnes) Value (USD million)
23086.71 33.89
1561.77 2.33
940.47 1.07
531.16 0.54
130.03 0.09
101.09 0.10
0.09
0.08
0.04
26562.69 38.24
India imported major quantity (87%) of RCN from Tanzania followed by Indonesia (6%) and Ivory
the month, average unit price of imported RCN were high for the origin Indonesia (USD 1.49 per kg) followed by
coast (1.13 USD/kg). Overall, the average unit value of imported RCN observed
was USD 1.10 per kg.
Overall, in the first ten months of the financial year India imported 863 thousand tonnes of RCN worth of 926 million
: Per cent share of countries in total RCN imports into India during January 2015
Tanzania
87%
Madagascar
Others
2%
7
January 2015
During January 2015, India imported 27 thousand tonnes of RCN worth of 38.24 million USD. As compared to
per cent in volume and 69.05 per cent increase in value.
Value (USD million)
India imported major quantity (87%) of RCN from Tanzania followed by Indonesia (6%) and Ivory Coast (3%). During
the month, average unit price of imported RCN were high for the origin Indonesia (USD 1.49 per kg) followed by
coast (1.13 USD/kg). Overall, the average unit value of imported RCN observed
Overall, in the first ten months of the financial year India imported 863 thousand tonnes of RCN worth of 926 million
VOLUME
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07 08-14 Feb, 2015
Table 4: Port-wise import of RCN into India during January 2015
Indian Port Volume (tonnes)
Tuticorin Sea 12137.69
Cochin Sea 7725.27
Mangalore Sea 5255.27
Kolkata Sea 788.55
Vizag 328.29
Mundra Sea 136.20
Nagpur Icd 101.42
Jnpt 90.00
Grand Total 26562.69
Exports of Cashew from India during January 2015
In January 2015, India exported 12.30 thousand tonnes of kernels worth of 80.32 million USD. USA, UAE, Germany,
Netherlands, Saudi Arabia etc remained as the major export destinations for Indian cashew kernels during the
month.
As compared to December 2014, the expo
January 2015.
The average export price in January 2015 stood at USD 3.25 per lb fob for wholes, USD 2.99 per lb fob for brokens.
Table 5: Destination-wise exports of kernels
Destination Country Volume (tonnes)
USA 3520.68
UAE 3239.45
Germany 1160.29
Netherlands 776.78
Saudi Arabia 730.00
Japan 383.06
UK 305.55
Belgium 260.02
South Korea 251.86
Spain 158.76
France 149.69
Singapore 133.21
Italy 120.61
Canada 112.27
Kuwait 103.88
Iran 97.00
Turkey 77.63
Qatar 75.00
Greece 67.50
N.A. 63.50
Bahrain 47.94
Trinidad And Tobago 47.63
Oman 45.88
Israel 45.88
Egypt 45.00
Jordan 43.20
Algeria 30.00
Others 204.15
Grand Total 12296.39
into India during January 2015
Volume (tonnes) Value (USD million)
12137.69 17.57
7725.27 11.14
5255.27 7.77
0.83
0.50
0.14
0.16
0.13
26562.69 38.24
from India during January 2015
2015, India exported 12.30 thousand tonnes of kernels worth of 80.32 million USD. USA, UAE, Germany,
Netherlands, Saudi Arabia etc remained as the major export destinations for Indian cashew kernels during the
As compared to December 2014, the export volume increased by 11.97 per cent where as value by 0.59 per cent in
The average export price in January 2015 stood at USD 3.25 per lb fob for wholes, USD 2.99 per lb fob for brokens.
wise exports of kernels from India during January 2015
Volume (tonnes) Value (USD million)
3520.68 18.67
3239.45 25.07
1160.29 3.63
776.78 5.80
730.00 5.43
383.06 2.97
305.55 2.31
260.02 1.93
251.86 1.96
158.76 1.20
149.69 1.04
133.21 1.05
120.61 0.86
112.27 0.80
103.88 0.79
97.00 0.77
77.63 0.53
75.00 0.57
67.50 0.52
63.50 0.45
47.94 0.35
47.63 0.35
45.88 0.36
45.88 0.37
45.00 0.39
43.20 0.38
30.00 0.20
204.15 1.57
12296.39 80.32
8
2015, India exported 12.30 thousand tonnes of kernels worth of 80.32 million USD. USA, UAE, Germany,
Netherlands, Saudi Arabia etc remained as the major export destinations for Indian cashew kernels during the
rt volume increased by 11.97 per cent where as value by 0.59 per cent in
The average export price in January 2015 stood at USD 3.25 per lb fob for wholes, USD 2.99 per lb fob for brokens.
Value (USD million)
VOLUME
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07 08-14 Feb, 2015
In the first ten months of financial year 2014
million USD.
Fig 4: Per cent share of major countries in total exports of kernels from India during
Table 6: Port-wise export of cashew kernels
Indian Port Volume (tonnes)
Cochin Sea 7840.96
Mangalore Sea 1806.80
Tuticorin Sea 1714.30
Vizag 484.78
Chennai Sea 134.31
Goa Sea 95.25
Ludhiana Icd 89.91
Mundra Sea 66.24
Jnpt 28.28
Rexual Road Sea 27.72
Others 7.83
Grand Total 12296.39
Germany
9%
Netherlands
6%
Saudi Arabia
6%
Japan
3%
UK
3%Others
18%
In the first ten months of financial year 2014-15, India exported 101 thousand tonnes of kernels worth of 726.71
: Per cent share of major countries in total exports of kernels from India during January 2015
wise export of cashew kernels from India during January 2015
Volume (tonnes) Value (USD million)
7840.96 46.22
1806.80 13.96
1714.30 13.00
484.78 3.66
134.31 1.03
95.25 0.86
89.91 0.65
66.24 0.49
28.28 0.22
27.72 0.17
0.05
12296.39 80.32
USA
29%
UAE
26%
Others
18%
9
tonnes of kernels worth of 726.71
January 2015
ue (USD million)
VOLUME
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07 08-14 Feb, 2015
International Cashew Market Commentaries
USA
Positive news on crops all round gives rise to hope for a
good year on cashews. If demand continues as last year
then the good crops will be needed and prices should
steady after some likely harvest pressure although some
of the crop numbers mentioned by official sources seem
unlikely. There will likely be strong competition between
processors in India and Vietnam for supplies as the year
progresses – the needs of India have long been seen but
Vietnamese buyers are now competing in most origins
mainly through traders.
Kernels buyers in many cases have taken cover which
would mean that the risk position is with processors who
may have the luxury of taking their time if the good crop
projections in India and Vietnam come to reality. If they
can do so then likely prices will test the bottom of the
range but for now at least with the crop still on the trees a
major decline in prices would be pre-emptive.
