cashew week august 20 2018 · 2018-09-28 · global cashew market at a glance india: in the first...
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CASHEW WEEK A WEEKLY NEWSLETTER
Volume 19 | Issue 34 | Aug
CASHEW WEEK A WEEKLY NEWSLETTER
| Aug 12-18, 2018
Volume 19 | Issue 34 | Aug
| Aug 12-18, 2018
Released on August 20
IN THE CASHEW WEEK
Cashewinfo Market Summary
Cashew Experts Market Commentaries International Prices of Nuts
Domestic Prices of Nuts
Currency Movement and Outlook Almond Report
Volume 19 | Issue 34 | Aug
20th, 2018
IN THE CASHEW WEEK..
Cashewinfo Market Summary
Cashew Experts Market Commentaries – India and International
International Prices of Nuts
Domestic Prices of Nuts
Currency Movement and Outlook
Almond Report
| Aug 12-18, 2018
India and International
Global Cashew Market at a Glance India: In the first seven months of 2018 (up to July), India has imported about
400,000 tons of RCN. India may import another 250,000
remainder of this year, if the quality of RCN is good. This is in line with our earlier
estimate that India’s RCN imports may not exceed 700,000 tons for 2018.
Kernel price in the domestic market cont
part of the country slightly moved higher for most of the grades
demand continued to remain reasonably good.
Last week flash floods led to extensive damage to key cashew growing state of
Kerala, which includes the cashew processing hub of Kollam. As we are aware than
more than 700 cashew factories are closed in that region due to NPA problems and
they are waiting for government’s financial bailout package for reviving their
factories. The extent of damage will be known in a week or two.
Indian Prime Minister Mr Modi has said last week that a new
policy will be unveiled soon to boost farm income as the government is on track to
achieve the target of doubling farmers' income by 2022.
RCN Prices for Different Origins
Region wise-India Rs Per Kg
Mangalore (Karnataka)
Palasa (Andhra)
Panruti (Tamil Nadu)
Jeypore/ganjam (Odisha)
Goa
Maharashtra*
* Price includes of places like Banda Vietnam: Vietnam’s 2018 RCN production is estimated at 300,000 tons and that of
Cambodia well above 150,000 tons.
Vietnam in the first seven months of 2018 imported RCN in excess of 600,000 tons.
About 250,000 to 300,000 tons of RCN is still lying at various bonde
and afloat.
Vinacas attempt to secure a bailout package of USD 800 million for the cashew
industry from state bank of Vietnam so far has not yielded positive results. This
may result in lesser import of RCN in the coming months, unless kernel
improves.
Volume 19 | Issue 34 | Aug
Global Cashew Market at a Glance
In the first seven months of 2018 (up to July), India has imported about
India may import another 250,000-300,000 tons in the
remainder of this year, if the quality of RCN is good. This is in line with our earlier
estimate that India’s RCN imports may not exceed 700,000 tons for 2018.
Kernel price in the domestic market continue to remain stable and in the eastern
part of the country slightly moved higher for most of the grades, as domestic
demand continued to remain reasonably good.
Last week flash floods led to extensive damage to key cashew growing state of
includes the cashew processing hub of Kollam. As we are aware than
more than 700 cashew factories are closed in that region due to NPA problems and
they are waiting for government’s financial bailout package for reviving their
ge will be known in a week or two.
Indian Prime Minister Mr Modi has said last week that a new agriculture export
policy will be unveiled soon to boost farm income as the government is on track to
achieve the target of doubling farmers' income by 2022.
RCN Prices for Different Origins
10-Aug 17-Aug
Rs Per Kg Usd Per Kg Rs Per Kg Usd Per Kg
125 1.81 125
132-135 1.91-1.96 132-135 1.89
125 1.81 113-115 1.62
125-135 1.81 125-135 1.79
150 2.17 150
130-140 1.88-2.03 *
* Price includes of places like Banda, Kankouli, Ratnagiri, Vengurla and Kolhapur
Vietnam’s 2018 RCN production is estimated at 300,000 tons and that of
Cambodia well above 150,000 tons.
Vietnam in the first seven months of 2018 imported RCN in excess of 600,000 tons.
