FruitTrop Magazine n°247
March 2017 edition: Mango close-up. The latest on the date market, berries and sea freight.
- Publication date : 4/04/2017
- Price : Free
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Cashew nut - Q1 2017
- Published on 20/04/2017 - Published by RICAU Pierre
- FruiTrop n°247 , Page From 10 to 10
- Free
Uncertain cyclical conditions for Q1 2017 on the international cashew nut market
Informations
- Product(s) : Cashew Nut
- Rubrique / Thématique : Review and Forecasts
- Country : Brazil , Cote-d'ivoire , India , World
- Keywords : Export , Price , Sales
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Residual stocks are very low in processing countries and consumer countries, after a 2016 marked by disappointing production and dynamic consumption. After a peak in November 2016, the cashew nut price decreased slightly in December and January, because of the slowdown in activities during the end-of-year holidays in the West and the Vietnamese Tet. From early February, the price stabilised at a still very high level. Hence West African governments set very high minimum and indicative prices this campaign: 440 FCFA/kg (as opposed to 350 FCFA/kg last year) the minimum field-edge purchase price for unprocessed nuts in Côte d’Ivoire, 600 FCFA/kg the indicative field-edge purchase price in Burkina Faso and 500 FCFA/kg (as opposed to 400 FCFA/kg in 2016) the minimum price in Benin. Purchase prices to producers have already set new records: more than 800 FCFA/kg in Burkina Faso and more than 6 GHS/kg in Ghana. However, most Asian processors and Western importers remain very cautious, with limited coverage in Q2 2017, since production prospects are very good in West Africa and good in India. According to the “Service N’Kalô” crop monitoring service, West African production could increase by 200 000 to 300 000 t, compared to 2015 and 2016 when it plateaued at 1 500 000 t. If our forecasts are confirmed, the market could see a turnaround in April or May, when the majority of production will reach West African ports, bearing in mind that Ivorian and Ghanaian ports are already saturated with cacao beans. Hence shipping cashew nuts could be a longer and more expensive process than in previous years. Yet export difficulties and a fall in unprocessed nut prices in West Africa could benefit local processors, whose capacities have increased significantly over the past five years, reaching a potential of more than 200 000 t. However, they only processed just over 60 000 t last year, mainly because of very high raw material prices. The local industry could see especially strong growth since West African governments are implementing supportive measures. Following Côte d’Ivoire’s lead from last year, Benin has just announced the implementation of an export tax on unprocessed nuts, which among other things will fund an export premium on locally hulled cashew nuts.
Source: RONGEAD
cashew nut - average monthly price
cashew nut - average monthly price