CASHEW WEEK. In the Cashew Week... A WEEKLY NEWSLETTER. A Product of. NewsHighlights. Cashew Market Commentaries from Experts

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1 A Product of In the Cashew Week... Cashew Market Commentaries from Experts VINACAS Conference Highlights Indian Cashew Market Commentaries International Cashew Market Commentaries DCCD Conference Highlights NewsHighlights India Ex-Im Data for the month of Oct 2016 Upcoming Trade Events Almond Report Prices of Nuts Domestic Prices of Nuts International Prices of Nuts

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6 Volume 17 Issue 46 Nov 6-12, 2016 Cashew Market Commentaries from Experts India In India higher demonetisation currency notes of INR 500 and INR 1000 was banned (will not be legal tender) since Nov 8th midnight, announced by the Indian PM Mr Narendra Modi in his televised address to the nation. About 86% of the currency in circulation is of high denomination. The decision was taken to curb the menace of black money and warned many more actions to follow in the coming days. Due to non-availability of cash to transact business, all commodity trading activities in the markets came to a standstill since Nov 8th. It will take some more time for the return of normal flow of currencies to some extent as the government is constantly monitoring the situation and taking necessary steps to ensure ease of cash flow. Normal flow of currencies in to the system will take two to three weeks as ATM machines needs to be recalibrated so as to match size of new INR 500 note and the denomination of INR 2000 note. So in the short term normal business of cashew is likely to be affected and prices may tend to fall. The Directorate of Cashew Nut and Cocoa has celebrated its 50th year of establishment in Goa during last week (please refer page no-8 for highlights). RCN imports in the first ten months of 2016 declined substantially to 679,110 tonnes as against 88,453 tonnes imported during the same period in Overall Indian RCN import in 2016 is estimated in the region of 760,000 and 780,000 tonnes. The cashew kernel figures in the first ten months of 2016 was also not encouraging and going by the current rate, exports are projected to drop towards 75,000 to 80,000 tonnes in In the first ten months exports came in at tonnes as against 94,259 tonnes exported during the same period in Cashew Kernel W320 FOB Tuticorin traded at a new record high of USD per lb during last week. Imports of RCN may show upward bias going forward as rupee is expected to depreciate further. Vietnam-VINACAS Highlights The 8th Vinacas Golden Cashew Rendezvous was held in Da Nang, Viet Nam during last week. About 300 delegates attended the event, of which, 55% are foreign firms from over 30 countries across the world. According to Nguyen Duc Thanh, chairman of Vietnam Cashew Association (Vinacas), before, the issue of food safety and hygiene posed only to the manufacturing sector, now Vietnam has put into the whole chain, including processing facilities, packaging, labour, machinery and equipment etc., Mr Nguyen Duc Thanh said that climate change alters the output in both Vietnam and Africa (falling), along with consumer demand for the world increased every year due to known health benefits from the dried seeds, including individual offers. But this situation leads to many problems of trade disputes between Vietnam enterprises with businesses that sell raw cashew from Africa. 6

