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US Pistachio Exports To China Grew 7% Despite Trade War

Posted on September 11, 2020September 11, 2020Categories Trading News

American pistachio growers like Jim Zion prepared for the worst last year when the nut was caught up in escalating U.S. trade tensions with China, with potential tariffs as high as 45%.

“We were concerned that with the trade war, we would see a drastic reduction in shipments,” said Zion, managing partner at Meridian Growers in Fresno, California. “China is one of our biggest markets.”

But that did not happen. US pistachio exports to China rose 7% to a record 108 million pounds in the crop year through August, according to the Pistachio Management Committee, and another 10% in the six months thereafter. It turns out that a bit of luck, the second largest producer, Iran, had a poor harvest, along with China’s big appetite for pistachios, sustained demand, price threats and all.

“Chinese consumers really want these nuts and the United States has them,” said Roland Fumasi, an analyst at RaboResearch. “They don’t have a lot of options. That’s what is driving this.”

The new tariffs on pistachios were announced in April as part of China’s retaliation against President Trump’s taxes on steel and aluminum, and additional taxes were announced in June that raised the potential tariff rate by as much as 45 percent, in compared to only 5% originally.

But with the nut a popular gift for the holidays like Chinese New Year, shoppers haven’t cut back their demand from the US, the world’s largest supplier. About two-thirds of U.S. pistachio shipments went to international markets last year, with China and Hong Kong the largest customers by far.

There could also be more at stake, including the lower-than-expected fees being charged. With China and the US still in talks about the possibility of ending their trade war, China has rolled back some US-specific agricultural tariffs. China may not be charging the full tariffs either as talks continue on a possible agreement. Chinese President Xi Jinping said Thursday that the two sides had “reached a new consensus” on issues such as the text of a trade agreement, according to Xinhua. Trump said a deal was likely weeks away.

Surprise

There is also some confusion about how to classify some types of pistachios, giving exporters of roasted nuts an advantage. According to Richard Matoian, CEO of American Pistachio Growers, roasted pistachios were supposed to be among the highest tariffs, but due to a clerical error, they didn’t get the brunt.

Zion, the producer, said it also received reports that, in some cases, Chinese tariffs that buyers there would be responsible for paying have not been applied. The roundtrip rounds of tariffs and drawbacks have left exporters confused, but pleased that the full tariff does not appear to have been met in many cases.

“Either it has been a blessing, or we have been extremely fortunate that it all happened when it happened and how it happened,” Matoian said. However, “the future remains invisible.”

If Iran’s harvest recovers, or if China starts charging the same tariffs on all pistachio imports, U.S. farmers could have a bad awakening. If that happens, Chinese purchases are likely to decline this year as importers look to alternative sources.

Popular Protein

That could hold back an industry that has come a long way since the mid-1970s, when fewer than 5,000 acres in California produced the first crop. In the past four decades, pistachios and other nuts have been transformed from savory snacks into healthy protein-rich foods, and production has increased. Now America’s pistachios is a $ 1 billion industry with more than 330,000 acres.

Casino Games Which Will Make Your Entertainment Buzz With Mystery

Posted on October 8, 2020October 10, 2020Categories Trading News

Games are played to have some entertainment and fun. However, there are games, which are played to earn money are known as casino games mmc996 online malaysia. In these games, players ought to gamble their chips on many variable results or either combination of results. These games can also be played apart from the casino. Places such as school competitions, parties, etc., have such games for entertainment purposes. There are various types of casino games, which are generally categorized into three: table games, random ticket games, and electronic gaming machines, https://www.mmc33.com/my/en-us/.

Table Games:

Table game is used to differentiate games such as Craps, Roulette, Blackjack, and Baccarat. These games are played in revolt towards the casino and are engine by more than croupiers. Such games have gained popularity and are the hearts of casino gambling. There can be legal gambling but some are also seen playing privately whilst maintaining certain regulations. There are variances when it comes to table games. Many countries only permit slot games and no table games.  This is because; table games can lead to fraud handling of money in the casino. Nevertheless, there is a security that makes sure to prevent such situations. 