About 250,000 to 300,000 tons of RCN is still lying at various bonded warehouses
Vinacas attempt to secure a bailout package of USD 800 million for the cashew
industry from state bank of Vietnam so far has not yielded positive results. This
may result in lesser import of RCN in the coming months, unless kernel
| Aug 12-18, 2018
In the first seven months of 2018 (up to July), India has imported about
300,000 tons in the
remainder of this year, if the quality of RCN is good. This is in line with our earlier
estimate that India’s RCN imports may not exceed 700,000 tons for 2018.
inue to remain stable and in the eastern
, as domestic
Last week flash floods led to extensive damage to key cashew growing state of
includes the cashew processing hub of Kollam. As we are aware than
more than 700 cashew factories are closed in that region due to NPA problems and
they are waiting for government’s financial bailout package for reviving their
agriculture export
policy will be unveiled soon to boost farm income as the government is on track to
Usd Per Kg
1.79
1.89-1.93
1.62-1.65
1.79-1.93
2.15
*
and Kolhapur
Vietnam’s 2018 RCN production is estimated at 300,000 tons and that of
Vietnam in the first seven months of 2018 imported RCN in excess of 600,000 tons.
d warehouses
Vinacas attempt to secure a bailout package of USD 800 million for the cashew
industry from state bank of Vietnam so far has not yielded positive results. This
may result in lesser import of RCN in the coming months, unless kernel price
Africa: Cote d’Ivoire RCN crop is likely to exceed the initial figure of 750,000 tons
by about 5-7 percent. More than 500,000 tons of RCN exported till July end.
Overall in West Africa about 280,000 to 300,000 tons of RCN is waiting to
exported (stored in warehouses/with traders/very few left with farmers).
Going by the weather conditions so far, Tanzania
with last year levels.
Cashew Kernel
Tuticorin FOB Cashew Kernel price USD per lb
Vietnam FOB Cashew Kernel price USD per lb
Volume 19 | Issue 34 | Aug
Cote d’Ivoire RCN crop is likely to exceed the initial figure of 750,000 tons
7 percent. More than 500,000 tons of RCN exported till July end.
Overall in West Africa about 280,000 to 300,000 tons of RCN is waiting to
exported (stored in warehouses/with traders/very few left with farmers).
Going by the weather conditions so far, Tanzania’s rcn crop is likely to be at par
Tuticorin FOB Cashew Kernel price USD per lb - India
Vietnam FOB Cashew Kernel price USD per lb
| Aug 12-18, 2018
Cote d’Ivoire RCN crop is likely to exceed the initial figure of 750,000 tons
7 percent. More than 500,000 tons of RCN exported till July end.
Overall in West Africa about 280,000 to 300,000 tons of RCN is waiting to get
exported (stored in warehouses/with traders/very few left with farmers).
crop is likely to be at par
Cashew kernel prices for both Indian and Vietnam has not declined in the last one
month or so, which shows that the fall
to stabilize soon. But at the same time upside is also seems to be limited.
Source: Cashewinfo.com
Highlights of Key Cashew Stakeholders Meeting
In Dubai on August 11, 2018
In order to discuss and resolve the current
called for a meeting of key cashew stakeholders (governments and associations
only) in Dubai on August 11, 2018. It was attended by Director General Cotton and
Cashew nut Council, Cote d’Ivoire (CCA) along with a three
from CCA; CEO, Nigerian Cashew Export Promotion Council (NEPC) along with a
member of NEPC; Chairman, Cashew Export Promotion Council of India (CEPCI);
Vice President, Vietnam Cashew Association (Vinacas); Vice President, Association
of Cashew Exporters of Cote d’Ivoire (AEC
Manufacturers Association (KCMA). Key points are summarised below
1. The most important aspects highlighted by rcn exporters are (a) contract
sanctity and performance by processors
before cashew season 2019. The representatives of processors from India
and Vietnam have highlighted
respective industry and the solutions that they are attempting. Both agreed
that if rcn price is aligned to kernel price and if quality of rcn is assured,
then the situation can be brought under control in the next six
time. On the ground, there are real challenges in Vietnam, as banks are
reluctant to financing
the current market. Vinacas attempt to secure a bail
Bank of Vietnam has not been successful.
2. The discussions also focused on the level of taxes and levies on remaining
stocks. Exporting countries have promised to make efforts. A positive
response is expected in this direction soon.
3. The processing countries
representatives to align the export levy and minimum farm gate price to the
kernel prices, link minimum farm gate price with rcn quality and if possible,
make them dynamic. The government representatives from rcn producing
countries took note of the same. For the unsold stock of this season,
producing countries offered to support processing coun
inspection of existing stocks at origin, so that good quality rcn is exported
soon.
