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 January 29th
, 2018
Currency Movement and Outlook
Health Benefits
News Highlights
Upcoming Trade Events
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK
A WEEKLY NEWSLETTER
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Volume 19 | Issue 05 | Jan 21-27 2018
Global Cashew Market at a Glance
India
Cashew kernel FOB prices continued to remain stable in the last few weeks, with out much change on
either side. Kernel price in the domestic markets for various grades remain stable when compared
with last week.
The RCN crop is progressing well in the key cashew growing states and the first arrivals are expected in
a couple of weeks from now. Now, all eyes on the union budget to be presented on Feb-01, and
cashew industry are eagerly watching out for waiver of import duty on RCN.
Tanzania: The raw cashew nuts deposited into various Tanzanian warehouses totalled 288,978 tons as
of January-27-2018.
Tanzania is estimated to have produced in excess of 300,000 tons during the recently concluded
season, a new record. This is possible due to favorable weather conditions, yield increased due to GAP
and the harvest of new plantations.
Mozambique: In the recently concluded season, Mozambique cashew production was lesser than
initial estimation due to weather anomalies. Mozambique production is estimated close to 100,000
tons as against of last season production of close to 140,000 tons.
West Africa: In general, the weather is so far good in the West African countries. The NCAN has
announced last week that Nigeria’s official cashew season flag off ceremony is scheduled on Jan-31-
2018. In Benin and Cote d’Ivoire, crop is expected to arrive a bit earlier when compared with last two
seasons. Considering the favourable conditions and fruit setting of newly plantations, this year West
African crop is likely to exceed that of last year crop of 1.52 million tons.
Source: Cashewinfo.com
Cashew Market Commentaries from Experts
CNSL update Mangalore-Karnataka
In Mangalore, the CNSL is being traded at around INR 24-26.5 per kg, while cake fetched about INR
4.93-5 per kg and shells about INR 8 per kg. Cardanol is being traded at INR 51 per kg.
Source: Kanco Venkatesh and Santhosh Silva, Karnataka
The market looked a little steadier in recent days perhaps based on Vietnamese processors reaction to
concerns on their crop but also buyers, as another month ends, continuing a relatively conservative
approach covering step by step. Overall crop forecasts in the major producing regions of India and
West Africa are good to very good following on from good crops in East Africa and an improved crop in
Brazil. There seems no prospect at this time of a shortage of raw material in 2018 especially as there
will be some reaction to the much higher prices at wholesale and retail level. However, there was no
fundamental shortage of raw cashew nuts in 2017 either and still the market reacted strongly.
Regardless of whether we think this was justified, an overreaction, a manipulation or just the fruits of
poor market information the fact is that this market can react sharply to relatively small imbalances
either way. Looking at what we know today the prognosis for 2018, Northern crops is positive but the
initial tone will be set in South East Asia as Cambodian and Vietnamese farmers come to market and
Vietnamese processors react. It will also be highly influenced by the crop timing in West Africa which
at this moment is expected early. Looking at the first crops to set the tone – if those crops are good
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Volume 19 | Issue 05 | Jan 21-27 2018
and arrive in time then the market should remain within the current range and the downward
pressure on kernels demand may kick in later. If those crops are poor or even just late despite the fact
they may comprise only a small portion of overall production there may be another volatile season
ahead.
Source: Jim Fitzpatrick
EU and USA market : Kernel supply in the destination countries is tightly balanced, any demand in fact
has a price strengthening effect.
The market of cashew nut kernels is moving up slightly because of limited uncommitted stocks in
Europe and USA. It seems end of the year sales have been good, since buyers are in the market for
relatively nearby deliveries.
Currently, prompt deliveries are fetching an increasing premium in comparison with the origin prices
especially from Vietnam.
Indian kernel prices jumped up much in the past weeks, and the new is that the Indian market is too
empty on RCN, causing the risk of too limited kernels being available, resulting in higher local kernel
prices.
Supply: Currently the supply of RCN has to come from the Tanzanian and Indonesian crop. Both crops
are OK but the prices are high and remain high despite, buyers are working on to lower kernel prices.
Mozambican crop was not so good but most of the Mozambican crop is processed locally anyway.
