Cashew nut export earnings down 6.8%

Export earnings from cashew nut slipped by 6.8 per cent to Rs 2,288 crore in 2007-08 (April-March) as compared with Rs 2,455 crore in 2006-07, according to a Cashew Export Promotion Council of India (CEPCI) official.

The volume of exports came down to 114,340 tonnes from 118,540 tonnes in the corresponding period, she said.

Appreciation of the rupee against the US dollar and competition from Vietnam were the main reasons for the fall in value and quantity of exports, dealers said.

Average export earnings declined to Rs 200.18 a kg as compared with Rs 207.12 a kg in the earlier year, the official said.

However, the quantity of raw cashew nuts imported for processing and re-export moved up to 605,970 tonnes from 556,044 tonnes.

"The value of raw cashew nut imports came down to Rs 1,746 crore from Rs 1,811 crore as the average cost of imports slipped to Rs 28.83 a kg from Rs 30.91," she said.

The quantity of cashew-shell liquid exports rose to 7,813 tonnes from 6,139 tonnes. Export earnings from cashew-shell liquid rose to Rs 11.2 crore as compared with Rs 10.03 crore in 2006-07, the official said.

Cashew nuts are mainly exports to the US and Europe.