Random Ticket Games:

Such games are particularly chance games where one has to randomly select a random number from a number generator or from equipment, which is used for gaming. Such games can be played on the table like roulette or by buying tickets such as bingo. There are random number generators available, which are made by a 3rd part company. These generators help to create a series of random numbers in a matter of milliseconds. However, the software work on algorithms and are hack-able theoretically. There are no cases of swindling in random ticket gambling games. 

Electronic Gaming Machine:

An electronic machine can also be known as a slot machine, which is a popular gaming area in the casino. It is an excellent gambling mechanism, which makes a random game of chance for their players. Slot machines can be collectively known as one-armed burglar since it has mechanical levers present on the sides of the machines. They also have the capacity to empty players’ pockets just as the burglar would do. Modern machines are highly operated with advanced mechanism and have no levers but instead makes use of buttons as well as touch screens.

Besides, the player does not have to worry about the currency they invest in the slot machine. Machines have a currency detector that helps in varied paying which can be coin, voucher, token, or cash. They pay the players concerning the symbols, which are patterned when the reel-spinning stops. An electronic gambling machine is the popular method of gambling and is the only part, which makes the maximum profit to the casino.

House advantage:

These games are played not just for fun. The motto behind these gambling is simple, to get more money. Casino games generally give a long-term benefit to the House or casino. While the player thinks he has earned the profit, but in a real sense, the player gains a short-term advantage from gambling compared to the house.

How To Import And Export Effectively

Posted on September 10, 2020September 11, 2020Categories Import Export Tips

Whether you are thinking of converting your company into an importer or exporter or if you have already done so, take note of some tips taken from interviews with experts and companies. Each one of them is a piece that forms the foreign trade puzzle.

How is my company ready to export or import?

Does your company have a bilingual receptionist? Can your production chain respond to high demand peaks? Do you have a commercial team capable of facing the new challenge (travel, irregular schedules …? Do you have financial capacity to make the leap abroad? Do you have a competitive product or service? As an importer, you are looking for lasting agreements? But more important than This self-assessment is your commitment (as manager, owner or majority partner) with the decision to internationalize the company, an obsession that you must spread to the rest of the departments and staff.

Alone or in company?

In foreign trade there are three phases that determine the consolidation of the business project in the destination market. The first is commercial sales operations abroad. For this, a commercial intermediary is enough that collects the merchandise in port and markets it. The second is the cooperation with a local partner who takes care of the whole process?

Although there are brave exceptions, if it is emerging markets or developing countries, the recommendation is to start the foreign adventure accompanied. The work of a local partner will pave the way for you and avoid surprises. With a distributor or commercial agent you save the logistics structure, offices, personnel and transport. Remember that at the beginning, assessing costs is a priority.

Include a visit to fairs in your agenda

Whether as an exhibitor or as a visitor, they will allow you to know market conditions and make contacts with possible partners and suppliers. Yes. Choose well. Focus on the sectorial and professionalized ones.It is work that requires a lot of dedication at the beginning.

Familiarize yourself with the following terms. They are part of the fundamental documentation in foreign operations.

  • Commercial documents. It includes the commecial invoice, pro forma invoice, certificate of origin (processed by the Chambers of Commerce) and a list of contents or parking list (description of the merchandise).
  • Customs . They are the ATA and CPD Notebooks (they allow you to temporarily send goods to 75 countries); Single Administrative Document (DUA), processed by the Tax Agency; Intrastat (periodic declaration).
  • Of transport . We are talking about the consignment note by road, rail, sea and air.
  • Certificates . Includes insurance, health certificates, etc.
  • Customs formalities. You will have to formalize the Registration in the Exporters Registry (form 036) and the VAT.

Don’t get caught or how to choose a partner

The correct choice of a partner or supplier is a key factor in the process that you have started. Trade shows are an excellent showcase to get in touch with, but be wary of those who want to close a deal on site. Before signing anything, look for information about that potential partner or supplier: company size, production, talks with companies that have worked with him, his financial solvency (in the case of a partner) and meeting deadlines (supplier).

For the association to strengthen the company, making it more competitive, it is key that the chosen partner has a good network of contacts and the ability to expand it, as well as financial stability.