7 Volume 17 Issue 46 Nov 6-12, 2016 During this season trade disputes also increased significantly this year, due to sharp fluctuation in raw cashew prices, which meant those who signed contracts to sell at the start of the season, were unable to fulfil them. Moreover, "Some Vietnamese importers have been guilty of failing to study the market or their partners, and not being diligent while negotiating and signing contracts," he said. Companies need to have a strategy to develop raw material sources, and be more careful about importing raw nuts, he said. The association would work with African countries to persuade them to refuse export quotas to firms not fulfilling their contracts with Vietnamese firms, he said. The association listed specifications for raw cashew nuts and displayed samples of purchase contracts. Vietnam and African countries like Ivory Coast and Nigeria discussed ways to boost co-operation in cashew trade. Mr. Ranjeet Wallia, President and Chief Operating Officer Chi Commodities Handlers Group (Canada), said that the consumption of world's cashew is growing manifold in recent years, thanks to the research done by the scientific community on the nutritional nuts, which are widely publicized on the media. Particularly in the US market, Mr. Ranjeet Wallia said, from 2010 to now, consumer demand for cashews here has grown 53%, is consumed more nuts 2nd after almonds. Mr. Bach Nhut Khanh, deputy director of the Superintendence (unit assessment of Vietnam's largest crude), said this year, the import of raw cashew from Africa quality significantly reduced compared to Joseph Lang, managing director of Kenkko House, one of Europe s largest dealers of nuts and dried fruits, said: The growth of the cashew market in Europe over the last three years has been tremendous with Europe now representing around 25 per cent of cashew exports from Vietnam and having growth by well over a third over the period. Currency Indian rupee declined sharply to settle well above 67 against the US dollar on domestic currency demonetisation of 500 and 1000 rupee notes and on unexpected electoral outcome in US. Expect rupee to retest close to 68 levels going forward and in case sustain above that on this month close, then expect rupee depreciation to continue. Nigeria currency naira early today appreciated against the USD in both interbank and parallel market, due to raids on forex dealers who are selling above the government prescribed ceiling during last week. The Mexican currency peso, the world worst performing currency in 2016 has fallen to record lows after Trump's election and on fears that he may look to decrease trade and build a wall between the two countries, while also deporting millions of people living illegally in the United States. Source: Cashewinfo.com Vietnam There is no sign of downtrend from the market as prices are stable especially for the whole grades. W240 traded at USD 5.25/5.30, W320 at USD 4.65/4.70, sold by reliable packers. Medium- sized packers offered prices were at the same levels, but with no buyers. Top and reliable packers offered few cents per lb higher compared to the levels traded. Limited offers have seen for Jan Mar

8 Volume 17 Issue 46 Nov 6-12, 2016 shipment, but buyers were not ready. There is no certain demand for next year shipment yet as prices of kernels are at historic highs, too high for manufacturers/roasters. Sales for offshore markets are limited and demand of pieces continued to drawdown. Most of the grades traded this year so far are whole grades while limited sales done for LP and SP and even WS. This might indicate a downward bias of pieces in the coming time as packers do have pieces in their stores and they tend to offer at high prices. Some quantities of pieces have done at reasonable prices. Let us see how the demand unfolds for pieces going ahead. Prices of imported RCN from local market are eased a bit as demand is sluggish. Packers feel that there is no parity between the kernels and Rcn price, so they are very much reluctant to confirm the offers. China is expected to come back to buy in big quantities in the coming week to meet its Chinese new year deamnd. If that happens market will get amuch needed lift. Source: Kheim, Vietnam Mozambique Cashew harvesting is now on full swing in Northern Mozambique. Quality of cashew is good, Nut count up to 180 and average out turn 46 lbs. The farm gate price is 75 Meticais per kg. The current local currency rate is around 78 Meticais against 1 USD. This year apart from Local processing Plants and Indian traders, we are seeing Chinese and non-cashew industrial buyers. Chinese and Non Cashew Industrial buyers are accumulating stock to export to have access of Precious Foreign Exchange to run their local Import business. RCN export is still not open, hopefully will open once local processors accumulate enough stock for their plants. A minimum 18% of cess (at the minimum export price 1,800 usd per ton) is implied by Government authorities on RCN export. Source: Dinesh Singh Please visit for weather report. Highlights of DCCD National Conference themed Production to marketing, to commensurate 50 th year of its establishment The Directorate of Cashew nut and Cocoa Development, which is celebrating its golden jubilee (50 th ) year of its establishment had organized The National Conference on Cocoa and Cashew, themed Production to Marketing during November 7-8, 2016 in Panaji, Goa, Mr R K Srivatsava, Chief Secretary of Goa inaugurated the conference. Others on the inaugural session were Mr P Sundaran, CEPCI Chairman, Dr Venkatesh Hubballi, Director, DCCD, Dr S K Malhothra, Agriculture and Horticulture Commissioner, Government of India, Dr Vasudev Prasad, VC, UAS- Shivamoga, Dr Gangadhara nayak, Director, DCR-Puttur, and Mr Ulhas B Pai Kakode, Director of Agriculture, Goa. In his inaugural speech, the Chief Secretary of Goa Mr RK Srivatsava said that there are a lot of challenges in the cultivation of cashew and cocoa as the particular field is not a technology driven field, where there are turnkey solutions. The government support for such cultivators is important, and hence the Goa government has extended minimum support price for their crops, Srivatsava added, pointing out that if other states follow the same path, then it would provide a boost to their cultivators. 8