4. As a medium to long term solution, the group urged collective effort in
standardising rcn quality and contract terms with the support of
International Cashew Consultative Council (ICCC). Director General of CCA,
Volume 19 | Issue 34 | Aug
Cashew kernel prices for both Indian and Vietnam has not declined in the last one
month or so, which shows that the fall in kernel price may be limited and are likely
to stabilize soon. But at the same time upside is also seems to be limited.
Highlights of Key Cashew Stakeholders Meeting
Dubai on August 11, 2018
In order to discuss and resolve the current crisis in rcn sector, Cashewinfo
called for a meeting of key cashew stakeholders (governments and associations
only) in Dubai on August 11, 2018. It was attended by Director General Cotton and
nut Council, Cote d’Ivoire (CCA) along with a three-member delegation
from CCA; CEO, Nigerian Cashew Export Promotion Council (NEPC) along with a
member of NEPC; Chairman, Cashew Export Promotion Council of India (CEPCI);
ice President, Vietnam Cashew Association (Vinacas); Vice President, Association
ashew Exporters of Cote d’Ivoire (AEC-CI); and Secretary, Karnataka Cashew
Manufacturers Association (KCMA). Key points are summarised below:
The most important aspects highlighted by rcn exporters are (a) contract
sanctity and performance by processors; and (b) clearing of remaining stocks
before cashew season 2019. The representatives of processors from India
highlighted the various challenges faced by their
respective industry and the solutions that they are attempting. Both agreed
at if rcn price is aligned to kernel price and if quality of rcn is assured,
then the situation can be brought under control in the next six
time. On the ground, there are real challenges in Vietnam, as banks are
rcn cargoes that are priced at levels out of parity with
inacas attempt to secure a bail-out package from State
Bank of Vietnam has not been successful.
The discussions also focused on the level of taxes and levies on remaining
ng countries have promised to make efforts. A positive
response is expected in this direction soon.
The processing countries have also requested the government
representatives to align the export levy and minimum farm gate price to the
link minimum farm gate price with rcn quality and if possible,
make them dynamic. The government representatives from rcn producing
countries took note of the same. For the unsold stock of this season,
offered to support processing countries with quality
inspection of existing stocks at origin, so that good quality rcn is exported
As a medium to long term solution, the group urged collective effort in
standardising rcn quality and contract terms with the support of
Cashew Consultative Council (ICCC). Director General of CCA,
| Aug 12-18, 2018
Cashew kernel prices for both Indian and Vietnam has not declined in the last one
price may be limited and are likely
to stabilize soon. But at the same time upside is also seems to be limited.
Highlights of Key Cashew Stakeholders Meeting
crisis in rcn sector, Cashewinfo has
called for a meeting of key cashew stakeholders (governments and associations
only) in Dubai on August 11, 2018. It was attended by Director General Cotton and
member delegation
from CCA; CEO, Nigerian Cashew Export Promotion Council (NEPC) along with a
member of NEPC; Chairman, Cashew Export Promotion Council of India (CEPCI);
ice President, Vietnam Cashew Association (Vinacas); Vice President, Association
CI); and Secretary, Karnataka Cashew
The most important aspects highlighted by rcn exporters are (a) contract
; and (b) clearing of remaining stocks
before cashew season 2019. The representatives of processors from India
various challenges faced by their
respective industry and the solutions that they are attempting. Both agreed
at if rcn price is aligned to kernel price and if quality of rcn is assured,
then the situation can be brought under control in the next six months’
time. On the ground, there are real challenges in Vietnam, as banks are
that are priced at levels out of parity with
out package from State
The discussions also focused on the level of taxes and levies on remaining
ng countries have promised to make efforts. A positive
also requested the government
representatives to align the export levy and minimum farm gate price to the
link minimum farm gate price with rcn quality and if possible,
make them dynamic. The government representatives from rcn producing
countries took note of the same. For the unsold stock of this season,
tries with quality
inspection of existing stocks at origin, so that good quality rcn is exported
As a medium to long term solution, the group urged collective effort in
standardising rcn quality and contract terms with the support of
Cashew Consultative Council (ICCC). Director General of CCA,
Cote d’Ivoire invited India, Vietnam and Nigeria to join ICCC which
already represented by
proposed setting up of a cashew commodity exchange, which can help
a benchmark price and also help in contract performance, once the quality
and contract norms are finalised.