Processors are awaiting for new crop from West Africa which will start coming in shortly (may be two
to three weeks). The demand for the first new crop is expected to be good, but also we can see that
the availability of the RCN from West Africa will be too late to fill in early demand from India and
Vietnam, resulting in some uncertainty on the direction of the prices when the volume of the crop
comes in.
On the other hand, there are offers from various African traders already, prices based on last year
ending contracts. For example, prices are mentioned for Nigeria product already between Usd 2050-
and 2100 per ton.
Demand: Most buyers are covered for their nearby shipments (1st
quarter) and partly for 2nd
quarter
but they are also awaiting for kernel prices to ease. How realistic is this going to be, will be known in a
couple of weeks. We do not expect big changes in the nearby future unless something dramatic and
unforeseen will happen. World supply should grow slightly while demand is expected to show growth
as well (kernel exports for 2017 compared to 2016 was up slightly).
Consumers so far are not seen to reduce their consumption because of the higher kernel prices,
whereas European consumers of course have an advantage of the stronger Euro now. Kernel
shipments from Vietnam will be down in February because of the TET holidays in February.
Our recommendation would be to be covered until April and watch the market closely from April
onwards. When calculations allow, probably take cover up to 50-60% of your requirements.
Now the focus shifts to all interesting conference (WCC) in Macau next week:
http://www.cashewconvention.com/
Source: Kees Bokland, Global Trading Agency, The Netherlands
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Volume 19 | Issue 05 | Jan 21-27 2018
Market was quiet during the week as prices were higher and buyers could not confirm the offer. To
seller it is reasonable to offer at such levels as they had paid very high prices for RCN, but again most
of the buyers were away from the market. Medium packers traded W240 at usd 4.85, W320 at Usd
4.65 per lb fob and prices offered by top and reliable packers were at Usd 4.95 for W240, W320 at Usd
4.75/4.80 per lb fob for March shipment without being confirmed by buyers. Towards the end of the
week, offers were mainly for end of February and or early March shipment but prices were somehow
higher a little in comparison with traded levels, forcing buyers not to confirm the offer.
RCN prices are still high and offers are being made without being interested by packers. Packers see
no reason to chase RCN at current high level as they can wait till new crop is available. All indications
with regards to new crop are so far ok, with good development. Cashew trees are flowering but it is
too early to say whether Vietnam will have a good crop or not. Very limited arrivals of new seeds
come to the market but the quantity is too small to mention about.
Source: Mr. Kim, Khiem Nguyen Co., Ltd, Vietnam
Chart-1: Cashew Kernel- W320- Average FOB prices at Tuticorin port, India (USD/lb)
Cashew kernel price for various grades remains unchanged when compared with that of previous
week as market is steady.
Raw Cashew Nut (RCN) - Average Price INR per 80 kg bag
The availability of RCN at the local markets was not there and all rely on the imported material.
Moreover the new crop is about to commence in the next three to four weeks time frame, starting
with Maharashtra and Goa.
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Volume 19 | Issue 05 | Jan 21-27 2018
Almond and other tree nuts report
The beginning of 2018 has not been great for Almond markets in India with markets continuing its
slide despite favourable position report, weather conditions, appreciating currency, Zooming Sensex
etc. Khari Baoli market last week closed for trades of NP In shell Almonds at INR 16800-17000/40 kg
for 70 % Sliding Scale for Private Packers (Equivalent to USD 2.28-2.30/Lbs of Origin's prices) and
17300-400/40 Kg for BDG.
FAQ Kernels were bearish and closed at INR 595-600/kg, while handpicked closed at INR 605-610/kg.
Independence Kernel closed at INR 568-572/kg.
Indian currency has been range bound to stable, having traded in the region of 63.99 and low of 63.44
during last week.
The sales have been low with diminishing demand due to security arrangements and holidays on
account of the Republic Day celebrations.
The Californian offers were at couple of cents lower than the last week's offers of USD 2.46-48 on FAS
Basis; Carmel/Price & Monterey were being offers at USD 1.65-1.66 as against USD 1.70/lbs.
During this week WCC 2018 will open its doors to traders, processors and Industry experts in Macau,
for 3 days brainstorming sessions, understanding the cashew market dynamics along with challenges.
