Cashew exports surgeon winter demand

KOCHI, JANUARY 16: 

Winter demand pushed up cashew exports during April-December of the current fiscal, despite higher unit value in November and December.

Total shipments during the first nine months of the current fiscal stood at 1,01,176 tonnes valued at ₹4,098.81 crore at an average unit value of ₹405.12 a kg. However, shipments during the corresponding period last fiscal were 93,691 tonnes valued at ₹3,888.85 crore at the average unit value of ₹415.07.

Exports in December increased to 11,022 tonnes valued at ₹521.32 crore at the unit value of ₹472.98 a kg from 10,963 tonnes valued at ₹476.95 crore at the unit value of ₹435.05.

Raw cashew exports

Export of raw cashewnuts soared during April -December to 15,534 tonnes valued at ₹132.89 crore at the unit value of ₹85.55 a kg from 3,527 tonnes valued at ₹20.36 crore at the unit value of ₹57.72.

In fact, over 50 per cent of the cashew processing industry’s annual requirement is met by imports from overseas. The country has a total processing capacity of more than 20 lakh tonnes, whereas domestic raw nut production has been hovering around seven lakh tonnes, industry sources in Kollam said.

Much of the raw cashew shipments, according to the trade, have been to Vietnam, where Indian cashew processors have established processing facilities. They are believed to be shipping out from the imported raw nut stocks to their units in Vietnam, trade sources said.

Imports of raw nuts increased during April-December to 8,01,418 tonnes valued at ₹5,411.36 crore despite a rise in raw cashew prices from 6,71,494 tonnes valued at ₹3,754.10 crore. The average unit value stood at ₹67.52 against ₹55.91 in the corresponding period a year ago.

- The Hindu