Date: August 20, 2018, Place: Bengaluru
Note: If you have any suggestions or comments or feedback, please
write to [email protected]
CASHEW MARKET
COMMENTARIES FROM
Good demand from local market has seen during the past week as packers whom
need to buy goods for their export contracts with buyers. Prices traded from local
market were firm and the main grade traded was W320. Certain quantity traded by
traders to exporters. Some quantities of pieces
prices.
On the contrary demand from local market is weak for export market as most of
buyers were not in the market to buy. Prices of cashews
and very limited trades done
shipment, sold by medium packers. The entirely market was quiet as sellers want
to uphold their offer at certain prices while buyers to have some discount on the
prices, if they see offers are reasonable they
withdraw their steps from the market. Packers are trying not to sell cashews under
market levels as they have been suffering heavily losses this year. Anticipation from
here is that (since Sep onward
cannot wait any more. Unofficial information releasing on to the market
buyers from main buying destinations will need to buy more in the coming time as
their inventories are thinning out and they will need to store go
demand in the coming time. If this happens
little bit; otherwise prices will be falling down gradually
Source: Kim, Khiem Nguyen Co., Ltd, Vietnam
Guinea Bissau
• Buying/selling has practically stopped
with about 100,000 mt having been shipped out so far. A further 30
is lying in various warehouses awaiting shipment.
• An estimated 10,000 mt remains in the Bush and about 20,000 mt has crossed
the border.
Volume 19 | Issue 34 | Aug
Cote d’Ivoire invited India, Vietnam and Nigeria to join ICCC which
ed by nine cashew producing countries. The group also
proposed setting up of a cashew commodity exchange, which can help
a benchmark price and also help in contract performance, once the quality
and contract norms are finalised.
lace: Bengaluru
Note: If you have any suggestions or comments or feedback, please
[email protected] cc [email protected]
CASHEW MARKET
COMMENTARIES FROMEXPERTS
demand from local market has seen during the past week as packers whom
need to buy goods for their export contracts with buyers. Prices traded from local
market were firm and the main grade traded was W320. Certain quantity traded by
Some quantities of pieces were also traded at reasonable
On the contrary demand from local market is weak for export market as most of
buyers were not in the market to buy. Prices of cashews were slightly gone down
and very limited trades done at USD 3/75/3.80 per lb fob for W320 for early Sep
medium packers. The entirely market was quiet as sellers want
to uphold their offer at certain prices while buyers to have some discount on the
prices, if they see offers are reasonable they will pick up otherwise they will
withdraw their steps from the market. Packers are trying not to sell cashews under
market levels as they have been suffering heavily losses this year. Anticipation from
since Sep onwards) buyers will have to cover more goods then as they
more. Unofficial information releasing on to the market
from main buying destinations will need to buy more in the coming time as
their inventories are thinning out and they will need to store goods for further
demand in the coming time. If this happens, market will be then get
otherwise prices will be falling down gradually.
Kim, Khiem Nguyen Co., Ltd, Vietnam
Buying/selling has practically stopped and exporters are focusing on shipments
with about 100,000 mt having been shipped out so far. A further 30
is lying in various warehouses awaiting shipment.
An estimated 10,000 mt remains in the Bush and about 20,000 mt has crossed
| Aug 12-18, 2018
Cote d’Ivoire invited India, Vietnam and Nigeria to join ICCC which was
nine cashew producing countries. The group also
proposed setting up of a cashew commodity exchange, which can help to set
a benchmark price and also help in contract performance, once the quality
Note: If you have any suggestions or comments or feedback, please
demand from local market has seen during the past week as packers whom
need to buy goods for their export contracts with buyers. Prices traded from local
market were firm and the main grade traded was W320. Certain quantity traded by
traded at reasonable
On the contrary demand from local market is weak for export market as most of
slightly gone down
3/75/3.80 per lb fob for W320 for early Sep
medium packers. The entirely market was quiet as sellers want
to uphold their offer at certain prices while buyers to have some discount on the
will pick up otherwise they will
withdraw their steps from the market. Packers are trying not to sell cashews under
market levels as they have been suffering heavily losses this year. Anticipation from
cover more goods then as they
more. Unofficial information releasing on to the market is that
from main buying destinations will need to buy more in the coming time as
ods for further
get supported a
and exporters are focusing on shipments
with about 100,000 mt having been shipped out so far. A further 30-40,000 mt
An estimated 10,000 mt remains in the Bush and about 20,000 mt has crossed
• This would indicate there is definitely a short
30,000 mt.
