Volume 20 | Issue 45| Nov 03-09, 2019

®

CASHEW WEEK A WEEKLY NEWSLETTER

Volume 20 | Issue 45| Nov 03-09, 2019

Released on November 11, 2019

(

IN THE CASHEW WEEK... Cashewinfo Market Summary

Cashew Experts Market Commentaries – India and International

India EXIM Data : September-2019

US Import Data : September-2019

International Prices of Nuts

Domestic Prices of Nuts

Currency Movement and Outlook

Almond Report

Health Benefits

Volume 20 | Issue 45| Nov 03-09, 2019

Global Cashew Market at a Glance India

RCN imports during Sep-2019 totaled 78,075 tons, with average price being

USD 1223 per ton. This is as against 92,477 tons imported during Sep-2018.

RCN imports in the first nine months of 2019 totaled 726,000 tons Vs

695,000 tons during the same period in 2018

Cashew kernel exports during Sep-2019 have totaled 4897 tons, with average

price being USD 8064 per ton. This is as against 5064 tons exported during

Sep-2018.

Kernel exports in the first nine months of 2019 totaled 47,583 tons Vs

47,500 tons exported during the same period in 2018.

In Panruti, Tamilnadu, local RCN crop is being traded at INR 108+ tax and

that of Odisha being INR 105 per kg.

KCMA requested the DGFT to allow rewards at 5 per cent under MEIS

applications for cashew kernel till December 31. It also suggested that DGFT

extend the MEIS for cashew kernels till the last day of the WTO action or till

the introduction of a new incentive programme in its place.

Tanzania

In Tanzania about 62,495 tons of raw cashew nuts deposited in to the

designated warehouses as on November 11th.

According to Minister of Agriculture about 213,000 tons of last season

2018/19 cashews exported out of the 225,000 tons purchased by the

government of Tanzania. About 4800 tons were given to domestic

processors.

Since October 31st, about 50,000 tons have been auctioned with price being

Sh 2450-2700 per kg (USD 1.06-1.17) and the outturn between 48-53 lbs.

USA

The USA has imported 15,518 tons of cashew kernel in Sep-2019 worth USD

111.36 million. This is as against 13,826 tons of kernel imported during

Sep-2018.

In the first nine months of 2019, kernel imports by USA totalled 114,416

tons with value being USD 888 million. This is as against 117,394 tons

imported during the same period in 2018 with value being USD 1140

Million.

