Raw cashew price hurts exports

KOCHI: Country's exports of processed cashew nuts were down 10% during the period between April and September, hurt by continuing price increase for raw cashew nuts.
According to the figures from Cashew Export Promotion Council of India (CEPCI), export of cashew kernels declined to 55,471 tonnes from 61,866 tonnes in the comparable period of the previous year. "With the raw material prices up, the exporters here find it impossible to match the global prices of processed cashew nut," said K Sasi Varma, executive director and secretary,CEPCI.
Babu Oommen, owner of Alphonsa Cashew Industries, Kollam, said that cost and freight prices of raw cashew nut from Africa were in the range $1,500 - $ 1,600 per tonne during the current season. "Tanzania, Mozambique and Madagascar are the major producers from this region, but factories in Kerala could operate profitably only with a cost and freight price level of $1,200 per tonne," he said.

As the prices at traditional export markets like the US and western Europe are remaining stagnant, CEPCI is targeting non-traditional markets like the Middle East. CEPCI is also attending the Sial food trade show at Paris. Fifteen exporters from India will be attending the show this month.

- India Times