Source: John Rao, Bijagos Comerciais S.a.r.l.
Gambia and Senegal
• Rains have begun in SeGAbi.
• About 15,000MT exported from Gambia
• With about 3,000MT awaiting
• Senegal has exported about 20,000MT & still about 5,000MT awaiting exports.
• There still seems to be some crop lying in the bush but it’s off very very low
quality and prices offered
• About 50,000MT at best will be ex
export of about 75,000MT done from Banjul in the years gone by.
• There is a fall In quality
exacerbates the situation.
Source: Amrith Kurien, Comafrique Gambia
CNSL Market Report
Market CNSL
Mangalore 21.00-23.00 Courtesy: Kanco Venkatesh
The downslide in CNSL is still 22.50 per kg. Shells are costing about Andhra. As very few mills are runningfetching about INR 5.50 per kand friction dust manufacturers in Tamil Nadu. Kerala has suffered lot and so are cashew factories in various areas. If damage is
vast, it will take couple of months for Kerala factories to be back on track. This
would result in lesser production of kernels causing price hike.
Courtesy: O.N. Phadnis, Panruti,
International Prices of Nuts Table-1: Cashew Kernel FOB
Grades Tuticorin
(USD/lb fob)
W240 4.00 - 4.35
W320 3.85 - 4.20
W400/450 3.80 - 4.00
SW320 3.80 - 3.90
SW360 3.70 - 3.75
Volume 19 | Issue 34 | Aug
This would indicate there is definitely a short-crop this year to the tune of 20
John Rao, Bijagos Comerciais S.a.r.l.
Rains have begun in SeGAbi.
About 15,000MT exported from Gambia
With about 3,000MT awaiting exports.
Senegal has exported about 20,000MT & still about 5,000MT awaiting exports.
There still seems to be some crop lying in the bush but it’s off very very low
offered being seemed are still higher.
About 50,000MT at best will be exported between the 2 ports as against an
export of about 75,000MT done from Banjul in the years gone by.
uality of RCN and the Inability to dry as
ituation.
Comafrique Gambia
Cake Shells Cardanol
(INR/Kg)
4.00-4.20 6.20-6.30 51.00
Kanco Venkatesh and Santhosh Silva, Karnataka
The downslide in CNSL is still continued; with no big buying. Present rate is . Shells are costing about INR 8-10 per kg and mainly bought in
Andhra. As very few mills are running, there is scarcity of cashew oil cake and it is 50 per kg. The main buyer for CNSL is cardanol manufactures
turers in Tamil Nadu.
Kerala has suffered lot and so are cashew factories in various areas. If damage is
vast, it will take couple of months for Kerala factories to be back on track. This
would result in lesser production of kernels causing price hike.
Panruti, Tamilnadu
International Prices of Nuts
Kernel FOB prices in major ports as on 08/17/18
(USD/lb fob)
Kollam
(USD/lb fob)
Ho Chi Minh
(USD/lb fob)
4.35 4.20-4.25 3.95 - 4.10
4.20 3.90-3.95 3.75 - 3.85
4.00 3.70-3.75 3.60
3.90 - -
3.75 - -
| Aug 12-18, 2018
crop this year to the tune of 20-
Senegal has exported about 20,000MT & still about 5,000MT awaiting exports.
