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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Volume 18 | Issue 50 | Dec 03-09 2017
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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Volume 18 | Issue 50 | Dec 03-09 2017
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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Volume 18 | Issue 50 | Dec 03-09 2017
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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Volume 18 | Issue 50 | Dec 03-09 2017
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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Volume 18 | Issue 50 | Dec 03-09 2017
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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Volume 18 | Issue 50 | Dec 03-09 2017
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…
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CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
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…
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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
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check data and information prior to publishing, Foretell or its employees or external contributors will not be responsible for any kind of
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