9 Volume 17 Issue 46 Nov 6-12, 2016 Dr S K Malhothra highlighted about the PFBY (Pradhan Mantri Fasal Bima Yojana), which covers the farmers from the risk of crop failure due to impact of climate change, diseases etc., Under this scheme so far 35,00,000 ha of area has been insured. But in horticulture only 3, 00,000 ha is insured under this scheme. We need to educate/make farmers aware of the scheme and its benefits. Dr Malhotra further said that pulses are also the priority area of the central government. Mr P Sundaran, Chairman of CEPCI, spoke about the lack of availability of good quality materials by the Indian cashew industry. African supply may wane over a period of time as they too have started processing cashews on a large scale. Dr Vasudevappa, VC of UAS-Shivamoga highlights that mango being replaced by cashew on a large scale. Arecanut plants are dying year after year, which requires more water, which could be replaced by cashew in Shivamoga district. Last year, we intended to promote one lakh hectare of land under cashews, but we couldn t achieve the same due to drought. Mr Walter D Souza, MD, Fernandes Brothers headed the first technical session with other panelists being Dr M Tamil Selvan, Additional Commissioner (Hort), Govt of India and Dr B Dhananjay of KVK, Bramhavar. The director of DCCD Dr Venkatesh Hubballi, in his welcome address, said that in the year 1966, when the directorate was established, only 2.40 lakh hectares area in the country was brought under cashew cultivation, with the annual production of the crop being one lakh metric ton, at that time. Raw cashew nut which fetched INR 30 per kg is currently quoted at INR 169 per kg, and he is of the view that cashew is the crop of the future. The DCCD vision is to promote cashew and cocoa so as to improve socio and economic conditions of small and marginal farmers and to achieve self sustenance. Some of the future strategies for the next decade include massive replanting programme, expansion of area under traditional and nontraditional areas and to organize intensive thematic campaigns and to train farmers. Ensure private participation with government support to ensure proper implementation of technologies at the field level. Also to monitor and educate proper post harvest management and processing with value addition. Dr M Gangadhar Nayak spoke about the technology options for enhancing cashew production. Senile and low yield plantations are to be replanted with high yielding seedlings. Over 200 lakh cashew grafts are produced annually. He also highlights about some of the high yielding varieties which are under evaluation such as H-43, H-66, H-68, H-125 and H-126. Pruning of cashew results in improved yield performance. Drying of flowers and fruit drop in cashews under drought conditions are to be checked by adapting to proper soil and water conservation techniques. Intercropping in cashews with pineapple, Tapoica, Turmeric, Ginger, Elephant foot yam, Chillies, Brinjal, will minimize the losses; conserve soil and moisture and higher net returns. By adopting suggested technologies options in cashew cultivation, it is expected that the production of raw cashew nuts in the country can reach 2.5 million tonnes by 2030, owing to self-sufficiency in raw cashew-nut production and realizing doubling of farmer s income. 9

