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Cashew Industry optimism after the "storm" rates

 

Bonanza - News

From 11/08/2015 exchange rate between the Yuan and the world's major currencies have strong fluctuations; besides the timely adjustment of the exchange rate of the State Bank, some experts assess the industry quite fortunate because this time is not the peak of the year imports of raw materials. The adjustment of the exchange rate USD / VND last clear benefit cashew exporters than importers of raw cashew. About theoretically, if the price is maintained in the second quarter and the fourth period / 2015, the companies may have benefited little from the exchange rate from USD to VND.

But cashew kernel exports through the Chinese market in particular, according to experts is likely to encounter little difficulty in the last five months of 2015, because according to Chinese buyers for some local border this country recently increased domestic taxes on cashews to 13% and the Government of China devalued the Yuan if they do not adjust the domestic price or seek to reduce the purchase price down, they can be heavy losses. But the plan to increase the domestic price may seem more digestible because buying service round Mid-Autumn Festival has started and inventory levels in China is relatively low according to records.

Last week, in Vietnam, trading on the cashew kernel market is still in normal . It seems the "currency war" not affect the demand for it from customers, particularly the North American group, EU, Australia. Refer to individual export prices from Vietnam to North America, EU, Australia today: (Unit: USD / lb FOB Tp. HCM): W240: 3.65 to 3.72; W320: 3.45 to 3.6; W450 / SW / LBW320: 3.25 to 3.35; DW: 3.15 to 3.25; WS / WB: 3.15 to 3.25; LWP: 3.0 to 3.1.

According to enterprises in Binh Phuoc, from early to May 8/2015 up to 2/3 small and medium processors here have been closed because of all materials. Forecasts from March 2016 service to the adjacent 9/2015, production and export of cashew processing of Vietnam is greatly reduced compared to March 8/2015.

In India, the traditional date of 18/8/2015 Onam festival of India took place and lasted for 10 days in Kerala - this can be seen as "pushing" the Indian cashew industry demand Consumption usually increases in this occasion. Since most large processing plants in Kerala this year had difficulties, marketed volumes seem not abundant than usual. The selling price has increased significantly so compared to the previous, standard type WW320 (Premium) sold for 9.4 to 9.45 USD / kg. Demand for goods tank (LWP, SP) increased sharply.

The source: Vinacas

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