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Web site launched for cashew trade

Our Bureau

KOCHI, Feb. 25

NUT Trade LLC of California has launched a new Web site CashewMarket.com targetting the international cashew community to provide industry news and analysis, production area weather reports and market features.

Speaking to reporters, Mr Ray Garman and Mr Don Nicolaysen of Nut Trade LLC said a key part of the solution

to depressed cashew prices might involve the use of better marketing tools to increase market liquidity, including Internet- based trading floors that bring the most reliable exporters together with market making buyers from Europe and North America.

The concept of building online trading communities was not a new one, but Nut Trade saw itself as one more in touch with the edible nut industries than simply another dot-com, they added.

The company proposed to limit the cashew trading floor to exporters and importers with the longest record of reliable trading, regardless of volume, allowing others to join the market place after they establish strong reputations in the industry, they sa id.

Mr Garman and Mr Nicolaysen, who were here in connection with the World Cashew Congress 2001, said Nut Trade role was to act as a market facilitator, providing an important marketing tool for the cashew industry. He also announced the opening of a cashew trading floor in Kerala that would sharpen the focus of the cashew trade and provide a venue for the trading activity of exporters, importers and brokers.

The company presently operates an on-line mercantile exchange for the nut industries from its marketing office in Modesto in California. It also offers a turn-key Web trading system called Nut Trade Trading Floor to qualified commodity trading companies and the Nut Trade Private Exchange for procurement and private offerings by individual buyers and sellers.