H1 cashew exports decline on slack demand

KOCHI, NOV. 20:

Exports of cashew kernels during the first half of the current fiscal declined sharply. Shipments during the period were 45,572 tonnes valued at Rs 1,891.62 crore against 54,108 tonnes valued at Rs 2,148.82 crore in the corresponding period last year. The average unit value was at Rs 415.09 a kg (Rs 397.13).

Imports of raw cashew nuts also fell during the first six months of the current fiscal to 5,08,020 valued at Rs 3,081.69 crore from 5,82,470 tonnes valued at Rs 3,681.49 crore in Apr - Sep 2011. The unit value this fiscal was at Rs 60.66 a kg ( Rs 63.20), according to Cashew Export Promotion Council of India (CEPCI) sources.

They attributed the fall in exports to the fragile economic conditions prevailing in major consuming countries and the tough competition from other tree nuts.

PRICES FIRM/STEADY

Meanwhile, prices of white whole cashew kernels continued to inch up last week in the international markets. However, not much change was seen in price for other grades. “Activity was limited as there was reluctance amongst buyers to pay higher prices and amongst shellers to sell at the last traded levels”, Pankaj N. Sampat, a Mumbai-based dealer, told Business Line.

The domestic market was quiet following the peak activity in end Oct/early Nov before the festivals. Prices for wholes in the intra-sheller market moved up smartly in the last few days.

Price range last week was W240 from $3.85-3.95; W320 from $3.35-3.45; W450 from $3.10-3.15; SW320 from $2.90-3.05; SW360 from $2.75-2.85; splits from $2.15-2.25; butts from $2.25-2.30; pieces from $1.65-1.75 an lb (f.o.b).

Source: Business Line