Tuticorin FOB Cashew Kernel Price USD per lb –India

Month Grades

W240 W320 LP WS

Oct-18 3.90-4.20 3.65-4.10 3.40-3.55 3.55-3.70

Nov-18 4.10-4.40 3.70-4.10 - -

Volume 20 | Issue 45| Nov 03-09, 2019

Month Grades

W240 W320 LP WS

Dec-18 4.30-4.60 4.00-4.15 - -

Jan-19 4.40-4.55 3.85-4.15 3.15-3.25 -

Feb-19 4.20-4.50 3.60-4.00 - -

Mar-19 4.10-4.25 3.65-3.85 - -

April-19 3.90-4.20 3.50-3.75 - -

May-19 3.90-4.00 3.50-3.60 - -

Jun-19 3.60-3.80 3.30-3.50 - -

July-19 3.70-3.90 3.45-3.60 - -

Aug-19 3.90-4.00 3.50-3.65 - -

Sep-19 3.90-4.00 3.50-3.65 - -

Oct-19 3.90-4.10 3.50-3.65 - -

Nov-19* 3.90-4.10 3.50-3.65 - -

Min-Max 3.60-4.60 3.30-4.20 3.15-3.65 3.55-3.85

*As on Nov 11, 2019

Vietnam FOB Cashew Kernel Price USD per lb

Month Grades

W240 W320 LP WS

Oct-18 3.65-3.90 3.25-3.55 2.85-3.15 3.00-3.40

Nov-18 3.75-4.20 3.40-4.00 2.85-3.10 3.10-3.40

Dec-18 4.00-4.20 3.70-3.90 2.85-3.05 3.15-3.40

Jan-19 4.00-4.20 3.60-3.80 2.75-3.05 3.00-3.35

Feb-19 3.80-4.10 3.40-3.70 2.45-3.00 2.65-3.20

Mar-19 3.80-4.00 3.40-3.60 2.25-2.55 2.60-2.70

April-19 3.45-3.80 3.10-3.40 1.90-2.30 2.35-2.70

May-19 3.45-3.55 3.25-3.35 1.80-2.00 2.20-2.35

June-19 3.40 3.10 1.70-1.75 2.10-2.15

July-19 3.45-3.55 3.25-3.35 1.65-1.80 2.00-2.10

Aug-19 3.55-3.65 3.20-3.40 1.75-1.90 2.00-2.10

Sep-19 3.55-3.65 3.25-3.30 1.75-1.90 2.00-2.10

Oct-19 3.60-3.75 3.25-3.45 1.60-1.75 1.95-2.10

Nov-19** 3.60-3.75 3.25-3.45 1.60-1.75 1.95-2.10

Min-Max 3.45-4.10 3.10-4.00 1.60-3.40 1.95-3.55

**As on Nov 11,2019

Source: Cashewinfo.com

Volume 20 | Issue 45| Nov 03-09, 2019

CASHEW MARKET

COMMENTARIES FROM EXPERTS

The market of cashew nut kernels is stable. Supply and demand in balance. The

big price gap between wholes and pieces remains. It looks like processing origins do

have enough stocks until new crop from Cambodia and Vietnam becomes available.

Counting the number, they are also not under pressure to take the Tanzanian raw

seeds. Auction are going on and product is sold but prices are lower than 2017 and

2018.

Demand for pieces is very slow and processors are having stocks of pieces they

would like to sell. We think that prices for pieces are so attractive at the moment

that one should take their chances and book volumes for whole 2020.

Source: Mr. Kees Blokland, GTA, The Netherlands

No signs of improvement seen from the market, as most of supermarkets are busy

with their sales for X-Mas and New Year demand of which is considered the most

important period of the whole year of operation. Very limited trades were done

during the past week, and to buyers whom urgently need goods for their

commitments with their end- buyers. W320 traded under 3.15 per lb fob for Nov

shipment, sold by medium packers.

BRC packers’ prices were unchanged i.e. W240 at usd 3.60/3.70, W320 at usd

3.25/3.35, WS at usd 2.10 per lb fob for Mar-June shipments and it seems that BRC

certified packers are not in a hurry to sell under said levels. They have contracts to

deliver till end of Jan 2020 of which contracted at good prices when demand was

strong. From what they have been doing are to process and ship on time the signed

contracts. Importers have had enough goods for their buyers and are not in a hurry

to book further quantities when there are no certain demands from their buyers. In

addition to this, the supply of RCN this year is not shortage, New crop from Tanzania

is approaching with a promising OK crop while stock of old crop not yet sold out,

forcing importers not to be at the market to buy. The mood of watching and studying

the situation is there and will perhaps happen in the coming weeks.

China’s demand was weak.

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

Volume 20 | Issue 45| Nov 03-09, 2019

CNSL Market Report

Market CNSL Cake Shells Cardanol

(INR/Kg)

Mangalore 21-23 4.50-4.60 6.50-6.70 51

Courtesy: Mr. Santhosh Silva and Mr. Kanco Venkatesh, Karnataka

The cashew shelling is normal, may be due to demand of kernels from exporters;

the cashew shells have fairly stabilized around INR 6.75 per kg. Cake has moved up

to INR 4.40 per kg and oil is stationary at INR 21.75 per kg. Some Hyderabad

parties have purchased the material but there is no interference from furnace oil

people. As the cardnol is quoted less, there is no chance of price increase in CNSL.

Source: Mr. O.N. Phadnis, Panruti - Tamilnadu

India EXIM Data : September-2019

Cashew kernel exports during Sep-2019 have totaled 4897 tons, with average price being USD 8064 per ton.