Source: Mr. Jim Fitzpatrick, Ingredient Sourcing Solutions,
Ireland
Vietnam
Market was quiet due to Tet holidays here as at the end
of this week, offices from state and private sections to be
closed for most important holidays of the year/ Lunar
New Year and is expected to restart again from Feb 24,
but it will probably depend on each packer. Trade really
occurred for packers whom need to move the stored
goods for Feb and early Mar shipment. W320 traded
around 3.30 to 3.35 USD per lb fob. Traders who have
stored goods, waiting for good prices have had to sell
goods for February shipment due to unfavorable
International Cashew Market Commentaries
Positive news on crops all round gives rise to hope for a
good year on cashews. If demand continues as last year
then the good crops will be needed and prices should
steady after some likely harvest pressure although some
fficial sources seem
unlikely. There will likely be strong competition between
processors in India and Vietnam for supplies as the year
the needs of India have long been seen but
Vietnamese buyers are now competing in most origins
Kernels buyers in many cases have taken cover which
would mean that the risk position is with processors who
may have the luxury of taking their time if the good crop
projections in India and Vietnam come to reality. If they
ely prices will test the bottom of the
range but for now at least with the crop still on the trees a
emptive.
Source: Mr. Jim Fitzpatrick, Ingredient Sourcing Solutions,
lidays here as at the end
of this week, offices from state and private sections to be
closed for most important holidays of the year/ Lunar
again from Feb 24,
but it will probably depend on each packer. Trade really
rred for packers whom need to move the stored
ar shipment. W320 traded
3.35 USD per lb fob. Traders who have
stored goods, waiting for good prices have had to sell
unfavorable market
trend. Most of processors are offering mainly for April
June shipments but buyers are not ready t
Development of crop is good and price of fresh nut comes
down a bit, around 27,000 to
of nut in the small quantity is seen
arrival will come to the market in
are hoping that price will surely go down more. With
current price offered by local nut traders, processors
cannot afford to buy and to them price should itself
more so that business can happen. Processors will wait till
price of fresh nut reach to reasonable level.
For the past two weeks, shipment of finished products
(salted and roasted cashews) to China was increasing and
these shipments can be considere
for this buying origin before the Tet holidays.
Source: Mr. Kim, Khiem Nguyen Co., Vietnam
Mali
The season will be effected in further week
ground situation is quiet and we expect better season of
production than last year. Concerning the price t
it will depend on price that will be authorized to Ivory Coast
that is neighbor country.The target of production in Ma
could be expected between 25
depend how all protagonist of the field
contracts for export could be negotiated by Members of
AMEC in end of February.
Source:Mr. TraoreAbdoulaye, Association Malienne des
Exportateurs de Cajou (AMEC), Mali
10
International Cashew Market Commentaries
trend. Most of processors are offering mainly for April to
June shipments but buyers are not ready to buy now.
good and price of fresh nut comes
to 28,500 VND per kilo. Arrival
quantity is seen in the market. Main
arrival will come to the market in two weeks. Processors
are hoping that price will surely go down more. With
current price offered by local nut traders, processors
afford to buy and to them price should itself adjust
happen. Processors will wait till
ut reach to reasonable level.
weeks, shipment of finished products
(salted and roasted cashews) to China was increasing and
these shipments can be considered as the last shipments
for this buying origin before the Tet holidays.
Mr. Kim, Khiem Nguyen Co., Vietnam
l be effected in further week. Generally the
situation is quiet and we expect better season of
oncerning the price to fix in bush
price that will be authorized to Ivory Coast
The target of production in Mali
ween 25000 to 40000MT.So it will
all protagonist of the field will process. The first
contracts for export could be negotiated by Members of
Source:Mr. TraoreAbdoulaye, Association Malienne des
C), Mali
VOLUME
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07 08-14 Feb, 2015
Face to Face at World Cashew Convention 2015
“By March 2015, over 10000 businesses would be operating in DMCC”
Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
This is a transcript of the exclusive interview with Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
taken on the occasion of World Cashew Convention 2015.
DMCC is the world’s largest free zone for SMEs. How has this milestone been achieved
in such a short time?
DMCC has won the award from the FDI as the best free zone for SMEs in the Middle
East and North Africa region. DMCC has also won the award for UAE. We feel there is
more to build on that. We feel the future is for start
months ago Google establishing an incubator service for start
attracting a lot of similar projects whether it is in agro or IT and other related businesses.
When we look at the conventions like World Cashew Convention which is
we take great pride in this opportunity. We look back at what made DMCC
infrastructure twelve years ago. All projects, at the time of planning were seen to be reaching out to
market that did not make sense to a lot of people. But today Dubai airport is full and crowded, that’s
related to the cargo, to passengers and the rest
World Central- Al Maktoum International Airport.
DMCC has also taken up that kind of attitude of ‘progressive mentality’ and we do our best. When we were
establishing DMCC there were talks about focusing on nuts, pistachio and cashews. But we decided to
cover gold and diamond first and then get into other sectors later. Agro
because I feel it is a necessity and is different from gold and diamonds. I like the success stories especially
ones where one can see progress.
What is the plan for future leverage on this success?
Don’t be complacent.
When we started we would have loved to have 20 per cent of this type of recognition and awareness. We
did not have it when we started. I believe that was due to the lack of awareness in the region, whether it is
from the media or the community. I believe wh
Dubai facilities, region facilities. As far as public is concerned, whether they are consumers or investors, I
think more awareness about the cashews and agro industry will go long way. I believe that in
key part to it. The spread of information is so much better now than what it was twelve years ago. Today
at World Cashew Convention 2015
“By March 2015, over 10000 businesses would be operating in DMCC”
Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
This is a transcript of the exclusive interview with Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
taken on the occasion of World Cashew Convention 2015.
DMCC is the world’s largest free zone for SMEs. How has this milestone been achieved
short time?
DMCC has won the award from the FDI as the best free zone for SMEs in the Middle
East and North Africa region. DMCC has also won the award for UAE. We feel there is
more to build on that. We feel the future is for start-ups and SMEs. We announ
months ago Google establishing an incubator service for start
attracting a lot of similar projects whether it is in agro or IT and other related businesses.
When we look at the conventions like World Cashew Convention which is first time and it is in Dubai. So,
we take great pride in this opportunity. We look back at what made DMCC
. All projects, at the time of planning were seen to be reaching out to
ke sense to a lot of people. But today Dubai airport is full and crowded, that’s
related to the cargo, to passengers and the rest of the facilities. Hence we have the second one
Al Maktoum International Airport.
p that kind of attitude of ‘progressive mentality’ and we do our best. When we were
establishing DMCC there were talks about focusing on nuts, pistachio and cashews. But we decided to
cover gold and diamond first and then get into other sectors later. Agro is one of my favorites personally
because I feel it is a necessity and is different from gold and diamonds. I like the success stories especially
What is the plan for future leverage on this success?
hen we started we would have loved to have 20 per cent of this type of recognition and awareness. We
did not have it when we started. I believe that was due to the lack of awareness in the region, whether it is
from the media or the community. I believe what we see today is awareness among the traders about
Dubai facilities, region facilities. As far as public is concerned, whether they are consumers or investors, I
think more awareness about the cashews and agro industry will go long way. I believe that in
key part to it. The spread of information is so much better now than what it was twelve years ago. Today
11
at World Cashew Convention 2015
“By March 2015, over 10000 businesses would be operating in DMCC”
Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
This is a transcript of the exclusive interview with Mr. Ahmed Bin Sulayem, Executive Chairman, DMCC
DMCC is the world’s largest free zone for SMEs. How has this milestone been achieved
DMCC has won the award from the FDI as the best free zone for SMEs in the Middle
East and North Africa region. DMCC has also won the award for UAE. We feel there is
ups and SMEs. We announced few
months ago Google establishing an incubator service for start-ups in DMCC. We are
attracting a lot of similar projects whether it is in agro or IT and other related businesses.