Over 450 delegates will be participating in the convention.
Source: Ravindra Mehta, , IFNO, New Delhi - India
Almond Price Chart
Almond Kernel price of California (in Delhi market) during last week traded in the lower region of INR
595 and 600 as compared with previous week as INR 598 and 602 per kg. Cashew W320 traded at
Delhi, last week traded in the region of INR 805 and 825 per kg, unchnaged form previous week level.
Price of Walnut kernel settled unchanged in the region of INR 500 and 900 per kg. Price of Pistachio
Irani during last week traded lower in the region of INR 1080 and 1150 per kg .
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Volume 19 | Issue 05 | Jan 21-27 2018
Prices of Nuts in India and International Market
Table 1: Kernel FOB prices in major ports as on 01/27/18
Grades Tuticorin
(USD/lb fob)
Kollam
(USD/lb fob)
Vietnam
(USD / lb fob)
W240 4.95-5.20 5.15 4.85-4.90
W320 4.85-5.00 4.85 4.65-4.75
W450 4.75-4.85 - 4.45
SW320 - - -
SW360 - - -
SSW - - -
LP/LWP 3.80-3.90 3.80 3.60-3.80
SP/WS 4.50-4.65 - 4.40
Table 2: Cashew Kernel: India spot prices in production centres as on 01/27/18 in INR/kg
Grades Mangalore
(Karnataka -10Kg)
Kollam
(Kerala)
Vetapalam
(A.P)
Panruti
(TN)
Ganjam-
Odisha
Jeypore-
Odisha
Ahmedabad-
Gujarat
W180 9700 926 - - - - 975
W210 9000 860 850 920 900 860 915
W240 8850 802 800 800 850 840 855
W320 8200 785 760 750 800 820 790
W400 7600 - 735 - - 780 755
W450 - 728 - - 750 730
W1 7900 - - - -
S180 9250 - - - - 930
S210 8700 - - - - 820 860
S240 8400 - - - - 810 820
S 7500 728 - - - 745
LWP 7000 683 730 620 700 685 705
SWP 6350 595 640 550 650 560 670
K 7000 - - 670 - 720 720
JH 7850 - 730 710 730-740 750 -
SSW 7350 - - - - -
BB 5200 675 510 400 500 400
JK/JB 7350 - - - - 700 -
SW 7500 - - - - - -
SW320 - - - - - - 745
Prices of Nuts in Other Indian Markets
TABLE 3: Cashew kernel: India spot prices at terminal markets as on 01/29/18 in INR/kg
Grades Delhi Sangrur
(Punjab)
Jalandhar
(Punjab)
Kolhapur
(Maharastra) Mumbai
W180 1085/1090 1020/1030 910/920 1022 1040-1050
W210 970/990 960/970 870/880 913 940-950
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Volume 19 | Issue 05 | Jan 21-27 2018
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
Currency Movement
Table-4: Forex rates in USD
Indian rupee next move will depend on the outcome of union budget
Indian rupee last week gained considerably as
dollar index fell to its three year low. The Union
Budget for FY 2018-19 is going to be presented
on Feb-01 and the economic survey prior to
that. Further move in rupee will depend on the
outcome of budget.
Indian rupee last week traded in the region of
63.99 and 63.44 and finally settled the week at
63.55 against the dollar on Jan-25-2018.
Resistance is seen in the region of 64.10 and
then at 64.26. Support is seen in the region of
63.33 and then at 63.20-62.90. Overall rupee may trade in the broader region of 62.90 and 64.26
levels in the coming one to two weeks time period.