Country Qty (TON) Value

(US $ Million)

Benin 18,012.77 22.63

Guinea Bissau 17,995.00 24.35

Cote d' Ivoire 9,847.71 11.40

Gambia 5,911.11 7.91

U Arab Emts 5,612.88 6.59

Singapore 4,326.74 4.88

Guinea 4,234.92 4.45

Senegal 3,646.69 3.92

Burkina Faso 2,388.95 2.38

Volume 20 | Issue 45| Nov 03-09, 2019

Country Qty (TON) Value

(US $ Million)

Others 6,098 6.95

TOTAL 78,075 95.46

US Import Data September-2019

Source-wise import of Cashew Kernels into US : Sep-2019 vs Sep-2018

Country of

Origin

Sep-19 Sep-18 Change in % (Sep-19 vs Sep-18)

Qty

(tons)

Value

(1000 USD)

Qty

(tons)

Value

(1000 USD)

Qty

(tons)

Value

(1000 USD)

Benin 34 292 134 1296 (75) (77)

Brazil 513 3947 395 3,616 30 9

Burkina Faso - - 33 375 - -

China - - 20 215 - -

Ghana 16 117 31 254 (48) (54)

India 587 4,696 692 6,535 (15) (28)

Indonesia 229 1,784 120 1,084 91 65

IVC 166 1,044 209 1,845 (21) (43)

Mozambique 252 1,589 219 1,961 15 (19)

Nigeria 32 237 - -

Thailand 120 1,287 127 1,442 (6) (11)

Vietnam 13555 96,255 11,845 1,02,666 14 (6)

Others 14 109 1 - - -

Total 15,518 1,11,358 13,826 1,21,289 12 (8)

Volume 20 | Issue 45| Nov 03-09, 2019

International Prices of Nuts

Table-1: Cashew Kernel FOB prices in major ports as on 11/11/19

Grades Tuticorin

(USD/lb fob)

Ho Chi Minh

(USD/lb fob)

W240 3.90 - 4.10 3.60 - 3.75

W320 3.50 - 3.65 3.25 - 3.45

W400/450 3.40 - 3.50 3.10 - 3.25

SW320 3.25 - 3.40 -

WS - 1.95 - 2.10

LP - 1.60 - 1.75

Table-2: African Cashew Kernel Price (Estimated for the first half of November-2019)

Grade Description Grade W1-W2, November, 2019

Price/Lbs (L) Price/Lbs (H)

WHITE WHOLES CASHEWS 210 W-210 3.75 3.90

WHITE WHOLES CASHEWS 240 W-240 3.60 3.70

WHITE WHOLES CASHEWS 320 W-320 3.20 3.35

WHITE WHOLES CASHEWS 450 W-450 2.95 3.05

SCORCHED WHOLES CASHEWS 210 SW-210 3.60 3.75

SCORCHED WHOLES CASHEWS 240 SW-240 3.25 3.35

SCORCHED WHOLES CASHEWS 320 SW-320 3.00 3.10

SCORCHED WHOLES CASHEWS 450 SW-450 2.65 2.80

FIRST BUTTS/ WHITE BUTTS FB/WB 2.10 2.25

FIRST SPLITS/ WHITE SPLITS FS/WS 2.10 2.25

LARGE WHITE PIECES LWP 1.85 1.95

SMALL WHITE PIECES SWP 1.50 1.65

CHIPPS CH 1.50 1.65

BABY BITS BB 1.25 1.40

Volume 20 | Issue 45| Nov 03-09, 2019

Grade Description Grade W1-W2, November, 2019

Price/Lbs (L) Price/Lbs (H)

SCORCHED BUTTS SB 2.00 2.00

SCORCHED SPLITS SS 1.90 2.00

SCORCHED PIECES SP 1.65 1.75

Domestic Prices of Nuts Table-3: Cashew Kernel: India spot prices in production centers as on 11/08/19 in INR/kg

