Cashew exports value rises 25% in H1

KOCHI, JAN 9: 

Cashew kernel exports are likely to be higher during the current financial year with shipments in the first half increasing 18 per cent in volume and 25 per cent in value.

Exports increased as cashew usage grew world over and its prices were lower than other tree nuts, according to sources. Sasi Varma, Executive Director and Secretary, Cashew Export Promotion Council of India (CEPCI) told Business Line that during April-November 2013, total shipments were 80,196 tonnes valued at Rs 3,346.14 crore at a unit value of Rs 417.24 a kg.

Against this, exports during the same period a year ago were 67,771 tonnes valued at Rs 2,673.39 crore at the unit value of Rs 394.47 a kg.

He said imports of raw nuts in April-November this fiscal were lower at 6,28,224 tonnes valued at Rs 3,439.79 crore at the unit value of Rs 54.75 a kg. (6,97,235 tonnes valued at Rs 4,133.17 crore at the unit value of Rs 59.28 a kg).

Due to the market being dull for kernel in the last two month and high raw cashew nut prices, about 10 per cent higher than the kernel parity, many processors have run out of stocks or cut processing so that stocks last longer.

Lower raw cashew buying in the last two months could also result in a rush to buy the 2014 crop, especially if there is any large kernel buying in the next few weeks. This could lead prices continuing to rule high.

Range of offers were $1,000-1,200 a tonne for West Africa (2013 crop); $1,250-1,350 for Indonesia; $1,200-1,300 for Mozambique and $1,425-1,450 for Tanzania.

The Northern crop, which constitutes over 75 per cent of the world production, is good this year.

The Hindu