10 Volume 17 Issue 46 Nov 6-12, 2016 Photo 1 (LHS)Mr S K Malhothra, Mr P Sundaran, Dr Gangadhar Nayak, and Dr Venkatesh N Hubballi Photo 2(RHS) Dr Venkatesh Hubballi, Dr M Tamil Selvan, Mr Walter D Souza, and Dr B Dhananjay Mr Ulhas B Pai Kakode, Director of Agriculture of Goa, presented on the current status of cashew cultivation in Goa. Cashew is the main commercial crop of Goa with GDP of INR 256 crores. Cashew feni is distilled from fermented juice extracted from the cashew apple and is a popular alcoholic beverage in Goa. Feni is also Goa s first Geographical Indication (GI) product and it is also the first liquor in the country to obtain the GI status. Dr R K Bhoodes, Vice- Chairman of CEPCI, presented on the road map on cashew production in India By 2025 Indian cashew production is forecasted around 900,000 tons, considering at a CAGR of 3.4 percent per annum. At the same India cashew processing demand is forecasted at around 22, 00,000 tons by 2025, at CACR of 5.3 percent per annum. The gap between production and processing is about 300,000 tons. Dr Bhoodes suggested measures to overcome the shortfall, by the way of increasing the area by 25 percent in the next three years. Also replace 80% of the existing old and senile trees, starting with 20% from 2020 onwards (i.e., 200,000 ha). Moreover increase the pre-harvest yield up to 80% by 2019 by promoting drip-irrigation, adequate manuring, and control of pest and disease management, technical know how from the field officers and effective implementation through cashew producers society/shg. Mr Prakash Kalbhavi, Ex-President of KCMA spoke about Indian Cashew Industry and Government policies. Mr Kalbhavi projected India s cashew requirement at 3 million tons by 2020, of which domestic production is estimated at 0.9 million tons and India is likely to import around one million tons. Thus the projected shortfall is of 1.1 million tons. On the government polices the focus should be on to improve the productivity level. He also wants of abolition of APMC on RCN to improve farmer s realization, roll back of customs duty of 5% on RCN imports, to develop a model for cashew apple utilization and to establish a cashew broad to monitor production. Mr Giridhar Prabhu of Achal Industries is of the view that India needs to scale up its RCN production to two million tons by He wants minimum support price for famers to be announced at INR 125 kg for for fully dried RCN ex farm gate. Minimum yield potential has to be doubled to 1400 kg per ha. 10

11 Volume 17 Issue 46 Nov 6-12, 2016 Mr Rajendra Sabat emphasizes the need for financing the cashew value chain by banks and NGO s at an affordable rate. Govt. should establish R & D Centres for new technology for automation in cashew processing and by-product utilization. (The conference highlights will be continued in the next issue dated Nov ) Fig 1: Cashew Kernel- W320- Average FOB prices at Tuticorin port, India (USD/lb) Cashew kernel price for FOB W320 continued its strong upward bias and traded in the region of USD 4.80 and 4.90/lb, posted a new record high since August As the peak demand season is almost over, market participants unwilling to commit big contracts and they are buying only hand to mouth for their short term requirements. Moreover currency demonetisation may signal probable top at least in the near term. Fig 2: Raw Cashew Nut (RCN) - Average Price INR per 80 kg bag 11

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13 Volume 17 Issue 46 Nov 6-12, 2016 Almond report- California and New Delhi The week starting from November 7th 2016, has been an eventful week globally, which has impacted millions and millions of Lives. To start with, In USA people voted for Presidential Elections on Tuesday i.e. 8th of November and surprisingly chose Mr. Donald Trump as their 45th President over Mrs. Hillary Clinton, already we have started seeing divisions in the American society with many communities fearing for there own reasons, Yesterday The President Elect announced to deport 3 Million Illegal Immigrants with criminal backgrounds. Next, in comes as a Financial Surprise from Prime Minister of India on 8th of November when he announced demonetization of INR 500 and INR 1000 currency notes with immediate effect as making them illegal tenders. 86% of the total value of money in circulation is of these demonetized currencies, Causing Confusions, Chaos and financial emergency across the nation. Since November 10th the entire population seems to be standing in bank queues to exchange, withdraw or deposit money. In one master stroke the hoards of black money stashed in Cash of INR 500/1000 currency notes has been wiped out of the system. It's the boldest and most courageous step ever taken at least in my life span by any government to wipe out corruption from the system; I think every Indian needs to give a standing salute to our Prime Minister and the banking employees for the unrelenting endeavour in this noble cause of making India corrupt free country. As every action has an equal reaction... On short term (Not Sure about the time frame) the economy is going to suffer heavily, as there is no money on the system to support cash transactions. India at the moment has 89% of all its transactions as Cash only and to move towards a cash less economy we still have to go a long way by making financial/banking system inclusive for all, Its a process which has to include making of Identification Certificates ( Aadhar, Pan, Voters ID etc...), Open Bank accounts ( Till 2015 India had only 310 Million Bank accounts out of 1.27 Billion of population), and most importantly need to impart to basic education for them to operate physically or digitally. The common- man or the AAM ADAMI has got its impact in a major way as he has all his savings or other wise were in these high currency notes. Further many of the wholesale markets especially of commodities have remained non operational since November 8th as there is no money to transact, There is a sense of confusions on the payments receipt for the Diwali sales. I personally think our markets i.e. of Dry Fruits and other niche commodities will take good amount of time to return back or even come closer to normalcy, as only incremental and disposable money/income is only spent on our commodities. Last but not the least, Almond s position report for the month of October was announced on this 8th of November only. The shipment numbers were what every one was waiting for with Million Lbs worldwide which is 45+% higher than the last year,ytd are Million in just three months of CY 2016 (+41%), India with only 509 containers of In shells and 15 containers of Kernels was 82 Million YTD though these numbers as compared to last year October are 63.7% higher but look more desirable if compared to August & September 2016.The Diwali sales have been beyond expectations and accordingly it is being assumed that more 1400 containers out of 2000 odd containers got 13