Grades Mangalore

(Karnataka) Kollam (Kerala)

Panruti (TN)*

Goa** Jeypore-Odisha

Ganjam- Odisha

Ahmedabad-Gujarat

W180 1100 948 - 1100 - - 1000

W210 950 873 - 1000 850 850 890

W240 825 686 660 840 700 780 740

W320 715 639 570 730 650 700 700

W400 - - - 700 600 - 620

W450 - 595 550 680 - 620 -

W1 - - - 700 - - -

S180 - - - 950 - - -

S210 - - - 840 800 - -

S240 - - - 750 640 - -

S320 - - - - 600 - -

S 625 560 600 680 - - -

LWP 550 538 540 620 500 530 600

SWP 500 419 500 580 450 480 560

K 580 - - 580 540 - 620

JH 650 - - 680 600 550 640

SSW 620 - - 620 - - -

BB 450 529 - 420 - 400 -

JK/JB - - - 700 549 - -

SW - - 510 650 - - 625

Note: * and **, the prices are mentioned without tax

Prices of Nuts in Other Indian Markets Table-4: Cashew Kernel: India spot prices at terminal markets as on 11/09/19 in INR/kg

Grades Delhi Mumbai

W180 1090/1100 1250

W210 970/995 1000

W240 780/830 825/840

W320 660/710 780

W400 - 680

S 570/650 680/700

LWP 550/650 600/620

SWP 480/570 550/575

Volume 20 | Issue 45| Nov 03-09, 2019

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

Grades 11/02/19 11/09/19

Almond Gurbandi (in-shell) 260/265 260/265

Almond California in shell 450/458 450/463

Almond Kernel California 655/660 655/665

Almond Kernel Gurbandi 640/710 640/710

Pistachio Irani 1450/1550 1450/1550

Pistachio Hairati 2100/2200 2350/2450

Pistachio Peshawari 2350/2500 2700/2800

Walnut New 500/650 500/650

Walnut Kernel 900/1250 900/1250

Fig Common 400/475 400/475

Fig Medium 750/800 750/800

Fig Best 975/1100 975/1100

Apricot 175/500 175/500

Kishmish

Indian Yellow 155/190 165/200

Indian Green 212.5/245 220/250

Kandhari New 200/550 208/550

Ranga 188/213 195/215

Dry Dates (Rs Per Quintal)

Red 25000/27000 25000/27000

Rangkat 25000/30000 20000/29000

Currency Impact

Table-6: Currency Movement - FOREX rates in USD

Currency 11-01-19 11-08-19 Wk-on-Wk % Change

Indian Rupee (INR)RBI ref rate 70.88 71.25 -0.52

Euro (EUR) 1.12 1.10 1.35

Japanese Yen (JPY) 108.17 109.27 -1.01

Brazilian Real (BRL) 3.99 4.16 -4.14

Chinese Yuan (CNY) 7.04 7.00 0.59

Singapore Dollar (SGD) 1.36 1.36 -0.12

Tanzanian Shilling (TZS) 2299.00 2300.00 -0.04

Thai Baht (THB) 30.16 30.37 -0.69

Mozambique New Metical (MZN) 62.20 62.50 -0.48

Vietnam Dong (VND) 23200.00 23198.00 0.01

Indonesian Rupiah (IDR) 14030.00 14010.00 0.14

Benin CFA Franc BCEAO (XOF) 586.22 590.00 -0.64

Ghanaian New Cedi (GHS) 5.47 5.50 -0.48

Volume 20 | Issue 45| Nov 03-09, 2019

Indian rupee depreciates as Moody cut the country’s rating to negative

The Indian rupee last week depreciated

and settled at 71.33 against the dollar

after Moody’s Investor Service cut the

country’s rating outlook from stable to

negative, citing growth concerns. Key

economic data such as IIP data, inflation

during this week will be keenly watched

by market participants to gauze the state

of the economy. On the international

front, still there is no clarity on the US-

China trade tariff deal.

