Indian cashew exports to touch new high this fiscal

KOCHI: Indian cashew exports have reached a new high of Rs4,624 crore, surpassing last year's figure, with one more month to go in the fiscal 2014.

The possibility of exports touching Rs5,000 crore is not ruled out as the exporters could send more shipments in the last month. In 2012-13, cashew exports stood at Rs4,420 crore, which was the highest till now. The fall in rupee value during the year has helped in raising the total value of cashew exports.

Though the volumes have been down in certain months, the value has remained high. For instance in February 2014, the quantity of cashew export is lower by 12per cent at 7,009 tonne. However, the value is up by 6 per cent at Rs315 crore.

The total quantity, too, has almost reached the level in 2012-13 at 1,09,958 tonne at the end of February 2014. In the previous year the total quantity exported touched 1,10,306 tonne.

Higher exports have been achieved despite a 14per cent drop in raw cashew imports at 7,32,478 tonne till the end of February 2014. "Rising prices of raw cashew imported from Tanzania in the last few months have led to slowdown in processing, squeezing the export volumes. As a result many processing factories in Kerala have stopped working,'' said P Somarajan, proprietor of Kailas Cashew Exports. The raw cashew price has eased after touching a high of over $1,400 per tonne.

The raw cashew from east African countries has been traditionally dearer than those from the west African regions, where the harvest has begun. "But this time the prices have been high at the start of the season at $1,150 per tonne. It has declined by $100 now, but is still high,'' he added. India imports 8 to 9 lakh tonne of raw cashew every year.

While the raw nut price remains high, the cashew kernel price has been hovering in the range of $3.15 to 3.20 per pound, a factor which has been worrying the exporters.

"At the price we have been buying raw cashew, we should be getting a minimum of $3.40 per pound. But Indian exporters have been compelled to export at the above price, the rate at which Vietnam, the major supplier in the global market now, sells,'' said Babu Oommen, proprietor of Alphonsa Cashew Industries. Some processors, who had stock of raw cashew nuts from the previous year with them made a killing by selling to other processors. Better domestic production at over 7 lakh tonne helped the exporters to tide over the lower imports to a certain extent.

Source : economictimes.indiatimes.com

Cashew Nuts Seasonality

Cashew season extends from March to June in India and Viet Nam. In Brazil, the crop is harvested during November - February. The following calendar shows the cashew seasonality in different origins. 

 

(Source: cashewinfo.com)

Vietnam's cashew nut exports down 20 percent

Vietnam's cashew trading in the first two months of this year declined as increased prices of raw material for cashew nut caused difficulties for companies in production and exports, Xinhua reported. A report by Vietnam's Ministry of Agriculture and Rural Development shows that the country imported 28,000 tons of raw cashews at USD36 million in the first two months.

The figure represents a 36.4 percent decreased in volume and a 20 percent decreased in value when compared to the corresponding period a year before. The US was the largest importer of Vietnamese cashew nuts accounting for 20 percent of the total. China came next at 20 percent of total cashew nut exports.

Source: http://cashewnews.blogspot.in/

Vietnam's cashew nut trade down on raw material price hike in first two months

HANOI, March 5 (Xinhua) -- High import prices of raw material for cashew nut has brought difficulties for Vietnam's companies in production and exports, causing declines in the commodity's trading in the first two months of 2014.According to a report by Vietnam's Ministry of Agriculture and Rural Development, Vietnam imported some 28,000 tons of raw cashews worth 36 million U.S. dollars in the first two months, down 36.4 percent in volume and 20 percent in value year-on-year.Meanwhile, Vietnam earned 169 million U.S. dollars from exporting 28,000 cashew nuts in the first two months, down 0.1 percent in volume year-on-year.

The United States, China and the Netherlands remained Vietnam's large cashew nuts importers during the period, accounting for 26, 20 and 9.8 percent of Vietnam's total export revenue of the commodity, said the ministry.Nguyen Duc Thanh, chairman of Vietnam Cashew Association ( Vinacas), said on Vietnam Industry and Trade Information Center's website on Wednesday that import price for raw cashew stays at over 1,000 U.S. dollars per ton, 150 to 200 U.S. dollars higher than that of 2013.

If Vietnamese companies imported raw materials at that price for export processing, they will suffer from loss, said Thanh, adding that these companies should prioritize on buying domestic raw materials for production demand.According to Vinacas, in 2014, Vietnam's export revenue of cashew nuts, shell oil and processed cashew nut products is forecast to hit 2.2 billion U.S. dollars.In order to realize the target, Vietnam must import some 650, 000 tons of raw cashews from West Africa, East Africa and Southeast Asia as domestic cashews output is estimated to be 350, 000 tons.

In 2013, Vietnam imported some 651,000 tons of raw cashews worth 621 million U.S. dollars, up 96 percent in volume and 83 percent in value year-on-year, Vinacas statistics showed.Vietnam pocketed 1.66 billion U.S. dollars from selling 264,000 tons of cashew nuts to world market, up 13 percent in volume and 19 percent in value year-on-year. If included shell oil, and processed cashew nut products, the total export revenue of Vietnam 's cashew sector hit 1.9 billion U.S. dollars in 2013, said Vinacas.

Source: http://www.shanghaidaily.com/