14 Volume 17 Issue 46 Nov 6-12, 2016 liquidated with much of demand coming out for Almonds due to its affordable prices and shift in preference of nuts from Cashews to Almonds largely due to price gap between both these competing nuts. It has been proved once again that these are price elastic commodities and even with all odds we can have phenomenal sales/ consumption's if the prices suit common man's pockets. Unfortunately the markets as stated earlier have remained closed (means SHUTTERS DOWN) in Delhi's Kharo Baoli area and no physical business has got transacted. Though the mood as well as sentiments would have been upbeat but the pressure to change, exchange, deposit - withdraw and availability of the money have forced to down the shutters. For sure the markets are going to suffer both in short term and long terms as there is non availability of disposable income in pockets of consumers and the consumer is going to spend on his staple/essentials than to spend on niche. Post Diwali the marriage season was being considered as the main driver of sales for Dry Fruits, but due to demonetization, all most all marriages have got impacted and accordingly our sales. Its a difficult situation as on date, but will surely have a good and a sound business atmosphere going 1 year from here on till then the consumption, sales all will go down and accordingly payments will get delayed for the entire supply chain. It s time to wait and watch for the things to unfold going forward. Source: Ravindra Mehta, International fruits and Nuts Organisation, New Delhi 14

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16 Volume 17 Issue 46 Nov 6-12, 2016 Prices of Nuts in India and International Market Table 1: RCN spot prices in India in USD/tonne except India origin which is in INR per 80 kg bag Origin 10/31/ /08/2016 India, local Odisha (INR per 80 kg bag) Ghana (USD per tonne CNF) Tanzania (USD per tonne CNF) 1647(2015/16 * crop) Guinea Bissau (USD per tonne CNF) Burkina Faso (USD per tonne CNF) Ivory Coast (USD per tonne CNF) Indonesia (USD per CNF) 1961 * Mozambique (USD per CNF) * * Benin (USD per CNF) Guinea (USD per CNF) Gambia(USD per CNF) Senegal(USD per CNF) Togo (USD per CNF) * * Nigeria (USD per CNF) Mali (USD per CNF) * * Madgaskar (USD per CNF) * * Cango (USD per CNF) 1796 * Indian RCN price at various Unit Rs per kg Unit Rs per kg markets Mangalore * * Goa * * Kollam * * Panruti * * Jeypore Ratnagiri * * Kolhapur * * Bandha * * Kankouli * * Note: Indian imported price landed at various ports- Min, Avg and Max during that period (excluding tax). Table 2: Kernel FOB prices in major ports as on 11/11/16 Grades Tuticorin(USD/lb fob)* Kollam(USD/lb fob) Vietnam(USD / lb fob) W W W SW SW SSW LP/LWP Ws