W240 905/910 920/930 780/790 863 875-880
W320 805/825 890/900 820/830 793 810
W400 - - - - 730-740
S 655/760 770/780 - 743 760
LWP 630/745 720/730 - 703 720
SWP 560/670 640/650 - 623 640
Currency 01/19/18 01/26/18 Wk-on-Wk
% Change
Indian Rupee (INR)RBI ref rate 63.72 63.49 -0.36
Euro (EUR) 1.22 1.23 0.82
Japanese Yen (JPY) 110.70 109.41 -1.17
Brazilian Real (BRL) 3.20 3.14 -1.75
Chinese Yuan (CNY) 6.41 6.32 -1.34
Singapore Dollar (SGD) 1.32 1.31 -0.76
Tanzanian Shilling (TZS) 2248.20 2251.10 0.13
Thai Baht (THB) 31.86 31.47 -1.22
Mozambique New Metical (MZN) 59.08 59.59 0.86
Vietnam Dong (VND) 22712.50 22713.40 0.00
Indonesian Rupiah (IDR) 13322.00 13306.00 -0.12
Benin CFA Franc BCEAO (XOF) 536.00 529.50 -1.21
Ghanaian New Cedi (GHS) 4.55 4.55 -0.05
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Volume 19 | Issue 05 | Jan 21-27 2018
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
Brazil real recovered as court ruling against Ex-President Silva
Brazil real appreciated to four month high during
last week boosted by weak dollar and on court
ruling against former president Silva, which upheld
the charges against him on corruption.
Brazil real last week was traded in the region of
3.2431 and 3.1209 and finally settled the week at
3.1509 as on Jan-26-2018. Resistance is seen in the
region of 3.21 and 3.26 levels in the near future.
Near term support is seen in the region of 3.12 and
3.08.
Vietnamese dong may continue to remain stable
Vietnam should be cautious against more monetary accommodation as it could pose risks to the
economy and the banking sector, Moody’s Investors Service said.
Vietnam dong last week traded in the region of 22,724.50 and 22707.50 and finally settled the
week at 22,710.50 against the dollar on Jan-26-2018. Dong may test the lower support of close to
22700-22650 against the dollar going forward. Upside for the time being is capped in the region
of 22750 and 22800 and unlikely to stay higher.
Comparative Movement of Currencies in 2018 (Jan)
Vis-à-vis USD in cashew processing regions (Weeks starts from January’ 2018 and value indexed
to 100)
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Volume 19 | Issue 05 | Jan 21-27 2018
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
Table 5: Other Tree nut and Dry Fruits Prices at the Delhi Market (INR/Kg)
Grades 01/20/2018 01/29/2018
Almond Giridi in shell 125/127.25 125/127.25
Almond Gurbandhi (in-shell) 300 300
Almond California in shell 425/428 425/428
Almond Kernel California 598/602 595/600
Almond Kernel Gurbandi 650/750 650/750
Pistachio Irani 1080/1150 1080/1150
Pistachio Hairati 1438 1438
Pistachio Peshawari 1560/1600 1560/1600
Walnut New 230/320 230/320
Walnut Kernel 500/900 500/900
Fig Common 625/650 625/650
Fig Medium 700/750 700/750
Fig Best 800/500 800/500
Apricot 250/500 250/500
Kishmish (Rs per kg )
Indian Yellow 98/113 98/113
Indian Green 163/200 163/200
Kandhari New 200/500 200/500
Ranga 220/238 220/238
Dry Dates (Rs per quintal)
Red 3500/12500 3500/12500
Rangkat 4500/12500 4500/12500
Health Benefits
Why you should eat almonds every day?
Apart from adding a crunchy taste to your desserts and enhancing the flavour of the otherwise
boring glass of milk, almonds have much more to offer. There are obviously a host of reasons
why we were always asked to eat a handful of these wonder nuts on a daily basis. From
promoting overall well-being to helping you get a perfect complexion, these nuts do it all. And
here’s why you should get munching on them!
Rich in antioxidants-Raw almonds are an abundant source of antioxidants that help protect the
body protect against oxidative stress, which contributes to ageing and cancer. However, as these
powerful antioxidants are largely concentrated in the skin of the almonds, eat them whole to get
the best out of these power nuts.
Lowers blood sugar levels-Almonds are low in carbs, but high in healthy fats, protein and fibre.
Besides, they are loaded with magnesium, a mineral that most diabetics don’t get enough of.
Studies suggest that high levels of magnesium may be beneficial for prevention of type 2 diabetes
and also metabolic syndrome, both of which are major health concerns today.
Improves bone health-Raw almonds are rich in phosphorous, magnesium and calcium, all of
which are good for your bones and teeth. To further promote healthy bones, pair a handful of
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Volume 19 | Issue 05 | Jan 21-27 2018
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
almonds with a bowl of unflavoured yoghurt with your morning oatmeal or just blend them into
your smoothies.