There still seems to be some crop lying in the bush but it’s off very very low
ported between the 2 ports as against an
as monsoons
. Present rate is INR and mainly bought in
there is scarcity of cashew oil cake and it is . The main buyer for CNSL is cardanol manufactures
Kerala has suffered lot and so are cashew factories in various areas. If damage is
vast, it will take couple of months for Kerala factories to be back on track. This
Grades Tuticorin
(USD/lb fob)
WS 3.70 - 3.85
LP 3.55 - 3.65
Table-2: African Cashew Kernel Price (Estimated for 2018)
Cashew Kernel price info
Grade Description
WHITE WHOLES CASHEWS 210
WHITE WHOLES CASHEWS 240
WHITE WHOLES CASHEWS 320
WHITE WHOLES CASHEWS 450
SCORCHED WHOLES CASHEWS 210
SCORCHED WHOLES CASHEWS 240
SCORCHED WHOLES CASHEWS 320
SCORCHED WHOLES CASHEWS 450
FIRST BUTTS/ WHITE BUTTS
FIRST SPLITS/ WHITE SPLITS
LARGE WHITE PIECES
SMALL WHITE PIECES
CHIPPS
BABY BITS
SCORCHED BUTTS
SCORCHED SPLITS
SCORCHED PIECES
Domestic Prices of Nuts Table-3: Cashew Kernel: India spot prices in production centres as on 08/17/18 in INR/kg
Grades Mangalore (Karnataka
-10Kg)
Kollam (Kerala)
W180 9500 882
W210 9000 838
W240 8150 719
W320 7500 710
W400 7200 -
W450 - 683
W1 7350 -
S180 9000 -
S210 8750 -
S240 7800 -
Volume 19 | Issue 34 | Aug
(USD/lb fob)
Kollam
(USD/lb fob)
Ho Chi Minh
(USD/lb fob)
3.85 3.65-3.70 3.55
3.65 3.45-3.50 3.30 - 3.40
2: African Cashew Kernel Price (Estimated for second half of
W1-W2, August, 2018
Grade Price/Lbs
(L) Price/Lbs
WHITE WHOLES CASHEWS 210 W-210 4.25
WHITE WHOLES CASHEWS 240 W-240 4.10
CASHEWS 320 W-320 3.90
WHITE WHOLES CASHEWS 450 W-450 3.65
SCORCHED WHOLES CASHEWS 210 SW-210 4.00
SCORCHED WHOLES CASHEWS 240 SW-240 3.85
SCORCHED WHOLES CASHEWS 320 SW-320 3.70
SCORCHED WHOLES CASHEWS 450 SW-450 3.50
FIRST BUTTS/ WHITE BUTTS FB/WB 3.45
FIRST SPLITS/ WHITE SPLITS FS/WS 3.50
LWP 3.00
SWP 2.90
CH 2.00
BB 1.60
SB 3.25
SS 3.20
SP 2.00
Domestic Prices of Nuts
Kernel: India spot prices in production centres as on
Vetapalam (A.P)
Panruti (TN)
Goa Jeypore-Odisha
GanjamOdisha
- - 1150 -
730 - 940 830
700 720 860 770
670 680 810 720 8
650 - 780 700
- 695 770 -
- - 800 -
- - 1000 -
- - 880 760
- - 840 730
| Aug 12-18, 2018
half of August-
W2, August, 2018
Price/Lbs (H)
4.30
4.15
4.05
3.85
4.15
3.90
3.75
3.65
3.50
3.60
3.10
3.00
2.10
1.80
3.35
2.40
2.20
Kernel: India spot prices in production centres as on
Ganjam- Odisha
Ahmedabad-Gujarat
- 975
950 915
930 855
850-880 790
- 755
730 730
-
- 930
860
- 820
Grades Mangalore (Karnataka
-10Kg)
Kollam (Kerala)
S320 - -
S 7500 710
LWP 6800 661
SWP 6200 595
K 7150 -
JH 7850 -
SSW 7150 -
BB 5200 639
JK/JB 7300 -
SW 7000 -
SW320 - -
Prices of Nuts in Other Indian Markets Table-4: Cashew kernel: India spot prices at terminal markets as on in INR/kg
Table-5: Other Tree nut and Dry Fruits
Grades Delhi (Maharashtra)
W180 1065/1070
W210 960/980
W240 875/880
W320 770
W400 -
S 725/765
LWP 600/715
SWP 500/660
Grades
Almond Giridi in shell
Almond Gurbandi (in-shell)
Almond California in shell
Almond Kernel California
Almond Kernel Gurbandi
Pistachio Irani
Pistachio Hairati
Pistachio Peshawari
Walnut New
Walnut Kernel
Fig Common
Volume 19 | Issue 34 | Aug
Vetapalam (A.P)
Panruti (TN)
Goa Jeypore-Odisha
GanjamOdisha
- - - -
- 720 750
620 670 720 600
- 600 650 500
- - 740 630
670 - 780 700
- - 750
500 450 450
- - 750 620
- 590 740 -
- - - 690
Prices of Nuts in Other Indian Markets
: Cashew kernel: India spot prices at terminal markets as on
: Other Tree nut and Dry Fruits Prices at the Delhi Market (INR/Kg)
Kolhapur
(Maharashtra) Mumbai
1160 1150
1070 980
990 900/920
880 860
- 780
850 800
810 740
730 650/680
08/11/2018 08/18/2018
125 125
300 290
468/470 482.5/485
673/675 695/700
650/750 650/750
1250/1400 1250/1400
1570/1600 1570/1600
1660/1670 1660/1670
350/450 350/450
650/1050 650/1050
625/650 625/650
| Aug 12-18, 2018
Ganjam- Odisha
Ahmedabad-Gujarat
- 745
- 745
700 705
650 670
- 720
700 -
- -
480 450
- -
- -
- -
: Cashew kernel: India spot prices at terminal markets as on 08/18/18
Prices at the Delhi Market (INR/Kg)
Currency Impact
Table-6: Forex rates in USD
Indian rupee weakened to record low of 70.74 on geo Indian rupee weakened to record low of
70.74 during last week owing to geo
political concerns and on resurgent
dollar. Weak rupee is likely to have an
impact on CAD and the coming few weeks
trend will determine how far the rupee is
likely to weaken further.
