zinizta:


your thoughts are a bad omen to yourself

E pain am. Pls use this and end it already

I don't get it.
was there not an agreement before exporting?

Governordeb:

You are 100% right. That was the exact same tin i was thinking. You mean the supplier and the buyer did not conclude on the price before the product left Naija? Na wa o

The quantity 37,000 Mt sounds preposterous! That's about 3 shiploads!

I'm sure it's probably 1% of that figure

BeiFangLaye:
With this I bet agriculture would soon take over

It's already taking over
I kw how much I make in a month from my agriculture, ,,,i have a university degree and a poly degree and also a programmer so, ,,,just get ur armor prepared

vladimiros:
I don't get it.

was there not an agreement before exporting?

Dats wat am also thinking right now
,,,,dat is d worst type of business I hate, ,,after suppling then u will start negotiating d money, it's very annoying

No body trust Niaja again. Even Vietnam��� Anyways wetin I know sef.

Vietnam don't want to do business with Nigeria.... they should stop criticising the price of cashew......

how can one go about exporting this Nigerian hibiscus flower and Shea butter

Govt should soft pedal so that it won't be a waste of resources exporting it back to Nigeria.

[quote author=Mcreloaded post=74902176]Before the cashew left Nigeria for Vietnam did the supplier and buyer not negotiate the price.
This is the first time in my life I am hearing that a product is being rejected by a buyer after being supplied because if high price.
Or is it me that did not read the post well?[/
you are quietly right but in other way, i think maybe they have the actual price they buys it before, they thought it would still be the same but Nigeria exporters didn't notify them for the increase in price so they had to reject it.

Mcreloaded:
Before the cashew left Nigeria for Vietnam did the supplier and buyer not negotiate the price.
This is the first time in my life I am hearing that a product is being rejected by a buyer after being supplied because if high price.
Or is it me that did not read the post well?

you are quietly right but in other way, i think maybe they have the actual price they buys it before, they thought it would still be the same but Nigeria exporters didn't notify them for the increase in price so they had to reject it.

Mcreloaded:
Before the cashew left Nigeria for Vietnam did the supplier and buyer not negotiate the price.
This is the first time in my life I am hearing that a product is being rejected by a buyer after being supplied because if high price.
Or is it me that did not read the post well?

They are just sparring with words.

FreddyKruger:


E pain am. Pls use this and end it already

Ok

specter:



Have you considered the fact that Nigeria might be the one seeking emerging market for her agricultural products just like the market woman at oyingbo or mile 12 market who goes to interior market to buy wares to resell at the aforesaid said Lagos market.

Perhaps it was us who is forcing it and who is creating the demand for the product and not Vietnam who needs and craves for the product per say.

Hence we took it to them and not them coming here to get it which is the angle you are seeing things from cos that's how it ought to be.

But then again who be Nigeria when fit muscle such power when we have a shity economy when when we have good products.

International commerce doesn't play like that sir. Sometimes in international commerce, your responsibility to your buyer may even end at your own end where you make the agreed product in the agreed quantity available for the buyer to load(example of how our crude oil is sold). Again, at those points, nobody is discussing prices anymore. No international trade will you ship your wares first before you start your price negotiations with your buyer.

T

kross01:

International commerce doesn't play like that sir. Sometimes in international commerce, your responsibility to your buyer may even end at your own end where you make the agreed product in the agreed quantity available for the buyer to load(example of how our crude oil is sold). Again, at those points, nobody is discussing prices anymore. No international trade will you ship your wares first before you start your price negotiations with your buyer.

Thanks for the education. I ma go do further reading on international trade just in case you are wrong. Thanks once more.

Yes now... Too expensive... When they can get it cheaper from Uganda

Group blames speculators for rejected 37,000 tonnes of cashew

The Federation of Agricultural Commodity Associations of Nigeria has heaped the blame for the rejection of 37,000 tonnes of Nigerian cashew by Vietnamese buyers, on Nigerian and foreign produce merchants, who engage in speculative buying in the Nigerian produce market.

The President, FACAN, Dr Victor Iyama, disclosed this to our correspondent on Thursday.


Iyama said people were in the habit of rushing to the market and just paying any price on produce, no matter how high.

He equally blamed foreigners who come into the Nigerian market and overprice the produce because they wanted to get ahead of the competition.

He said,”It is a lesson for us that we should not just rush into the market and buy at any price we see, and escalate prices in the process.