first time and it is in Dubai. So,
we take great pride in this opportunity. We look back at what made DMCC successful despite less
. All projects, at the time of planning were seen to be reaching out to
ke sense to a lot of people. But today Dubai airport is full and crowded, that’s
of the facilities. Hence we have the second one – Dubai
p that kind of attitude of ‘progressive mentality’ and we do our best. When we were
establishing DMCC there were talks about focusing on nuts, pistachio and cashews. But we decided to
is one of my favorites personally
because I feel it is a necessity and is different from gold and diamonds. I like the success stories especially
hen we started we would have loved to have 20 per cent of this type of recognition and awareness. We
did not have it when we started. I believe that was due to the lack of awareness in the region, whether it is
at we see today is awareness among the traders about
Dubai facilities, region facilities. As far as public is concerned, whether they are consumers or investors, I
think more awareness about the cashews and agro industry will go long way. I believe that information is
key part to it. The spread of information is so much better now than what it was twelve years ago. Today
VOLUME
16 ISSUE
07 08-14 Feb, 2015
the trend is changing so fast and it is user
engaging. Looking at the new trend, people are changing their food habits; cashews are becoming more of
person’s daily diets as people look at
do here.
What are the key challenges facing by DMCC?
The challenges vary from time to time
frustrating as we had just moved into DMCC
an environment. But we withstood t
the largest number of businesses and still registering companies at the rate of 160 to 200 companies a
month is promising to us. We feel that in the next month and
registered with DMCC.
I would say the biggest challenge was starting DMCC. Establishing and setting the decree in place, making
sure the decree reflects vision of His Highness and prioritizing what to focus on
trading- and finding the expertise and retaining them were challenging . I believe, as DMCC grows, its
influence on the industry and community too would grow.
Challenge would be growing too big. We need to always look and prioritize and focus where t
are required. At the same time it is not all about profit but it is about corporate responsibility. It is also
about adding value to the industry and to the region. I believe all that comes together in the end.
Agro-commodities and food has b
opportunity in serving cashew sector?
I would not be here if I didn’t.
We had great success in tea industry. We created the Dubai Tea Trading Centre (DTTC) and are currently
the largest re-exporter of tea in the world. With the efficient of civil aviation and connectivity and growing
shipping industry, tea business from Dubai is still set to grow further.
When comes to cashew sector, this is the first cashew event and you choose to have it in D
UAE are key links to emerging markets. Africa is a super power as well and will grow further. India is
important trading partner and Dubai has always linked to India. The ease of business here is unparallel to
anywhere else. Today, opportunities are made and the ideas will come out of this. While some of the
shipping companies are already in DMCC, I see many first timers to Dubai in this conference. I am sure,
they would find it useful to set up businesses here and grow it.
WCC 2015?
I am excited about the turnout. Over370 participants and that too only in cashew! I am sure more and
more people would not want to miss out on the excellent networking opportunities in future. Good luck.
the trend is changing so fast and it is user-friendly that every business is setting
engaging. Looking at the new trend, people are changing their food habits; cashews are becoming more of
person’s daily diets as people look at replacements for other types of proteins and foods. There is a lot to
g by DMCC?
from time to time. Global recession is one among that. Moreover, the timing
just moved into DMCC then. I really wanted to see how DMCC would
the recession. Commodities kept growing. The fact that we are having
the largest number of businesses and still registering companies at the rate of 160 to 200 companies a
month is promising to us. We feel that in the next month and so, there will be over 1
I would say the biggest challenge was starting DMCC. Establishing and setting the decree in place, making
sure the decree reflects vision of His Highness and prioritizing what to focus on -
and finding the expertise and retaining them were challenging . I believe, as DMCC grows, its
influence on the industry and community too would grow.
Challenge would be growing too big. We need to always look and prioritize and focus where t
are required. At the same time it is not all about profit but it is about corporate responsibility. It is also
about adding value to the industry and to the region. I believe all that comes together in the end.
commodities and food has been an important part of this journey. Do you see any specific
opportunity in serving cashew sector?
We had great success in tea industry. We created the Dubai Tea Trading Centre (DTTC) and are currently
rter of tea in the world. With the efficient of civil aviation and connectivity and growing
business from Dubai is still set to grow further.
When comes to cashew sector, this is the first cashew event and you choose to have it in D
UAE are key links to emerging markets. Africa is a super power as well and will grow further. India is
important trading partner and Dubai has always linked to India. The ease of business here is unparallel to
ities are made and the ideas will come out of this. While some of the
shipping companies are already in DMCC, I see many first timers to Dubai in this conference. I am sure,
they would find it useful to set up businesses here and grow it.
cited about the turnout. Over370 participants and that too only in cashew! I am sure more and
more people would not want to miss out on the excellent networking opportunities in future. Good luck.
12
friendly that every business is setting themselves upfast and
engaging. Looking at the new trend, people are changing their food habits; cashews are becoming more of
other types of proteins and foods. There is a lot to
. Moreover, the timing was little
DMCC would function in such
he recession. Commodities kept growing. The fact that we are having
the largest number of businesses and still registering companies at the rate of 160 to 200 companies a
will be over 10,000 businesses
I would say the biggest challenge was starting DMCC. Establishing and setting the decree in place, making
industrial, light industry or
and finding the expertise and retaining them were challenging . I believe, as DMCC grows, its
Challenge would be growing too big. We need to always look and prioritize and focus where the attentions
are required. At the same time it is not all about profit but it is about corporate responsibility. It is also
about adding value to the industry and to the region. I believe all that comes together in the end.
een an important part of this journey. Do you see any specific
We had great success in tea industry. We created the Dubai Tea Trading Centre (DTTC) and are currently
rter of tea in the world. With the efficient of civil aviation and connectivity and growing
When comes to cashew sector, this is the first cashew event and you choose to have it in Dubai. Dubai and
UAE are key links to emerging markets. Africa is a super power as well and will grow further. India is
important trading partner and Dubai has always linked to India. The ease of business here is unparallel to
ities are made and the ideas will come out of this. While some of the
shipping companies are already in DMCC, I see many first timers to Dubai in this conference. I am sure,
cited about the turnout. Over370 participants and that too only in cashew! I am sure more and
more people would not want to miss out on the excellent networking opportunities in future. Good luck.
Face to Face at World Cashew Convention 2015
Nigeria aspires to be number one producer of cashews in Africa
Mr. Segun Awolowo, CEO, NIGERIAN EXPORT PROMOTION COUNCIL
This is a transcript of the exclusive interview with Mr. Segun
of World Cashew Convention 2015.