Protects your heart-Studies suggest that eating a handful of almonds on a regular basis can
actually help lower bad cholesterol levels while maintaining your good cholesterol levels. Besides,
snacking on almonds also increases the levels of alpha-1 HDL, the form of cholesterol that helps
promote a healthy heart.
Aids weight loss-Snacking on a few almonds in moderation keeps you feeling full and satisfied for
longer periods, thanks to its fibre, protein and fat content which help curb the urge to overeat.
Studies also suggest that almonds play an important role in reducing the body’s absorption of
calories, thereby making them the perfect weight-loss-friendly snack.
Source: https://www.femina.in/wellness/health/the-benefits-of-eating-almonds-75825-5.html
News Highlights
Cashew industry lowers export goal
Explaining why the sector has cut its export target, Nguyen Duc Thanh, Vinacas chairman, said:
“We haven’t had sufficient domestic material supply, and the prices of imported raw cashews
were too high and sometimes of poor quality.”
Continue reading…
Cashew businesses worry about high price trap in 2018
Although global cashew demand is predicted to continue rising, the Vietnam Cashew Association
(Vinacas) and cashew processors and exporters are worrying about a high price trap which may
affect their activities in 2018.
Continue reading…
Cashew spells cash for Bonda community
Few months ago, they used to work as farm labours to eke out a living. Now, they have become
self-reliant and economically independent.
Continue reading…
Cambodia-: Selecting the best areas to grow cashews
Following an agreement with Vietnam to boost cashew production in the kingdom, the Ministry
of Agriculture has called on all provincial agricultural departments in the country to conduct
studies on the areas that present the best conditions for growing the crop.
Continue reading…
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Volume 19 | Issue 05 | Jan 21-27 2018
CASHEW WEEK CASHEW WEEK CASHEW WEEK CASHEW WEEK A WEEKLY NEWSLETTER
Revenue from cashew nuts will surpass crude oil – Kogi
The Logistics State Commissioner for Agriculture and Natural Resources, Kehinde Oloruntoba has
described the state as the highest producer of cashew nuts worldwide, producing over 100,000
metric tonnes out of the about 200,000 metric tonnes exported last year.
Continue reading…
Government would enhance efficiency of financial sector – President
Government is providing the framework to improve the efficiency of Ghana's financial sector to
enable it play an effective role in promoting economic growth, President Nana Addo Dankwa
Akufo-Addo has said. He said an effective and efficient financial system was a prerequisite for the
transformation of Ghana’s economy to a modernised and industrialised one focused on value
addition.
Continue reading…
Cashew production increases slightly in Ivory Coast in 2017
Cashew nut production in 2017 was 673,238 tonnes, up 3.6% from 2016, according to a
statement by Zoro Bi Jean Christophe, responsible for the quality of cashew nuts. He added that
the price of cashews averaged FCFA 700 per kilo in 2017, well above the field price of CFAF 440
per kilo set at the beginning of the season.
Continue reading…
The quality of cashew at the center of an awareness session in Bondoukou
An awareness session on Good Agricultural Practices related to the quality of cashew was held on
Friday in Bondoukou (North-East, Gontougo region) at the initiative of the Cotton Council and the
cashew.
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 1
st-3
rd
February 2018 MACAU
Gulfood 18
th- 22
nd
February 2018
Dubai World
Trade Centre
INC XXXVII World Nut and
Dried Fruit Congress May 21-23, 2018 Sevilla, Spain
Summer Fancy Food Show
30 June - 02 July 2018
New York
City, USA
ACA Annual Cashew
Conference & Expo 2018
- Cote d'Ivoire
The 10th
VINACAS Golden
Cashew Rendezvous Hanoi-
Halong Bay
September-2018 Hanoi-Halong
Bay
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Disclaimer: The data and information presented in this report are based on efforts of analysts at Foretell Business Solutions Private
Limited, Bangalore and opinions and data obtained from experts and various industry sources. While sufficient care has been taken to
check data and information prior to publishing, Foretell or its employees or external contributors will not be responsible for any kind of
errors or omissions or misrepresentation of data or for losses incurred by any party either directly or indirectly based on the information
published herein.
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