Cashew exports up 25% in January amid slump

Cashew kernel exports recorded a 25 per cent growth during January at over Rs 223 crore due to increase in value realisation amid global economic slowdown.

The exports stood at Rs 178.76 crore in January 2008, according to data by Cashew Export Promotion Council (CEPC). However, in terms of volume the exports have declined marginally to 8,460 tonnes as compared to 8,483 tonnes. But the unit value realisation saw an increase of Rs 53 at Rs 263.64 a kg as compared to Rs 210.73 a kg during the review period.

“There was an impact of international economic crisis on cashew exports as it is not an essential commodity,” said CEPC Secretary Sashi Verma. Going by the trend, Verma said, things are improving slightly. Cashew nuts are now costing $2.3 a pound as compared to $2 some few months back.

CEPC is on a constant look out for new export avenues eyeing to raise the number of countries in its fold. However, in the current scenario it seems a bit difficult and we are hoping that things will return to normal in another six months, he added.

As per the cumulative data from April 2008 to January 2009, there was over 35 per cent increase in exports at Rs 2,507.02 crore as against Rs 1,850.71 crore during the same period last year.

In terms of quantity, the exports stood at 91,381 tonnes during the current financial year till January as compared to 94,794 tonnes in the corresponding period in the previous year. In the earlier part of 2008-09, the prices were good but came down in the later part, Verma said .