Nigeria has historically had several challenges. Under your able leadership many of
these have been successfully addre
the outcomes so far?
Nigeria is currently
producing and exporting
which is a key strategy for us.
from Africa. With oil price crashing, we have been trying to diversify our export basket beyond crude oil.
We have identified 13 strategic export products to
How was the crop situation in 2014 and how you expecting in 2015
In 2014, the crop situation was good with
2015, we are expecting a raw cashew nut production
On the export of RCN from Nigeria, how would 2015 be different from the past? Would it fetch better
price for producers?
Yes, we are hoping to get higher prices now, because our
improving. We are really working on this
cashew production, Nigeria ranks 4th
around 120 million dollar. Farmers are now going to
because we are meeting those standards in farm production and we are about to increase the yield
going to be a very profitable year for cashews in 2015
On processing cashews within Nigeria, what are the plans? What in your opinion are the key constraints
and how you think these can be overcome?
The key constraints are electricity and
under the new transformation agenda
foreign exchange earner of Nigeria. S
shipment incentives. We want to start processing cashew
the possibilities of them coming into process cashews in Nigeria. As Nigeria is cashew producing country
at World Cashew Convention 2015
Nigeria aspires to be number one producer of cashews in Africa
Awolowo, CEO, NIGERIAN EXPORT PROMOTION COUNCIL
This is a transcript of the exclusive interview with Mr. Segun Awolowo, CEO, NEPC taken on the occasion
Nigeria has historically had several challenges. Under your able leadership many of
these have been successfully addressed. Share with us specific initiatives taken and
the outcomes so far?
Nigeria is currently undergoing an industrial revolution. We want to move
producing and exporting raw materials to exporting processed
which is a key strategy for us. Nigeria is the largest crude oil producer and exporter
from Africa. With oil price crashing, we have been trying to diversify our export basket beyond crude oil.
strategic export products to replace oil, of which cashew is one of them.
How was the crop situation in 2014 and how you expecting in 2015
4, the crop situation was good with 120+ thousand metric tonnes and the yield was 4
a raw cashew nut production of over 160 thousand metric tonnes.
On the export of RCN from Nigeria, how would 2015 be different from the past? Would it fetch better
higher prices now, because our yield is getting better and the standards are
on this with the farmers so they can have a better yield on cashew. th in Africa and 7th in the world. Last year we exported
armers are now going to be really pleased and happy with
because we are meeting those standards in farm production and we are about to increase the yield
going to be a very profitable year for cashews in 2015.
On processing cashews within Nigeria, what are the plans? What in your opinion are the key constraints
and how you think these can be overcome?
and transportation. The Government is working on addressing all
ansformation agenda. The most important is that we have identified cashew as a top
. So it is going to attract a lot of incentives i.e.
shipment incentives. We want to start processing cashew in Nigeria so we looking well to talk to investors
to process cashews in Nigeria. As Nigeria is cashew producing country
at World Cashew Convention 2015
Nigeria aspires to be number one producer of cashews in Africa
Awolowo, CEO, NIGERIAN EXPORT PROMOTION COUNCIL
Awolowo, CEO, NEPC taken on the occasion
Nigeria has historically had several challenges. Under your able leadership many of
ssed. Share with us specific initiatives taken and
e want to move away from
processed and finished goods,
Nigeria is the largest crude oil producer and exporter
from Africa. With oil price crashing, we have been trying to diversify our export basket beyond crude oil.
cashew is one of them.
metric tonnes and the yield was 400kg per ha. In
metric tonnes.
On the export of RCN from Nigeria, how would 2015 be different from the past? Would it fetch better
is getting better and the standards are
with the farmers so they can have a better yield on cashew. In
. Last year we exported cashews worth
be really pleased and happy with what we are doing
because we are meeting those standards in farm production and we are about to increase the yield. It is
On processing cashews within Nigeria, what are the plans? What in your opinion are the key constraints
is working on addressing all these
identified cashew as a top
lot of incentives i.e. pre-shipment and post-
Nigeria so we looking well to talk to investors
to process cashews in Nigeria. As Nigeria is cashew producing country, it
VOLUME
16 ISSUE
07 08-14 Feb, 2015
is very easy to set up a processing factory and to export.
for that.
What are the Government initiatives for cashew processing? Howis it supportable for cashew
processing?
We support by giving tax holiday for five years and also we
free. After export, we provide post
attractive package for prospective investors.
What are the future plans/ prospectus?
The future plan is to scale up production of cashews and we are working on that. This year we are going to
plan to scale up to 180 thousand metric tonnes. Overall goal is to be number one in Africa. Cashew is very
interesting because it is grown in almost all parts of Nigeria. We can g
36 states in Nigeria which is really huge. There is no reason that Nigeria shouldn’t be number one in
cashew producer in the world in the long run.
Finally, your comments on WCC2015
The venue is impressive. Turnout is
technology, buyer/seller meet - is very comprehensive and useful. Overall, the organizers have done an
excellent job. We are very happy.
factory and to export. We are going to provide all the initial incentives
What are the Government initiatives for cashew processing? Howis it supportable for cashew
for five years and also we support in export processing zone which is tax
free. After export, we provide post-shipment incentives which are export expansion grant. It is a very
attractive package for prospective investors.
What are the future plans/ prospectus?
production of cashews and we are working on that. This year we are going to
plan to scale up to 180 thousand metric tonnes. Overall goal is to be number one in Africa. Cashew is very
interesting because it is grown in almost all parts of Nigeria. We can grow cashew in about 15 states out of
36 states in Nigeria which is really huge. There is no reason that Nigeria shouldn’t be number one in
cashew producer in the world in the long run.
Finally, your comments on WCC2015
The venue is impressive. Turnout is good. The agenda- sessions on kernels, raw nuts, processing
is very comprehensive and useful. Overall, the organizers have done an
14
e are going to provide all the initial incentives
What are the Government initiatives for cashew processing? Howis it supportable for cashew
export processing zone which is tax
shipment incentives which are export expansion grant. It is a very
production of cashews and we are working on that. This year we are going to
plan to scale up to 180 thousand metric tonnes. Overall goal is to be number one in Africa. Cashew is very
row cashew in about 15 states out of
36 states in Nigeria which is really huge. There is no reason that Nigeria shouldn’t be number one in
sessions on kernels, raw nuts, processing
is very comprehensive and useful. Overall, the organizers have done an
VOLUME
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07 08-14 Feb, 2015
Face to Face at World Cashew Convention 2015
“Performance of edible nuts and cashew nuts is expected to be very positive”
Mr. Jim Fitzpatrick, Business development consultant and mentor,
This is a transcript of the exclusive interview with
Cashew Convention 2015.
What is the general outlook for demand in cashew sector?
It is positive; we have seen in the last couple of years
in the mature markets. Meantime, we can see rapidly growing consumption of
cashew nuts in India with markets such as China and Australia showing positive
trends. As we see it now, it
next ten years will be buying not selling cashew nuts. We see the balance of power
shifting towards the seller. The market will respond in time with additional supply but how quickly and how
effectively supply will respond remains to be seen. There are short term challenges, such as the strength of
the dollar against the Euro but generally the performance of edible nuts and cashew nuts is expected to be
very positive.
