Cashew exports down 8% as Vietnam gains ground

Cashew exports fell 8.24 per cent to 1,04,954 tonne in April-February from the year-ago period due to a fall in almond prices as well as stiff competition from Vietnam, Cashew Export Promotion Council of India officials said Thursday. In value terms, export fell to Rs 2,325 crore from Rs 2,431 crore.

Fall in almonds prices by 30 per cent in recent times in the US has adversely impacted cashew nuts export, said Walter D'Souza, chairman of the council.

Prices of cashew nuts, almonds, and pistachio are linked to each other, he said.

Vietnam has been emerging as a major competitor for Indian cashew exports in the global market is also a primary reason for fall in exports, D'souza said. Vietnam has the advantage of cheap raw material and labour. It exported 1,00,000 tonne of cashew kernel last year (April-March), which they expect to maintain this year as well.

Export volume of cashew shell liquid fell to 4,814 tonne from 7,443 tonne in April-February. In money terms, this was down to Rs 5.29 crore from Rs 7.44 crore.

Import of raw cashew nuts to India stood at 5,44,654 tonne, down 22,752.

India, accounting for more than 50 per cent of global cashew kernel exports, earned Rs 2,709 crore last year (April-March).