17 Volume 17 Issue 46 Nov 6-12, 2016 Table 3: Cashew Kernel: India spot prices in production centres as on 11/11/2016 in INR/kg Grades Manglore(Karnataka Kollam(Kerala) Vetapalam(A.P) Jeypore(Odisha) Ganjam(Odisha) Goa W W W W W W W S S S S LWP SWP K JH SSW BB JK/JB SW Prices of Nuts in Other Indian Markets TABLE 4: Cashew kernel: India spot prices at terminal markets as on 11/11/2016 in INR/kg Grades Delhi Sangrur(Punjab) Jalandhar(Punjab) Kolaphur(Maharastra) Mumbai W W W W W S LWP SWP Currency Movement Currency 11/04/ /11/2016 Indian Rupee (INR) Euro (EUR) Japanese Yen (JPY) Brazilian Real (BRL) Chinese Yuan (CNY) Singapore Dollar (SGD) Tanzanian Shilling (TZS) Thai Baht (THB) Mozambique New Metical (MZN) Vietnam Dong (VND) Indonesian Rupiah (IDR)

18 Volume 17 Issue 46 Nov 6-12, 2016 Benin CFA Franc BCEAO (XOF) Ghanaian New Cedi (GHS) Indian Rupee Rupee came under pressure as US elects Donald Trump as the next president, contrary to market expectations. Also Indian PM s demonetization of higher value noted notes to curb black money also put further pressure on the rupee. India s IIP for September grew at 0.7%. The dismal show is mainly due to decline in manufacturing sector, which recorded a low growth of 0.9% in September compared to 2.7% growth a year ago. Indian rupee last week traded in the region of and and finally settled at on Friday. Next resistance is seen in the region of and and only above to depreciate further. At the same time Rupee is getting consistent support at current level around Overall rupee is likely to remain under pressure in the coming one to two weeks time period. Brazil Real Brazil real declined sharply despite intervention by its central bank on concern over the election of Donald Trump as new US president. Trump pledges tax cuts and heavy public spending, which may lead to inflationary concerns, and to result in more rate hike by US FED in the coming months. As we rightly pointed our real depreciated sharply during last week. Brazil real last week traded in the region of and and finally settled at on Friday (11th Nov). Resistance is expected to remain in the region of 3.45 and At the same support is seen at levels going forward. Vietnam Dong A report by the State Bank of Vietnam (SBV) shows that percent of the credit has been poured into real estate, securities and consumer sectors in the first half of the year. These are also sectors which have seen the highest credit growth rate compared with the same period (27.5 percent) last year. Vietnam dong last week traded in the region of VND and VND and finally ended at on 11th t November. Vietnam dong is expected to trade in the broader region of and going forward. 18

19 Volume 17 Issue 46 Nov 6-12, 2016 Comparative Movement of Currencies in 2016 Vis-à-vis USD in cashew processing regions (Weeks starts from January 2016 and value indexed to 100) 19

20 Volume 17 Issue 46 Nov 6-12, 2016 Table 6: Cashew kernel: Africa spot prices as on 11/11/2016 in USD/lbs Grade description Grade Price White Wholes Cashews 180 W White Wholes Cashews 210 W White Wholes Cashews 240 W White Wholes Cashews 320 W White Wholes Cashews 450 W Scorched Wholes Cashews 210 SW Scorched Wholes Cashews 240 SW Scorched Wholes Cashews 320 SW Scorched Wholes Cashews 450 SW First butts/ White Butts FB/WB First splits/ White Splits FS/WS Large White Pieces LWP Small White Pieces SWP Chipps CH Baby Bits BB Scorched Butts SB Scorched Splits SS Scored Pieces SP Table 7: Other Tree nut Prices at the Delhi Market (INR/kg) Grades 11/4/ /11/2016 Almond Giridi in shell 137.5/ /140 Almond Gurbandhi in shell Almond California in shell 395/ /400 Almond Kernel California 580/ /585 Almond Kernel Gurbandi 725/ /825 Pistachio Irani 1100/ /1200 Pistachio Hairati 1210/ /1325 Pistachio Peshawari 1425/ /1530 Walnut New 290/ /440 Walnut Kernel 800/ /1450 Fig Common 300/ /375 Fig Medium 500/ /550 Fig Best 625/ /750 Apricot 450/ /800 Kishmish (Rs per kg ) Indian Yellow 70/ /112.5 Indian Green 125/ /275 Kandhari New 300/ /450 Ranga 187.5/ /210 Dry Dates (Rs per quintal) Red 2700/ /12000 Rangkat 4000/ /14000 Raisin- Sangli * 20