Indian rupee during last week was traded in the region of 70.55 and 71.33 and

finally settled at 71.26 against the dollar as on Nov-08-2019. Support is seen in the

region of 71 and then at 70.55-70.35 levels. At the same time 71.50-71.70 will act

as near term resistance.

Brazil real may remain highly volatile

The Brazilian real last week declined

massively, hit by underwhelming oil

auctions and its supreme court decision

to end the mandatory imprisonment of

convicted criminals after they lose their

first appeal. This may benefit former

president Mr Lula da Silva.

Brazil real last week was traded in the

region of 3.9719 and 4.17 and finally

settled at 4.1620 against the dollar as on

Nov-08-2019. As long the key support of 3.95 is not violated on weekly closing

basis, expect real to retest 4.20-4.25 going forward. It is still not clear whether real

will breach 4.20 decisively.

Vietnam dong may continue to remain stable

Last week Vietnamese dong was traded in the region of 23,197.50 and 23,201 and

finally settled the week at 23,198 as on Nov-08. Dong may trade sideways to lower

bias with support is seen at around 23150-23100. Upside is being capped at

around 23250-23300 levels going forward.

Comparative Movement of Currencies Jan-04-2019 to 08-Nov-2019

Vis-à-vis USD in cashew processing regions (Weeks starting from Jan’ 2019

and value indexed to 100)

Volume 20 | Issue 45| Nov 03-09, 2019

Almond and Other Tree Nuts Report

The KIB market closed its trade for the week ended November 9th 2019 in the

range of INR 18400 and 18800/40 Kg, on 70% SS Basis private packers for

Californian NP In-shell's which is equivalent to origin prices of US$ 2.20-2.26/Lbs .

The markets had traded as high as INR 19100/40 Kg. Independence In-shell's from

private packer offers are in the range of INR 17400 and 17800/40 Kg after trading

upto INR 18000/40 Kg, equivalent to $ 2.07-2.12/lbs of origins equivalent prices.

FAQ kernels remained stable with no major buying scheduled through any festival

this week except that the marriage season of the year is in progress, these traded in

the range of INR 665 and 685/kg .

INR has been stable against the USD and closed for the week at 71.37 , with high

of 71.44 and low of 70.51. The currency in the last two days have depreciated

much due to Moody's downgrading of India on its ranking from stable to negative.

Demand has been stable in the initial part of the week but it got depressed in the

second half of the week which increased supplies from the port to markets, forcing

importers to reduce prices to fund pipeline inventories.Further the markets will not

be active till Wednesday next week due to a major religious celebrations on Monday

and Tuesday.

Supplies and offers from California have remained stable where in NP's have been

traded in the range of $ 2.25-2.27 FAS Basis and Independence in the range of $

2.14-2.18/lbs.Many of the packers are withdrawn till the position report of October

is announced on November 12th as they are expecting some excellent Global

shipments probably record breaking which could further push the prices up by 5-

10 cents by next weekend.India has been a cautious buyer till now and this has

Volume 20 | Issue 45| Nov 03-09, 2019

gone in there favour for most of the September shipments, India markets will be

well placed in case India's numbers are around 700 Loads with record global

numbers of around 250 Million.Many of the importers in India are realizing the

fact India's imports were much higher than the consumption and its for California

industry to also ensure that Almond biz is no free lunch, The industry should

support buyers in India who are processors and sellers for Kernels in the regional

markets.

Almond board of Australia had there annual meeting on November 7th at the

Australian High Commission in Delhi followed by dinner with Her Excellency. The

presentation to the importers were made on the expected crop sizes for 2020 and

2021 which will see some phenomenal growth of over 30% than the 2019 crop. The

industry was excited on the crop sizes as this would give them larger participation

in the Asian sub continent.China has been the major buyer in the 2019 crop due to

higher import tariff's on the US Material and Australian industry is well aware that

this could shift any day on the resolution of all outstanding issues between US and

China. Packers and the board officials were also well aware on the quality issues

which have been a stumbling block for its higher share in Indian market where in

the Industry in Australia has been working very hard and spending many million

US Dollars to find a way out of the pinholes issues and remains hopeful of the out

come in the coming crop's.