How the buyer’s requirements have changed?
Buyers in the past, always demanded good prices, good quality and contract fidelity
they have promised to do. This has become more and more formalized in recent years. The standards now
on food safety and quality management systems have changed. Meantime new needs have emerged in
particular the demand for traceability of the product which is a challenge in our industry, given so many
raw nuts are shipped from Africa to India and Vietnam for processing. In the US the FSMA
developing longer terms relationship and transparency is becoming more important. The days of buying
here and there from different people has gone. The future it is about long term relationships, it is about
how buyers and processors work toget
What are the prospects for processing in Africa?
The prospects are improving. We have seen in recent years, particularly if we look at the Ivory Coast where
we see the new approach like we see large scale supplies, we see better and b
environment, we see slightly better access to finance which is still a challenge but it seems to be moving in
a right direction. We cannot just speak about Africa; the challenges in some countries are much greater
than other country which is a five to ten year projects.
at World Cashew Convention 2015
“Performance of edible nuts and cashew nuts is expected to be very positive”
Mr. Jim Fitzpatrick, Business development consultant and mentor,
Ingredient Sourcing Solutions
This is a transcript of the exclusive interview with Mr. Jim Fitzpatrick taken on the occasion of World
What is the general outlook for demand in cashew sector?
we have seen in the last couple of years that demand is growing steadily
in the mature markets. Meantime, we can see rapidly growing consumption of
cashew nuts in India with markets such as China and Australia showing positive
trends. As we see it now, it is beginning to become clear that the real problem in the
next ten years will be buying not selling cashew nuts. We see the balance of power
shifting towards the seller. The market will respond in time with additional supply but how quickly and how
ively supply will respond remains to be seen. There are short term challenges, such as the strength of
the dollar against the Euro but generally the performance of edible nuts and cashew nuts is expected to be
ve changed?
Buyers in the past, always demanded good prices, good quality and contract fidelity
they have promised to do. This has become more and more formalized in recent years. The standards now
ment systems have changed. Meantime new needs have emerged in
particular the demand for traceability of the product which is a challenge in our industry, given so many
raw nuts are shipped from Africa to India and Vietnam for processing. In the US the FSMA
developing longer terms relationship and transparency is becoming more important. The days of buying
here and there from different people has gone. The future it is about long term relationships, it is about
how buyers and processors work together over many years.
What are the prospects for processing in Africa?
The prospects are improving. We have seen in recent years, particularly if we look at the Ivory Coast where
we see the new approach like we see large scale supplies, we see better and b
environment, we see slightly better access to finance which is still a challenge but it seems to be moving in
a right direction. We cannot just speak about Africa; the challenges in some countries are much greater
is a five to ten year projects.
15
at World Cashew Convention 2015
“Performance of edible nuts and cashew nuts is expected to be very positive”
Mr. Jim Fitzpatrick, Business development consultant and mentor,
taken on the occasion of World
What is the general outlook for demand in cashew sector?
that demand is growing steadily
in the mature markets. Meantime, we can see rapidly growing consumption of
cashew nuts in India with markets such as China and Australia showing positive
is beginning to become clear that the real problem in the
next ten years will be buying not selling cashew nuts. We see the balance of power
shifting towards the seller. The market will respond in time with additional supply but how quickly and how
ively supply will respond remains to be seen. There are short term challenges, such as the strength of
the dollar against the Euro but generally the performance of edible nuts and cashew nuts is expected to be
Buyers in the past, always demanded good prices, good quality and contract fidelity – i.e. suppliers do what
they have promised to do. This has become more and more formalized in recent years. The standards now
ment systems have changed. Meantime new needs have emerged in
particular the demand for traceability of the product which is a challenge in our industry, given so many
raw nuts are shipped from Africa to India and Vietnam for processing. In the US the FSMA means that
developing longer terms relationship and transparency is becoming more important. The days of buying
here and there from different people has gone. The future it is about long term relationships, it is about
The prospects are improving. We have seen in recent years, particularly if we look at the Ivory Coast where
we see the new approach like we see large scale supplies, we see better and better institution
environment, we see slightly better access to finance which is still a challenge but it seems to be moving in
a right direction. We cannot just speak about Africa; the challenges in some countries are much greater
VOLUME
16 ISSUE
07 08-14 Feb, 2015
What are the impacts of processing technologies?
There is huge impacts, we now see the process is much more manager with a better services, better
understanding of the process than never before. The days of employing few
a shed is gone. Food safety demands that and also technology. The right challenge for new processors is in
sourcing equipments and accessing technology management, it is most acute in Africa. If we look at India
and Vietnam there are also challenges, the manual processing operations is completely turned around and
It is becoming more and more highly mechanized and highly technological process which is a new
challenge. The challenge of shelling and cutting the cashew nuts are
manufacturing equipments at SIETTA 2014 event; for more I can say there is progress in that direction. This
is different by costs and cost of workers. There are no reasons to believe that the much of technology in
cashews will not continue. It is hard to say that fully mechanized process particularly at the smaller scale;
certainly we look up machines, particularly at investors seeing machines as the future for the cashew
business in India, Vietnam and elsewhere.
Feedback on WCC 2015
This is definitely the right venue, I am really impressed and I see people from many different countries, am happy to
see that. I have a feeling this to go from strength to strength.
What are the impacts of processing technologies?
There is huge impacts, we now see the process is much more manager with a better services, better
understanding of the process than never before. The days of employing few hundred people and setting up
a shed is gone. Food safety demands that and also technology. The right challenge for new processors is in
sourcing equipments and accessing technology management, it is most acute in Africa. If we look at India
here are also challenges, the manual processing operations is completely turned around and
is becoming more and more highly mechanized and highly technological process which is a new
. The challenge of shelling and cutting the cashew nuts are major one. We visited number of
manufacturing equipments at SIETTA 2014 event; for more I can say there is progress in that direction. This
is different by costs and cost of workers. There are no reasons to believe that the much of technology in
ill not continue. It is hard to say that fully mechanized process particularly at the smaller scale;
certainly we look up machines, particularly at investors seeing machines as the future for the cashew
business in India, Vietnam and elsewhere.
This is definitely the right venue, I am really impressed and I see people from many different countries, am happy to
see that. I have a feeling this to go from strength to strength.
16
There is huge impacts, we now see the process is much more manager with a better services, better
hundred people and setting up
a shed is gone. Food safety demands that and also technology. The right challenge for new processors is in
sourcing equipments and accessing technology management, it is most acute in Africa. If we look at India
here are also challenges, the manual processing operations is completely turned around and
is becoming more and more highly mechanized and highly technological process which is a new
major one. We visited number of
manufacturing equipments at SIETTA 2014 event; for more I can say there is progress in that direction. This
is different by costs and cost of workers. There are no reasons to believe that the much of technology in
ill not continue. It is hard to say that fully mechanized process particularly at the smaller scale;
certainly we look up machines, particularly at investors seeing machines as the future for the cashew
This is definitely the right venue, I am really impressed and I see people from many different countries, am happy to
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Currency Movement
Table7: Forex Rates (In USD)
Currency Outlook
USD vs INR Movement
Fig 5: USD/INR weekly chart
Indian rupee pared most of the recent gains and settled
lower during last week by 50 paise on corporate dollar
buying to clear their import bills ahead of union budget later
this month. Moreover strengthening of dollar index also
weakened the rupee. The foreign exchange reserves rose to
an all-time high of $327.88 billion for the week ending
January 30, 2015, as per RBI recent data. India’s CPI in
January rose to 5.11 percent based on the new base year,
but below the RBI targeted rate of 6 percent, which could
augur well for more rate cuts going forward.
