Cashew kernel exports dip 10%

The country's cashew kernel exports have declined both in value and volume terms during the first half of the current financial year.

The decline is mainly attributed to appreciation of rupee against the US dollar and emergence of Vietnam as the leading exporter.

In value terms, cashew kernel exports have declined by 10.29 per cent to Rs 1,097.06 crore compared with the same period last financial year.

In volume terms, the exports came down by a marginal 1.80 per cent to 57,157 metric tonnes during the first six months of the financial year compared with the same period last year.

According to Walter D'Souza, chairman, Cashew Export Promotion Council of India (CEPCI), "The export market is no more lucrative for us as the prices in the domestic market are very attractive. The rise of rupee has made it further difficult for the exporters to make extra efforts to push their goods in the international market."

The exporters have also seen a drastic fall of 8.63 per cent in the unit value realisation at Rs 191.94 a kg compared with Rs 210.09 a kg in the export market during the first half of the year.

In the domestic market, the prices have averaged from Rs 230-235 a kg for W320 variety (a global standard), a rise of about 10 per cent over the last year's prices. The prices are hovering at Rs 250 a kg due to Diwali festival demand.

However, the country witnessed surge in the imports. The cashew industry imported 3,90,686 metric tonnes of raw cashew nuts, a growth of 9.66 per cent over the same period last year.

In value terms, it was 11.73 per cent lower at Rs 954.72 crore during the first six months of the current financial year, compared with the first half of the last year.

"This means that the domestic processors have produced more kernels at lesser price and also the consumption internally has gone up. However, we need to improve our exports. There is an effort globally by the big three producers such as India, Brazil and Vietnam to popularise the consumption of cashew. For this, we need to produce more," said D'Souza.

He said a delegation of CEPCI is meeting the Union Commerce Minister Kamal Nath this weekend in Delhi to apprise him of the difficulties faced by the cashew exporters in view of rupee appreciation and reduction in DEPB rates for cashew.

CRACKED NUT

In value terms, cashew kernel exports have declined by 10.29 per cent to Rs 1,097.06 crore compared with the same period last financial year

In volume terms, the exports came down by a marginal 1.80 per cent to 57,157 metric tonnes during the first six months of the financial year compared with the same period last year

The prices are hovering at Rs 250 a kg due to Diwali festival demand