Source: Trade

ACA MeetingACA MeetingBenin - Sep 2006Benin - Sep 2006

Global Cashew Global Cashew ScenarioScenario

OriginOrigin ProductionProduction

(MT ‘000)(MT ‘000)

IMP/EXPIMP/EXP

(MT ‘000)(MT ‘000)

ProductionProduction

(‘000 (‘000 ctn))DomesticDomestic

(‘000 ctn)(‘000 ctn)

ExportExport

(‘000 ctn)(‘000 ctn)

South (Sept-Jan) of Prev. YrSouth (Sept-Jan) of Prev. Yr

BrazilBrazil 245245 00 2,4502,450 (200)(200) 2,2502,250

E. AfricaE. Africa 165165 (140)(140) 250250 00 250250

Indonesia+Indonesia+ComboCombo

dia, Thailanddia, Thailand115115 (110)(110) 5050 00 5050

North Feb-JuneNorth Feb-June

IndiaIndia 360360 580580 9,4009,400 (4,000)(4,000) 5,4005,400

VietnamVietnam 300300 8585 3,8503,850 (40)(40) 3,8103,810

W. AfricaW. Africa 425425 (415)(415) 100100 00 100100

TOTALTOTAL 1,6101,610 00 16,10016,100 (4,240)(4,240) 11,86011,860

World Cashew Production 2005

Source: Trade

West Africa -- leading RCN producer . . .

OriginOrigin ProductionProduction

(MT ‘000)(MT ‘000)

IMP/EXPIMP/EXP

(MT ‘000)(MT ‘000)

ProductionProduction

(‘000 (‘000 ctn))DomesticDomestic

(‘000 ctn)(‘000 ctn)

ExportExport

(‘000 ctn)(‘000 ctn)

South (Sept-Jan) of Prev. YrSouth (Sept-Jan) of Prev. Yr

BrazilBrazil 245245 00 2,4502,450 (200)(200) 2,2502,250

E. AfricaE. Africa 170170 (140)(140) 300300 00 300300

Indonesia +Indonesia + 115115 (110)(110) 5050 00 5050

North (Feb-Jun)North (Feb-Jun)

IndiaIndia 360360 584584 9,4409,440 (3,800)(3,800) 5,6405,640

VietnamVietnam 300300 9090 3,9003,900 (40)(40) 3,8603,860

W. AfricaW. Africa 435435 (424)(424) 110110 00 110110

TOTALTOTAL 1,6251,625 00 16,25016,250 (4,040)(4,040) 12,21012,210

World Cashew Production 2006

Source: Trade

…with India leading in kernel production.

’06 vs ’05 exports up 2%- 3%.

Source: Trade

World Cashew Usage

North America

50%

Europe29%

Asia / Other21%

N.A. continues to be the major user

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Pe

an

uts

Ca

sh

ew

s

Mix

ed

Nu

ts

Pis

tac

hio

s

Tri

al

Mix

Alm

on

ds

Se

ed

s

Ma

cs

Pe

ca

ns

Oth

er

US

Sn

ac

k N

ut

Sa

les

Value %

Quantity %

U.S. Snack Nut Sales

Source: AC Nielsen Last 52 wks ending April 29, 2006

Most popular tree nut in Snack Category but…

-10

0

10

20

30

40

50

Feb-

05

Mar

-05

Apr

-05

May

-05

Jun-

05

Jul-0

5

Aug

-05

Sep

-05

Oct

-05

Nov

-05

Dec

-05

Jan-

06

Feb-

06

Mar

-06

Apr

-06

% C

hang

e vs

PY

Cashew Snack Demand Almond Snack Demand

Snack Category Growth: Cashews vs Almonds

Feb’05-Apr’06

Source: AC Nielsen Last 52 wks

…cashew growth rate went negative Oct’05

15

20

25

30

35

40

45

Fe

b-0

5

Ma

r-0

5

Ap

r-0

5

Ma

y-0

5

Ju

n-0

5

Ju

l-0

5

Au

g-0

5

Se

p-0

5

Oct-

05

No

v-0

5

De

c-0

5

Ja

n-0

6

Fe

b-0

6

Ma

r-0

6

Ap

r-0

6

% C

ha

ng

e v

s P

Y

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

Do

llars

Pe

r L

B

Almond Snack Demand

BS Price Lagged 6 months

Source: AC Nielsen Last 52 wks

Almond Snack Category Growth vs Market Price

Even with record prices, almond demand is still strong…

-10

-5

0

5

10

15

20

Fe

b-0

5

Ma

r-0

5

Ap

r-0

5

Ma

y-0

5

Ju

n-0

5

Ju

l-0

5

Au

g-0

5

Se

p-0

5

Oct-

05

No

v-0

5

De

c-0

5

Ja

n-0

6

Fe

b-0

6

Ma

r-0

6

Ap

r-0

6

% C

ha

ng

e v

s P

Y

$2.00

$2.10

$2.20

$2.30

$2.40

$2.50

$2.60

$2.70

Do

llars

Pe

r L

B

Cashew Snack Demand

W320 Price Lagged 6 months

Cashew Snack Category Growth vs Market Price

…while cashew prices and demand decreased

Thank YouThank You