Indian rupee last week traded in the
region of 69.39 and 70.74
settled the week at 70.20
dollar on Aug-17-2018. Support is seen in the region of 69.30 and 69.10
levels going forward. On the higher side 70.20 and 70.40 will act as near term
resistance.
Fig Medium
Fig Best
Apricot
Kishmish (Rs per quintal)
Indian Yellow
Indian Green
Kandhari New
Ranga
Dry Dates (Rs per quintal)
Red
Rangkat
Currency
Indian Rupee (INR)RBI ref rateEuro (EUR) Japanese Yen (JPY)
Brazilian Real (BRL)
Chinese Yuan (CNY) Singapore Dollar (SGD) Tanzanian Shilling (TZS)
Thai Baht (THB) Mozambique New Metical (MZN)Vietnam Dong (VND)
Indonesian Rupiah (IDR)
Benin CFA Franc BCEAO (XOF)Ghanaian New Cedi (GHS)
Volume 19 | Issue 34 | Aug
: Forex rates in USD
Indian rupee weakened to record low of 70.74 on geo-political concerns
Indian rupee weakened to record low of
70.74 during last week owing to geo-
political concerns and on resurgent
dollar. Weak rupee is likely to have an
ming few weeks
trend will determine how far the rupee is
Indian rupee last week traded in the
70.74 and finally
against the
Support is seen in the region of 69.30 and 69.10
levels going forward. On the higher side 70.20 and 70.40 will act as near term
700/750 700/750
800/875 800/875
250/500 200/625
200/225 200/225
250/325 250/325
300/525 300/525
275/300 275/300
3200/10000 3200/10000
4600/11000 4600/11000
08/10/18 08/17/18 Wk-on-Wk % Change
Indian Rupee (INR)RBI ref rate 69.02 70.23 1.14 1.14
110.81 110.51 3.86 3.91 6.84 6.88 1.37 1.37
2282.20 2281.60 33.32 33.18
Metical (MZN) 57.92 58.96 23277.00 23294.00 14494.00 14578.80
Benin CFA Franc BCEAO (XOF) 575.00 577.00 4.78 4.88
| Aug 12-18, 2018
political concerns
Support is seen in the region of 69.30 and 69.10-68.80
levels going forward. On the higher side 70.20 and 70.40 will act as near term
Wk % Change
1.75 0.00
-0.27
1.28
0.55 0.07
-0.03
-0.42 1.80
0.07
0.59
0.35 1.99
Volume 19 | Issue 34 | Aug 12-18, 2018
Brazil real may weaken further Brazil real weakened once again due to
currency crisis starting with Turkey’s
Lira after US imposed double tariffs on
trade and the same equal measure was
imposed by Turkey on US imports.
Moreover uncertainly over October
presidential elections in Brazil may
unsettle real going forward.
Brazil real last week was traded in the
region of 3.8580 and 3.9517 and finally
settled the week at 3.9122 as on Aug-17-2018. Support is seen in the region of
3.85 and 3.80 levels. Upside for the time being is likely to be capped in the region
of 3.95 and 3.98 levels and only above to signal further weakness.
Vietnam dong may test 23350-23400
Vietnam dong last week traded in the region of 23,317.50 and 23,286 and finally
settled the week at 23,294 against the dollar on Aug-17-2018. Dong may test
23350-23400 levels going forward.
