Cashew exports, affected in April due to the Euro crisis, regained its momentum in May, though marginally lower than last year in the same month.
Exports which had dipped to 7,802 tonne and Rs 209.74 crore in April, saw a robust pick-up to 8,746 tonne and Rs 234.19 crore in May, though it was marginally short of the year-ago figure of 8,835 tonne and Rs 237.95 crore, according to data given by Cashew Export Promotion Council (CEPC).
During April, the cashew kernel exports had declined mainly on account of slow pace of global recovery and the Euro-zone debt crisis causing slowdown in demand.
Exports of the wonder nut, which was hit last year due to global economic crisis, have been on an upward trend since January this year. "The fluctuations in prices and fall in Euro has contributed to this upward trend in cashew exports," CEPC Secretary Sashi Varma said.
He said the global crisis is not fully over yet and these fluctuations in prices are normal. When asked on the shipments scenario ahead, he said, "It is difficult to predict the future, we can only hope for a better offtake," Varma added.
Indian processed cashew nuts are shipped to the US, West Asia and Europe.
The cumulative exports during the first five months also showed slight decline in volume at 42,616 tonne as compared to 42,704 tonne. However, in value terms it was at Rs 1,152 crore during January-May period as against Rs 1,133.41 crore, the data showed.
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Meanwhile, import of raw cashew nuts showed a declining trend since last two months. In May, raw cashew import stood at 92,016 tonne compared to 92,818 tonne.
However, in value terms, there was a slight improvement due to price fluctuation at Rs 360.86 crore against Rs 338.88 crore in the same month last year. The cumulative import of raw cashew during January-May was firm both in terms of volume and value.
In volume terms, it stood at 2,29,241 tonne during the first five months this year compared to 2,23,087 tonne in the same period last year.
While in value terms, the shipment was at Rs 1,041.22 crore compared to 916.60 crore in the same period last year.