Indian rupee last week traded in the region of 61.90 and
62.53 and finally settled the week weaker by 50 paise to
62.19 against the dollar.
Currency 02/06/2015
Indian Rupee (INR) 61.970
Euro (EUR) 0.884
Japanese Yen (JPY) 118.980
Brazilian Real (BRL) 2.783
Chinese Yuan (CNY) 6.244
Singapore Dollar (SGD) 1.353
Tanzanian Shilling (TZS) 1830.000
Thai Baht (THB) 32.650
Mozambique New Metical (MZN) 33.300
Vietnam Dong (VND) 21282.000
Indonesian Rupiah (IDR) 12614.500
Benin CFA Franc BCEAO (XOF) 581.920
Ghanaian New Cedi (GHS) 3.380
As long as 62.50 level is not violated
appreciate further going forward in the near term. Strong
support is seen in the region of 61.90 and 61.50
levels. Overall rupee is likely to stay in the broader region of
61.20and 62.50.
USD vs BLR Movement
Fig 6: USD/BLR weekly chart
Indian rupee pared most of the recent gains and settled
on corporate dollar
buying to clear their import bills ahead of union budget later
this month. Moreover strengthening of dollar index also
weakened the rupee. The foreign exchange reserves rose to
time high of $327.88 billion for the week ending
nuary 30, 2015, as per RBI recent data. India’s CPI in
January rose to 5.11 percent based on the new base year,
but below the RBI targeted rate of 6 percent, which could
augur well for more rate cuts going forward.
the region of 61.90 and
62.53 and finally settled the week weaker by 50 paise to
Brazilian real last week pared most of the gains and fell to
new 10-year low of 2.8826 against the dollar. Real
declined by about 6 percent s
about Brazil’s deteriorating economy. Last week data on
retail sales declined to its sharpest pace on record
December-2013. Real further move will depend on the
reforms to be announced by
address stalled economic growth and to contain
inflationary pressures.
Brazilian real last week traded in the region of 2.7640 and
2.8826 and settled weaker at 2.8346 and was highly
volatile. Real depreciated sharply in recent weeks may
signal some sort of appreciation in the near term. But
overall it may weaken further towards 2.90
going forward.
Alert: Brazil real depreciated further much beyond the
levels we had mentioned in the WCC
cashew week. Brazil economy continues to r
and may contract this year. This may result in further
depreciation of real going forward towards 2.95
02/06/2015 02/13/2015
62.076
0.878
118.750
2.835
6.240
1.355
1826.000
32.600
33.330
21330.000
12787.500
575.350
3.410
17
not violated, expect rupee to
appreciate further going forward in the near term. Strong
support is seen in the region of 61.90 and 61.50-61.20
levels. Overall rupee is likely to stay in the broader region of
Brazilian real last week pared most of the gains and fell to
year low of 2.8826 against the dollar. Real
declined by about 6 percent so far in the current month on
about Brazil’s deteriorating economy. Last week data on
retail sales declined to its sharpest pace on record since
2013. Real further move will depend on the
to be announced by the new government to
alled economic growth and to contain
Brazilian real last week traded in the region of 2.7640 and
2.8826 and settled weaker at 2.8346 and was highly
volatile. Real depreciated sharply in recent weeks may
reciation in the near term. But
overall it may weaken further towards 2.90-2.95 levels
Brazil real depreciated further much beyond the
levels we had mentioned in the WCC-2015 special issue of
cashew week. Brazil economy continues to remain weak
and may contract this year. This may result in further
depreciation of real going forward towards 2.95-3.00 level.
VOLUME
16 ISSUE
07 08-14 Feb, 2015
USD vs VND Movement
Fig 7: USD/VND weekly chart
Nguyen Ngoc Tuyen, director of the Institute of Economics
and Finance under the Ministry of Finance, said deflation
risks have emerged due to weak domestic demand.Retail
sales increased only 10.6 percent last year, compared to
over 20.9 percent in 2006 and 23.3 percent 200
to the General Statistics Office.
Last week Vietnam dong traded in the region of 21
21390 and finally settled at 21330. Technically Vietnam
Dong may continue to trade in a broad range of 21
21470 levels going forward.
Fig 8: Comparative Movement of Currencies in 2015 vis
USD in cashew processing regions (Weeks starts from January’
2015)
, director of the Institute of Economics
and Finance under the Ministry of Finance, said deflation
risks have emerged due to weak domestic demand.Retail
sales increased only 10.6 percent last year, compared to
over 20.9 percent in 2006 and 23.3 percent 2007, according
Last week Vietnam dong traded in the region of 21114 and
. Technically Vietnam
Dong may continue to trade in a broad range of 21100 and
arative Movement of Currencies in 2015 vis-à-vis
USD in cashew processing regions (Weeks starts from January’
18
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Prices of Nuts in India and International Markets
Table 8: Indian prices of cashew kernels
Cashew Grades 02/07/2015
Tuticorin (USD/lb fob)-export prices
W240 3.75 – 3.95
W320 3.30 – 3.50
W450 3.25 – 3.40
SW320 3.35 – 3.45
SW360 3.20 – 3.30
SSW 3.10 – 3.20
Butts 3.10 – 3.20
Splits 2.95 – 3.05
Large Pieces 2.85 – 2.95
Mangalore Karnataka (INR/ Kg)
W180 741
S180 758
W210 635
S210 573
W240 604
S240 547
W320 534
W1 516
SW 481
SSW 467
JH 494
S 481
LWP 450
SWP 406
K 481
JB 463
Kollam (INR/Kg)
W180 661
W210 617
W240 573
W320 529
W450 476
SW240 485
S (Splits) 485
SS 428
Butts 459
SB 406
SP 410
LWP 463
WSP 406
Delhi (INR/Kg)
W320 No. 555
W210 No. 655
W240 No. 640
W180 No. 765
2 pieces 470
4 pieces 463
8 pieces 390
Sangrur (INR/Kg)
W320 743
