The recessionary trend in major consuming countries, such as the US, Europe and Australia, and marginal appreciation of the rupee against the dollar have affected the country’s cashew kernel exports during the current financial year.
Cashew kernel exports have declined 7.6 per cent to 62,367 tonnes during the April-October period, as compared with the corresponding period last year. In value terms, the exports dropped 9.2 per cent to Rs 1,673.1 crore, compared to the same period a year ago. Price realisation of exported kernels also declined 1.8 per cent on year to Rs 268.49 a kg.
However, in October, exports increased 26.2 per cent at 10,101 tonnes. In value terms, the exports were up 15.7 per cent at Rs 271.2 crore, as against the same period last year.
The exporters realised Rs 268.4 a kg, a drop of 8.2 per cent over the price realised in October, 2008.
According to Walter D’Souza, former chairman of Cashew Export Promotion Council of India (CEPCI) and a cashew exporter, the US posted a 24 per cent drop in imports of cashew kernels to 18,218 tonnes from India during the first seven months of the year. Australia also recorded 30 per cent drop in imports at 1,045 tonnes.
High demand in the domestic market also affected cashew exports. The consumption has been rising in the local markets and the price realisation was better as compared to the export market.
Current prices of W320 variety of kernels in the domestic market are hovering at Rs 310 a kg, compared with Rs 280 a kg in the global markets, D’Souza added.