Comparative Movement of Currencies in 2018 (Jan-Aug)
Vis-à-vis USD in cashew processing regions (Weeks starts from January’
2018 and value indexed to 100)
97.00
102.00
107.00
112.00
117.00
122.00
Indian Rupee Brazilian Real Vietnamese Dong
Volume 19 | Issue 34 | Aug 12-18, 2018
Almond and Other Tree Nuts Report In Delhi's, Khari Baoli Market:
NP Inshell INR 19400-19600/40kg for 70% SS (USD 2.42-2.45 lbs per kg)
BDG INR 19800-20000/40 kg (USD 2.50-2.53 lbs per kg)
FAQ Kernels 695-710 per kg
Hand Picked 725-730 per kg
Australian In shell's were in good demand as California supplies were cut off by
traders on account of the expectation of higher prices in the coming week, but still
at an discount of around two percent on Californian In shell prices and accordingly
on Kernels. High percentage of pinholes and discoloration has discounted the
Aussie products. Carmel/Price varieties were selling at INR 14300-14500/40 Kg.
Indian Currency depreciated and remained volatile for the week against the USD
with high of Rs.70.74, low of 68.39 and closed the week at 70.20, For the first time
the INR has crossed and closed above INR 70 coinciding with the 71st year of
India's Independence year celebrated on August 15th.Turkey's currency
devaluation after US imposing sanctions has had an impact on Indian and other
emerging economies currencies .Now Indian currency is being predicted to fall till
72 to USD, but this being the last year for the Modi government before it goes to
poll in early 2019, we might see some correction very soon with RBI intervening to
stop the free fall, which has been making the fuel costlier impacting overall
economy.
Monsoon has been furious across India this year and in certain states we have seen
the floods of the century especially in southern most of state of Kerala which is one
of the largest producer of Spices and Cashews, All the 14 districts including the
famous Kollam city, the capital of Cashew Industry submerged under rain water,
Over 10000 Kms of roads have been wiped off the state with over 350 deaths
reported so far with losses pegged over INR19000 Cr.
There was good demand in the market with prices looking very bullish, It seems
that the demand will surpass the present supply position and may be in a month’s
time we would balance out the excess 22 percent imports of the CY 2017, The
markets looked positive despite 2 holidays in the week and probably will carry the
positive sentiments to next couple of weeks leading to higher prices.
Origin prices were stable for August shipments at 2.30-32$/lb on CIF Basis with 5
cents discounts for September shipments, Buyer were seen covering for August
shipments, but by the end of the week few of the packers had withdrawn from the
market with the staple reason of 10-15 percent drop in yields post harvest
beginning, not sure how correct it would prove by the end of November, We need to
understand that the California markets with an estimated crop size of 2.45 Billion
is well undersold, there is trade uncertainty with US and other countries,
currencies of bigger markets are plunging, thus making imports costlier. In India
Volume 19 | Issue 34 | Aug 12-18, 2018
many of the trade pundits predict that the Almond imports may fall this year as
compared to CY 2017 as most of the importers lost huge money in the last six
months, The California markets need to sell more to balance out.
All other nuts and dry fruits saw decent demand and bullish prices. Walnuts was
in good demand and as stated earlier in case the prices of Inshell Chandlers touch
around 1-1.5$/lbs in California we would see good demand out of India despite
hike in import duties.
New crop Iranian Pistachios is also round the corner and few of the packers have
started offering but it’s the trade sanctions which are major sentimental deterrent
despite most the traders invoicing it through Dubai as the traders in India do not
want to risk their trades with US, Which will be a great benefit for US Pistachio
Industry.
Source: Ravindra Mehta,IFNO, New Delhi – India
Almond Price Chart Almond Kernel price of California (in Delhi market) during last week traded higher
in the region of INR 695 and 700 per kg. Cashew W320 Delhi, remain unchanged at
last week traded price of INR 770 per kg.Price of Walnut kernel during last week
traded in the region of INR 650 and 1050 per kg. Priceof Pistachio Irani during last
week traded in the region of INR 1250 and 1400 per kg.
500
700
900
1100
1300
1500
2/17/2018 3/19/2018 4/18/2018 5/18/2018 6/17/2018 7/17/2018 8/16/2018
Rs p
er
kg
Almond Kernel California Walnut Kernel
Cashew Kernel W320 Pistachio Irani
Volume 19 | Issue 34 | Aug 12-18, 2018
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