Prices of Nuts in India and International MarketsIndian Prices of Nuts
*Mangalore Prices are exclusive of tax. Tax for inter
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
02/14/2015
3.75 – 3.95
3.30 – 3.50
3.25 – 3.40
3.35 – 3.45
3.20 – 3.30
3.10 – 3.20
3.10 – 3.20
2.95 – 3.05
2.85 – 2.95
741
758
635
591
604
556
538
525
503
476
503
485
463
419
485
485
661
617
573
529
476
485
485
428
459
406
410
463
406
560
660
645
770
475
468
395
753
Cashew Grades 02/07
W210
W240
W180
2 pieces
4 pieces
8 pieces
Jeypore – Orissa (INR/Kg)
Local Raw Nuts
W210
W240
W320
W400
S240
S320
S
K
LWP
SWP
JH
Vetapalem – AP (INR/Kg)
W210
W240
W320
SW
JH
K/LWP
W1
JB/Butts
W400
Panruti – Tamil Nadu (INR/Kg)
Raw nut (Rs/kg)
W240
W320
W450
JH
JK
LWP
SWP
Jalandhar - Punjab (INR/Kg)
W320
W210
W240
W180
19
Prices of Nuts in India and International Markets
*Mangalore Prices are exclusive of tax. Tax for inter-state sales- CST 3 per cent, Tax
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
02/07/2015 02/14/2015
775 785
763 773
823 830
608 618
580 585
495 505
110 115
750 750
630 630
550 560
515 515
600 600
520 520
500 535
470 500
460 485
440 450
510 555
725 725
625 625
550 550
500 500
575 575
490 490
500 500
515 515
500 500
110 110
564 564
547 476
485 459
490 490
450 450
419 441
370 370
713 713
775 775
735 735
813 813
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Table 9: Cashew Raw Nut Prices
Origin 02/07/2015 02/14/2015
India, local
(INR per 80 kg bag) 8400 8800
IVC (USD per tonne) 1040 1270
Benin (USD per tonne) 1150 -
Ghana (USD per tonne) 1180 -
Nigeria
(USD per tonne) - 865
Guinea Bissau
(USD per tonne) - -
Tanzania
((USD per tonne) 1440
Note: Landed cost
Prices of Nuts at International Market
Table 11: Cashew Kernel Prices in International markets
Grades 02/07/2015
Rotterdam (USD per lb FCA)
WW240 3.85-3.90
WW320 3.55-3.60
WW450 3.35-3.40
Vietnam (USD per lb fob)
W240 3.70-3.75
W320 3.30-3.35
W450 3.10-3.15
WS 2.70-2.80
LP 2.60-2.65
Table 10: Other Tree Nuts Prices at Delhi Market (INR/kg)
Grades 02/07/2015
Almond Girdhi in shell 156
Almond Gurbandhi in shell 205
Almond California in shell 549
Almond Kernel California 779
Almond Kernel Gurbandi 693
Pistachio Irani 1300
Pistachio Hairati 1403
Pistachio Peshawari 1525
Walnut New 355
Walnut Kernel 1000
% change in price
over previous week
4.76
18.11
-
-
-
-
-
Table 12: RCN prices in Vietnam
Grades 02/07/2015
Local RCN (VND/kg) 34500
IVC
(USD per ton CNF) 1200
Ghana
(USD per ton CNF) 1015
Nigeria
(USD per ton CNF) 955
Benin
(USD per ton CNF) 1330
Mozambique
(USD per ton CNF) 1355
Tanzania
(USD per ton CNF) 1450
Guinea Bissau
(USD per ton CNF) 1500
(Note: FCA=Free Carrier, fob=free on board, CNF=Cost and
Freight
Prices of Nuts at International Market
: Cashew Kernel Prices in International markets
02/07/2015 02/14/2015
3.90 3.85-3.90
3.60 3.55-3.60
3.40 3.35-3.40
3.75 3.70-3.75
3.35 3.30-3.35
3.15 3.10-3.15
2.80 2.70-2.80
2.65 2.60-2.65
Other Tree Nuts Prices at Delhi Market (INR/kg)
02/14/2015
156
205
546
781
693
1300
1403
1525
355
1000
20
Vietnam
02/07/2015 02/14/2015
% change in
price over
previous week
34500 34500 0.00
1200 1200 0.00
1015 1015 0.00
955 955 0.00
1330 1330 0.00
1355 1355 0.00
1450 1450 0.00
1500 1500 0.00
(Note: FCA=Free Carrier, fob=free on board, CNF=Cost and
turn key plants and machinery for the cashew nut processing
OLTREMARE SRL
ITALY – VIETNAM – BRAZIL – INDIA – WEST AFRICA – EAST AFRICA Headquarters: Via dell’Industria,17-19, Zona Ind. Bargellino - 40012 Calderara di Reno (BO) Italy
+39 051 29 88 311 - +39 051 29 88 333
mail: [email protected] - [email protected] web: www.oltremare.biz
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aauuttoommaattiioonn ssyysstteemmss sshheelllliinngg mmaacchhiinneess ddiicceerrss
cclleeaanneerrss sshheellll//kkeerrnneell sseeppaarraattiioonn ssyysstteemmss sspplliitt//ppiieecceess sseeppaarraattoorrss
ccaalliibbrraattoorrss ccoonnttiinnuuoouuss aanndd ssttaattiicc ddrryyeerrss iinnggrreeddiieenntt pprreeppaarraattiioonn ssyysstteemmss
RRCCNN hhuummiiddiiffiiccaattiioonn ssyysstteemmss ppeeeelliinngg mmaacchhiinneess ppaacckkiinngg ssyysstteemmss
CCNNSSLL bbaatthh rrooaasstteerrss ccoolloorr ssoorrtteerrss bbuucckkeett eelleevvaattoorrss
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Newshighlights
India: Kollam-Tuticorin Deal may hit
Prospects
The proposed Kollam-Tuticorin ports deal is likely to
eat away a major share of cashew imports to the
Cochin port, a move that will help Tuticorin
consolidate its position as the largest cashew
importing port. The deal will help impor
raw cashew arriving at the Tuticorin port to Kollam
port via sea.
Continue reading…
India: Experts bat for cashew in drought
Kolar, Chickballapur
The farmers in Kolar and Chickballapur, which are
reeling under drought for last few years and had dry
weather, can grow cashew as an alternative crop and
reap a good harvest. Experts and officials participated
in a seminar on cashew cultivation at College
Horticultural Sciences here recently said Mysuru,
Tumakuru and Ramanagar districts also can opt for
cashew beside Kolar and Chickballapur.
Continue reading…
Vietnam: Note the purchase and preservation of
cashew crop in 2015
This time, the weather is favorable because there is
often prolonged heat, ensuring that the dried nuts,
anti-mold and ease of storage. Plants that bloom
often simultaneously, the possibility pollination
mixed nuts and cooked evenly. When the fruit ripens
to a certain level, or due to the effects of wind and
rain, it will automatically fall to the ground. Now,
farmers just collected a pile of work to collect grain
by grain junk out of work.