The price indications by one of the packers has been $ 2.40/lbs for 73 percent on

March/April shipments which was a suitable opening prices.Though many

importers were wary of the quality and quantity from Australia as well as they had

the NP Crop numbers of California on there minds before committing any major

quantities.

It was an excellent presentation of the facts and figures for the coming crops and

an un-usually relaxed interaction between the buyers and sellers presenting there

cases for new crop trades.

Come November 9th the Saturday, California Walnut Commission had there long

awaited interaction with the market leaders at a prestigious Hotel followed by

dinner. It was a great presentation on the opportunities which are untapped in the

potential market of India.The members from California had a great interaction

across the market segments to understand there acceptability of California walnuts

against the Chilean and Indian qualities.

The potential of Indian markets is well getting realized with various origins.

Source: Mr.Ravindra Mehta, IFNO, New Delhi – India

Volume 20 | Issue 45| Nov 03-09, 2019

Health Benefits

Weight loss: These 5 dry fruits are BEST to lose weight

Nuts for weight loss

There can never be enough nuts in your diet. Worthy of the superfood tag, nuts

contain enriching nutrients that fight health issues and provide nourishment. Plus,

they are so easy to munch on!

Are nuts good for you?

This being said, nuts aren't the first thing that come to a weight watcher's mind.

Most people think that nuts, although healthy, contain a lot of bad calories which

make you pile on weight. However, this is not completely true. Infact, adding

certain types of nuts to your diet can actually help you lose weight just a little bit

faster!

Studies have found out that eating nuts regularly may even help people from

putting on extra kilos in the long run and prevent the risk of obesity. Here are five

nuts you should definitely be eating which are great for your waistline.

Almonds: Weight loss or not, almonds are always a welcome addition to the diet.

According to experts, eating almonds every day can lead to greater weight loss,

boost up metabolic rates, fight off bad LDL cholesterol and even cut down on bad

lipid strains. In fact, they are a great investment which can help you get rid of the

lugging belly fat. Weight loss or not, almonds are always a welcome addition to the

diet. According to experts, eating almonds every day can lead to greater weight loss,

boost up metabolic rates, fight off bad LDL cholesterol and even cut down on bad

lipid strains.

Pistachios: There are a number of nutrients present in this green nut! Pistachios

contain abundant vitamins, minerals which help in controlling the blood sugar

levels, antioxidants which actively fight against the extra fat and even boost your

metabolism. All this ultimately speeds up your weight loss.

Raisins: Raisins are an excellent weight-loss snack. Dried grapes contain strong

chemicals that have the ability to curb your cravings. When you eat raisins, it

starts a chemical reaction in your body which slows down your breathing. At the

same time, it also contains powerful neurotransmitters known as GABA which can

stabilize your appetite, slow down digestion and act on stress levels.

Dates: Dates might be comparatively high on calorie content but they contain a

good dose of fiber in them, which eases up digestion and helps in regulating fat

removal from the body. It is also very satiating and makes up for a good snacking

option, aiding your weight loss process.

Volume 20 | Issue 45| Nov 03-09, 2019

Walnuts: Walnuts are not just good for the brain, they are also loaded with

unsaturated fats and certain fatty acids that your body needs. A good nutrient

present in walnuts is ALA, which is an important enzyme that lowers the level of

bad cholesterol, stimulates digestion, regulates the movement of fat in the body,

helping you lose weight faster.

While nuts can make a difference on your waistline in a quick and healthy way, it

is important that you practice of portion control. Ultimately, moderation is the key

to losing weight and seeing desired results.

Source:https://timesofindia.indiatimes.com/life-

style/healthfitness/diet/weight-loss-these-5-dry-fruits-are-best-to-lose-

weight/photostory/71632874.cms?picid=71632875

Volume 20 | Issue 45| Nov 03-09, 2019

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