“The government needs to check the influx of foreigners into the Nigerian produce market. They come in because they have money and the moment they see somebody pricing produce, they go ahead and offer to pay a higher price. Eventually, the produce price becomes very high locally.”

The Deputy Executive Secretary, FACAN, Mr Peter Bakare, had explained that 37,000 tonnes of cashew exported from Nigeria to Vietnam were rejected because of high price of the commodity.

He said that the price volatility was due to the lack of conducive business environment that had made the price of raw cashew from Nigeria to be higher than the price of finished product in the international markets.

He said, “The banks in Vietnam that usually provide the loans to their buyers for purchase complained that the prices of the finished products are less than the price of raw materials.

“The Vietnam financial institutions, therefore, backed out of the business, stressing that it is not a profitable venture for its farmers, so the produce are stuck in Vietnam now,’’ he said.


On what next for the exporters, Iyama responded that the expectation was towards the next cashew season which would be February.

He said, “I am advocating that more of our cashew should be processed and consumed locally. Also, we should sell more of the processed ones instead of raw cashew.”

He pointed out that cashew was not on the terminal market, and so the price was subject to negotiation.

“People can renege on the contract they made with the sellers, giving all kinds of excuse. They can say, for instance, that the shipment came late, especially with the situation we are currently experiencing at the ports.”

On the estimated loss to the operators, Iyama said it could not be determined yet, adding that in the new season, it would be possible to assess what was sold and leftover, as well as the profit and the losses.

fatytoy333:
Group blames speculators for rejected 37,000 tonnes of cashew

The Federation of Agricultural Commodity Associations of Nigeria has heaped the blame for the rejection of 37,000 tonnes of Nigerian cashew by Vietnamese buyers, on Nigerian and foreign produce merchants, who engage in speculative buying in the Nigerian produce market.

The President, FACAN, Dr Victor Iyama, disclosed this to our correspondent on Thursday.


Iyama said people were in the habit of rushing to the market and just paying any price on produce, no matter how high.

He equally blamed foreigners who come into the Nigerian market and overprice the produce because they wanted to get ahead of the competition.

He said,”It is a lesson for us that we should not just rush into the market and buy at any price we see, and escalate prices in the process.

“The government needs to check the influx of foreigners into the Nigerian produce market. They come in because they have money and the moment they see somebody pricing produce, they go ahead and offer to pay a higher price. Eventually, the produce price becomes very high locally.”

The Deputy Executive Secretary, FACAN, Mr Peter Bakare, had explained that 37,000 tonnes of cashew exported from Nigeria to Vietnam were rejected because of high price of the commodity.

He said that the price volatility was due to the lack of conducive business environment that had made the price of raw cashew from Nigeria to be higher than the price of finished product in the international markets.

He said, “The banks in Vietnam that usually provide the loans to their buyers for purchase complained that the prices of the finished products are less than the price of raw materials.

“The Vietnam financial institutions, therefore, backed out of the business, stressing that it is not a profitable venture for its farmers, so the produce are stuck in Vietnam now,’’ he said.


On what next for the exporters, Iyama responded that the expectation was towards the next cashew season which would be February.

He said, “I am advocating that more of our cashew should be processed and consumed locally. Also, we should sell more of the processed ones instead of raw cashew.”

He pointed out that cashew was not on the terminal market, and so the price was subject to negotiation.

“People can renege on the contract they made with the sellers, giving all kinds of excuse. They can say, for instance, that the shipment came late, especially with the situation we are currently experiencing at the ports.”

On the estimated loss to the operators, Iyama said it could not be determined yet, adding that in the new season, it would be possible to assess what was sold and leftover, as well as the profit and the losses.

Hmmm I still can’t believe that anyone will ship a whole container of raw agriculture product without agreeing on price or down payment.

CAN YOU DELIVER TO LAGOS WAREHOUSE AT A VERY COMPETITIVE PRICE?......

Hello Cashew Nut suppliers,

We are taking RCN 2020 crop in our Lagos Warehouse.

Supplier should take note of this specification:
Moisture not more than 10%
KOR - 48-50+lbs
NC- 190+


Payment on delivery after weight inspection and quality testing.

For Price confirmation...
Please call: 08037171978
08077881934 (WhattApp)

2020 season loading..... we want 100 trucks of dried raw cashew nuts ...53+ kor, 160-175 nut count...payment immediately @ delivery to Lagos Warehouse....serious suppliers only!... call 08037171978, 08077881934 (whatsapp)