The Hindu Business Line : Cashew imports seen up

THE cashew processing industry in the country is growing at a rate of 8-10 per cent per annum, according to Mr Walter D'Souza, former Vice-Chairman of the Cashew Export Promotion Council of India.

He attributed this to the growth in the import of raw cashewnuts from African and Far-Eastern countries.

He stated in a press release here on Wednesday that India imported 4.08 lakh million tonnes of raw cashewnut during April 2003 to January 2004 against 3.76 lakh million tonnes for the same period previous financial year.

Stating that there is decline in the quantity of export, he said India exported 81,629 mt of cashew worth Rs 1,460.04 crore against 87,238 mt worth Rs 1,636.61 crore.

With the increase in the import of raw cashewnuts and decline in its export, the domestic market will have to carry forward an inventory of about 15 per cent during the cashew harvesting season.

He said Indian exporters suffered a setback of six per cent in export realisation due to the strong Indian rupee vis-à-vis the US dollar. The industry is all set to take corrective steps at the beginning of the procurement season this year.

Mr D'Souza said that Indian processors are cautious in paying any premium for the Indian crop, as the West African crop is likely to flood the domestic cashew factories. Import from these counties will commence in late March, he added.

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