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23 Volume 17 Issue 46 Nov 6-12, 2016 EX-IM Data of Indian Cashew Market for the month of October

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25 Volume 17 Issue 46 Nov 6-12, 2016 Indian Cashew kernel exports- Destinationwise 25

26 Volume 17 Issue 46 Nov 6-12, 2016 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 swapna@fbspl.com or talk to Swapna at News Highlights Tanzania: Cashew Market in Turkey Begs for Supplies Tanzanians can benefit from lucrative cashew nut market in Turkey which begs for more supplies of the popular snack, a Turkey Embassy official has said.mr Onur Tekyildiz, the Commercial Attache in the Embassy of Turkey, told the 'Daily News' in Dar es Salaam Continue reading Royal Cashews 15th outlet unveiled at WTC Royal Food Marketing Company unveiled its 15th Royal Cashews outlet at the World Trade Centre (WTC) in Colombo. The occasion was graced by the company s Managing Director Dr. Ruwan Wathugala. Royal Food Marketing is a leading Cashew processing company in Sri Lanka that caters to local and export markets. Continue reading 26

27 Volume 17 Issue 46 Nov 6-12, 2016 Long Rest for Cashew, Dry Fruits and Costly Items in India The ban on the circulation of Rs.500 and Rs.1000 denomination notes has reduced the cash flow in the Indian retail sector. Consumer is purchasing groceries, vegetables, medicines and other needs as he gets only Rs worth of change per week. Continue reading Govt support to farmers has reaped benefits Panaji: Stating that farmers employed in the business of cashew cultivation need nothing but government support, chief secretary R K Srivastava said on Monday that the minimum support price given by the state has reaped positive outcomes in the cultivation of the crop Continue reading Australia continues to build almond trade Speaking at the Australian Almond Conference in Melbourne yesterday, Rabobank USA s senior vice president and senior analyst, Vernon Crowder, predicted Australia would contribute around 8.5 per cent of the global almond crop by 2020, up from 7 per cent currently. Continue reading California Pistachios Are Set For Record Year Last year was a slow one for pistachios, with only 275 million pounds produced. Because pistachios are alternate-bearing [tendency for an entire tree to produce a greater than average crop one year and a lower than average crop the following year], last year s disappointing crop allowed the trees to rest before producing this year s estimated record crop. Continue reading Cashew weekly printed Edition is promoted in the following events Event Name Date of Event City / Country SIETTA November 2016 Abidjan, Côte d'ivoire 3 rd World Cashew Convention February 2017 Singapore Gulfood 26 th Feb -2 nd March 2017 World Trade Centre, Dubai 27

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29 Volume 17 Issue 46 Nov 6-12, 2016 REACH OUT TO GLOBAL CASHEW INDUSTRY ADVERTISE IN & For Advertisement in Cashew Week "Do you have an interesting story to share with us on cashew value chain (in your region/country), innovation, processing, technology, financing or any topic related to cashew industry? If yes, write & Banner Space on CONTACT: to us at 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. Caution to Readers Although paid advertisements appear in this publication (in print, online, or in other electronic formats), Foretell Business Solutions Private Limited (the owner of cashewinfo.com) does not endorse the advertised product, service, or company, or any of the claims made by the advertisement. Readers are encouraged to do the necessary due diligence. However, in the interest of the industry, please share your concerns, if any, by writing to us at 29

30 Export Trading Group East Wing Index Tower, DIFC Area, Dubai, United Arab Emirates UAE - Ph: Mob: , Fax: cashew@etgworld.com, Web: