SALTED ROASTED CASHEW NUT ABLE BRAND

News

Market news in 23rd March 2016

* Raw market in Vietnam

Cashew's season proceed normally, it continued in process. Domestic price of raw cashew rise slightly today than yesterday, but both quantity and quality are reduced, as follows:

 

Province/city

Grade, quality (

purchase at big agent on the material).

Today's sale price (23/3)

(VND/ kg)

Compare to yesterday's price (22/3)

(VND/ kg)

Bình Phước (Đồng Xoài, Phú Riềng)

Cashew fresh (earned kermel 28 - 30%, 170 - 160 seeds, loss after drying 16 - 17%).

Đồng Xoài: 31.500 - 32.000

Phú Riềng: 33.500 – 33.700  

+500

3 sun dried Raw cashew (Cashew kernel>30%, 180 - 170 seeds).

39.000 - 39.500

+500

Đồng Nai (Trảng Bom, Xuân Lộc)

Fresh cashew (earned kernel <30%, cashews pretty clean stalk, fewer impurities)

32.800 - 33.000

+300

Lâm Đồng (Cát Tiên, Đah Tẻ, Đạ Huoai)

Fresh cashew (earned kernel 28 - 30%, 160 - 150 seeds, Loss after turnings 15 - 17%)

33.500-34.500

+500

3 sun dried cashew nuts (earned kernel 30 - 31%, 170 - 165 seeds)

39.000-39.500

+500

Campuchia (Border gate in Binh Phuoc)

3 sun dried cashew nuts (earned kernel 29 – 30%, 195 - 190 seeds)

36.500 - 36.800

const

3 sun dried cashew nuts (earned kernel 31 - 32%, 190 seeds)

38.000 - 38.500

const

* News from Ivory Coast

According to CTV VINACAS in Ivory Coast, the crop still occur normally and continue to cover services. This week raw cashew new cases of Abidjan and San Pedro ports of Ivory Coast rather than the past week. Some shipments have been scheduled ships to Vietnam and India. Scheduled departure (ETD) from 17 to 30th March 2016.

 Same Vietnam domestic price Ivory Coast is still high. Prices yesterday ranged from 580-620 FCFA / kg (equivalent to about 0.99 to 1.06 USD / kg) purchased at the port. However, the quality raw cashew back down, now only 49 Lbs recovered, mostly, except for goods from Bondoukou are still 50-51 Lbs.

 USD / CFA franc also strong fluctuations, yesterday 22/3 USD / CFA = 584, while 29th Febuary is 600. The CFA exchange rate strengthened against the dollar unfavorable to raw cashew exporters that Ivorian rough.

 However, for the exporters, freight rates fell this year due to falling oil prices, now only 600 USD / cont 20 "and $ 1,000 / cont 40" is also a significant advantage because the majority of contracts signed under CFR or CIF mode

 In every transaction and control in the Ivory Coast has a lot of new companies to appear, but unprofessional in the field of raw cashew. Currently businesses, brokers, employees check the quality of raw cashew Vietnam is very much present in Abidjan accidentally competitive pressure on the market, is not conducive to the importers of raw cashew Vietnam.

 The forecast will continue to Abidjan more in the coming days, especially after the holidays and weekends. Inventories in the industrial zone and the port will increase as the company 28th March holidays (Easter Monday)

* New from Nigeria

According to Vietnam some businesses just returned from Nigeria, the crop still occur normally and continue. In the recent few days, Nigeria appears to unseasonal rains but farmers are very good for flowering crop and the 2nd phase of Nigeria after prolonged dry spell. The first crop forecast for 10 days ending and season 2 will start from 15th April forward.

 The heavy rains have however also do some importing enterprises cashew nut that Vietnam and India worried by the quality of raw materials can be reduced quickly in the near future due to Nigeria lack of jute bags serious , the goods contained in the pineapple or nylon sacks can seriously affect the quality of the raw materials arrive in Vietnam.

 Same the Ivory Coast, Nigeria raw cashew market with the participation of many foreign traders, especially from India and Vietnam. Therefore, it farmgate prices in Nigeria have been pushed close to the farmgate price of the Ivory Coast this year (between 240 - 250 NGN / kg equivalent of 800-830 USD / Mt) according to data from ACA dated 8th March 2016.

Furthermore, the local currency Naira of Nigeria is also having problems with the USD / Naira constantly changing in recent times, caused many difficulties for enterprises exporting its raw cashew.

In addition, the banking system of the country is also facing certain difficulties. Costs for local banks discounting export documents under L / C at sight can be up to 20-30 USD / Mt raw cashew according to information from customers

In return they also enjoy certain advantages from international freight fell.

 * Markets International almonds

 According to one major importer of Vietnam almonds, almond prices since 3rd quarter last year to 1st Quarter of this year continued to decline, Standard (23/25 Nonpariel Almonds kernel) is priced at the top in May 8/2015 at a price of 5.10 USD / lb and then slipping without brakes, currently at $ 2.6 USD / lb Almonds nuts heading dry, potentially replacing the cashew, almond prices fell so deeply in recent years according to the importers is very worrying. Refer to import almonds prices from August 2015 to now: 

Aug,15

5.1 USD/lb

Oct,15

4.8 USD/lb

Dec,15

4.2 USD/lb

Jan,16

3.4 USD/lb

Feb,16

2.8 USD/lb

Mar,16

2.6 USD/lb

 * News in Indian:

According to collaborators from India, there are no new actions taken by the Government on the adjustment of import tax reduction raw cashew (are at 9.36%), despite opposition from many organizations and individuals workers in the major.

 However in the near future free trade agreements ASEAN - India (signed in 2009) could be a solution for importing enterprises raw cashew and kernels in the country. The abolition of tax (0%) to approximately 4,000 product lines, including cashews will be undertaken early in 2016 according to information from India. This may be news to many Indian companies are looking to invest and import it from Vietnam.

 Source
VNACAS

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