THE CASHEW MARKETTO DATED AUGUST 22
The world cashew demand can be recovered in 2-3 weeks: (SOURCE Financial Express-PT)
The cashew market still is quiet in last week some processors start buying in this week according to trade source.
The India local market is bleak but most of processors are ready to wait because they do not enough raw materials at the moment
the demand from wholesales can be started in 2-3 weeks
the price of raw cashew nut is stable. The price of IVC and Ghana is at 1,275-1,400USD/T and Guinea Bissau is at 1,700USD/T.
There is normal for the next crop in India.
Raw cashew Nut:
- In VN: the price is from 41,000VND- 42,000VND / (1000VND/T increased compared to the last week)
- The statistic from Jan to Aug 17: (informed by the authorities) 42,676Thas been imported in the first 17days of August equal to 92.7% of the same period of last month, the total volume imported is 244,6T from the beginning of this year (54.3% of the plan for this year). The price is 1,200-1,650USD/T original from IVC
- In international: according to World Times News (20/7/11): the raw market is stable with the buying from big processors. The high quality is attracted. The quarter IV/2011 is depended on crop and price of raw cashew nuts of the southern sphere as well as the contracts delivered at the end on 2011 and the beginning of 2012.
- The raw nut from India has been reduced (especially white kernels) according to trade houses in Mumbai market. All will be concentrated in the crop 2011 of South regions .In the middle of September the crop of Indonesia and the situation of crop in Brazil will be considered. In the middle of October, the market is waiting for the information from the crop of Tanzania.
- At the moment, the raw nut from West Africa is the only supply for the entire world. The Vietnamese and Indian processors do not have enough raw nuts for processing to the next crop. This causes the ability of high price due to tight supply. The price will depend on the market in September –October and the 2nd crop in Brazil.
- According to Commodityonline.com: India has the plan to double production in 3 years. The government has planned to increase the production from 613T to 1,3mil T before 2013-2014.the main purpose is India can be supplied itself. The specialists have suggested using diversified technology in planting, developed processing…
Cashew kernel and sub-production:
-Vietnam: rather quiet, the price is little lower in small processors. However, the buyers are not interested.
The statistic of July (MARD): estimated 15,000T cashew kernels exported with the turnover of 130mil.USD in July and 8,000T cashew kernels in 15 days of August with some new markets in Arabic as Syria, UAE. Up to August 15th the total volume exported is 91,300T equal to 60.8% plan of the year 2011.
- India: According to Hindu Business Line (16/8/2011): the market is quite quiet.
According to Business Standard (17/8/2011) the volume of exporting to America is reduced 29.4% from 42,694T in crop 2007/2008 to 30,100T in crop 2010/2011. In this period, Vietnam has replaced India to become the biggest exporter in America market thanks to compete price. Explaining for this event, Mr. Giridhar, one exporter from Mangalore, said that India has diversification of the exported markets to 65 markets; West Asia and Japan are main imported markets. Beside that raw nuts are big problem because India can process 1,8mil raw nuts but India has only 500,000T and has imported 700,000T.And the competition of Vietnam and Brazil in importing raw nuts (Vietnam can import 325,000T and Brazil 40,000T)
- Japan: (According to World Trade Info): in 1st half of 2011, Japan has imported 3,054T cashew kernels of various kinds with the value of 24.8mil.USD, mainly 2,621Tfrom India with average price 8,135USD/T, 398T with the average price of 7,334.7USD/T from Vietnam.
- Brazil: (According to World Trade Info): in the 1st half of 2011, Brazil has exported 14,528T cashew kernels of various kinds with the value of 119,8mil USD, In July Brazil has exported 2,199T cashew kernels of various kinds with the value of 20,7mil USD, 47.7% reduced in quantity and 8% in value compare to July 2010. The main markets are America with 1,497T in United States and 143T in Canada…This exported volume of Brazil is rather low equal to 15.5% of the volume of Vietnam.
- America: (According to World Trade Info):in 5 months of 2011, Unites States has imported 43,127Tcashew kernels of various kinds with the value of 334,2mil USD, increased 1.3% in volume and 45% in value compare to the same period of last year. In that, the volume imported from Vietnam is biggest with 17,725T, next is India 15,218T, Brazil 8,244T, Thailand 300T.
U.S is the biggest market of cashew kernels.
Other news: According to World Times News (20/7/11): the price of cashew kernels will be stable at high price to the end of year. The market of the recent weeks is rather quiet; there are little buyers and also little sellers .Some demand low grades but there is no supply except Vietnam
- According to Hindu Business Line: the storage of cashew kernels is low in imported countries and the buyers will continue to buy for their operation. Due to high price, the buyers only buy with the small volume. The raw nuts coming ports of India and Vietnam is very slow and some sellers delayed, default the shipments or discussed again the price. Although this situation is not affected to the cashew kernel supply to end of this year but affected to the price if the contracts cancelled and buyers who need the cargoes must buy with the high price.
It is too early to say the situation of 2012.
-(source allafrica.com 20.8.11): Kenya has quick pushed the yield of cashew trees. Due to worse yield of last year with production of 6,000T compare to 14,000T of 4 years before, the government has decided the program to recover the production