Continue reading…
it Cochin Port
Tuticorin ports deal is likely to
eat away a major share of cashew imports to the
Cochin port, a move that will help Tuticorin
consolidate its position as the largest cashew
importing port. The deal will help importers ship the
raw cashew arriving at the Tuticorin port to Kollam
Continue reading…
Experts bat for cashew in drought-prone
The farmers in Kolar and Chickballapur, which are
reeling under drought for last few years and had dry
weather, can grow cashew as an alternative crop and
reap a good harvest. Experts and officials participated
in a seminar on cashew cultivation at College for
Horticultural Sciences here recently said Mysuru,
Tumakuru and Ramanagar districts also can opt for
Continue reading…
the purchase and preservation of
This time, the weather is favorable because there is
often prolonged heat, ensuring that the dried nuts,
mold and ease of storage. Plants that bloom
often simultaneously, the possibility pollination,
mixed nuts and cooked evenly. When the fruit ripens
to a certain level, or due to the effects of wind and
rain, it will automatically fall to the ground. Now,
farmers just collected a pile of work to collect grain
Continue reading…
EU supports cashew sector projects in Guinea
Bissau
The European Union (EU) plans to contribute 1.5
million euros for projects to “improve the income
of small cashew producers,” in Guinea
according to the documents on the process.
Tanzania earns $256m from cashew
Tanzania’s Cashewnut Board (CBT) has said over
149,742 tons of raw cashew nuts worth $225. 59
million have been exported for the 2014/15
agricultural season. CBT’s Director General,
MfaumeJuma told East African Business Week in
Dar es Salaam last week, this is part of 195,000
tons collected by farmers in their primary
associations through the warehouse receipt
system.
Nigeria could become the large
to Vietnam
On 3/2, in Ho Chi Minh City, took place trade
conference that Vietnam
DucThanh, Chairman of the Vietnam Cashew
Association, said today, Nigeria is ranked 2nd in the
African countries that export raw materials
Vietnam. 2014, Nigeria has exported 106,734 tons
of things to Vietnam, accounting for 13.4% of that
of Vietnam imported raw materials and 80% of the
output of the country.
21
EU supports cashew sector projects in Guinea-
The European Union (EU) plans to contribute 1.5
for projects to “improve the income
of small cashew producers,” in Guinea-Bissau,
according to the documents on the process.
Continue reading…
Tanzania earns $256m from cashew-nut exports
Tanzania’s Cashewnut Board (CBT) has said over
149,742 tons of raw cashew nuts worth $225. 59
million have been exported for the 2014/15
agricultural season. CBT’s Director General,
MfaumeJuma told East African Business Week in
ast week, this is part of 195,000
tons collected by farmers in their primary
associations through the warehouse receipt
Continue reading…
Nigeria could become the largest supply of crude
On 3/2, in Ho Chi Minh City, took place trade
conference that Vietnam - Nigeria. Nguyen
DucThanh, Chairman of the Vietnam Cashew
Association, said today, Nigeria is ranked 2nd in the
African countries that export raw materials to
Vietnam. 2014, Nigeria has exported 106,734 tons
of things to Vietnam, accounting for 13.4% of that
of Vietnam imported raw materials and 80% of the
Continue reading…
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Upcoming trade events Table 13: International Trade Events
Event Name Date Venue
Foodex
Japan
03-06
Mar
2015
MakuhariMesse
- International
Convention,
Chiba, Japan
The
Australian
Nut
Conference
(ANC)
20-22
April
2015
Swissotel
Sydney,
Sydney,
Australia
AFI Annual
Convention
April
22- 26,
2015
Verdura Golf &
Spa Resort
Sciacca, Italy
The INC
World Nut
and Dried
Fruit
Congress
22 - 24
MAY
2015
ANTALYA,
Turkey
Organizer Event Description
MakuhariMesse
International
Japan
Management
Association
It is entirely devoted to the international food and
beverage marketplace. Experts and key decision
makers from whole spectrum of organic food sector
will be seen in the show.
Australian
Nut Industry
Council
It has developed into a must
participants across the nut industry supply chain.
Delegate numbers are rising each event, and more
and more interest from overseas
being received as Australian nut production and
quality is increasing.
Verdura Golf &
AFI
The program on olive oil, tours and the golf
tournament. Speakers will be covering topics of
interest to U.S. importers and foreign suppliers, such
as FDA inspections of foreign facilities, the Food
Safety Modernization Act (FSMA) and DOP
certification.
http://www.afius.org/2015convention
INC
It is the world’s greatest nut and dried fruit industry
event.
22
It is entirely devoted to the international food and
beverage marketplace. Experts and key decision
makers from whole spectrum of organic food sector
It has developed into a must-attend event for
participants across the nut industry supply chain.
rising each event, and more
and more interest from overseas participants is
being received as Australian nut production and
The program on olive oil, tours and the golf
tournament. Speakers will be covering topics of
interest to U.S. importers and foreign suppliers, such
as FDA inspections of foreign facilities, the Food
Safety Modernization Act (FSMA) and DOP
http://www.afius.org/2015convention
It is the world’s greatest nut and dried fruit industry
VOLUME
16 ISSUE
07 08-14 Feb, 2015
Table 14: National Trade Events
Event Name Date Venue
National
Cashew
Seminar-
2015
13-14
March
2015
Institute
Menezes
Braganza
Panjim,
Goa
Organizer Event Description
DCCD ,
Kochi
Seminar on "The Cashew
seminar will evaluatedevelopmental efforts so far taken up
on cashew at national level and identify problems
confronting production, processing marketing and
promotion of cashew development to draw suitable action
plan for the sustainable development of the crop in the
country.
23
Seminar on "The Cashew–Prospective crop of future"
evaluatedevelopmental efforts so far taken up
on cashew at national level and identify problems
confronting production, processing marketing and
promotion of cashew development to draw suitable action
plan for the sustainable development of the crop in the
VOLUME
16 ISSUE
07 08-14 Feb, 2015
"Do you have an interesting story to share with us on cashew value chain (in your region/country),
innovation, processing, technology, financing or any topic related to cashew industry?
GLOBAL CASHEW INDUSTRY
CASHEW WEEK & WWW.CASHEWINFO.COM
For Advertisement in Cashew Week
Banner Space on www.cashewinfo.com
CONTACT:
Disclaimer: The mentioned ideologies in this report are based on the research done at Foretell Business Solutions Private
Limited, Bangalore. Foretell will not be responsible for any kind of losses
indirectly based on our research results, though we have presented the best of our knowledge.
"Do you have an interesting story to share with us on cashew value chain (in your region/country),
innovation, processing, technology, financing or any topic related to cashew industry?
at [email protected] "
REACH OUT
TO
GLOBAL CASHEW INDUSTRY
ADVERTISE IN
CASHEW WEEK & WWW.CASHEWINFO.COM
For Advertisement in Cashew Week
&
Banner Space on www.cashewinfo.com
CONTACT: [email protected]
The mentioned ideologies in this report are based on the research done at Foretell Business Solutions Private
Limited, Bangalore. Foretell will not be responsible for any kind of losses incurred by any party either directly or
indirectly based on our research results, though we have presented the best of our knowledge.
24
"Do you have an interesting story to share with us on cashew value chain (in your region/country),
innovation, processing, technology, financing or any topic related to cashew industry? If yes, write to us
CASHEW WEEK & WWW.CASHEWINFO.COM
The mentioned ideologies in this report are based on the research done at Foretell Business Solutions Private
incurred by any party either directly or
indirectly based on our research results, though we have presented the best of our knowledge.