The Hindu Business Line : H1 cashew exports value up; volume down

EXPORTS of cashew kernels during the first half of the current fiscal has declined in terms of volume, while in terms of value it has increased by Rs 102.80 crore, thanks to the increased unit value realisation.

During April - September, the total exports of cashew kernels stood at 59,627 tonnes valued at Rs 1,343.27 crore as against 61,724 tonnes valued at Rs 1,240.47 crore in the corresponding period last fiscal.

In terms of quantity, there has been a drop of 2,097 tonnes, the Cashew Export Promotion Council of India sources here said. The unit value has increased to Rs 225.28/lb during the period from Rs 200.97 last fiscal.

Imports of raw nuts stood at 3,43,844 tonnes valued at Rs 1,355.51 crore as against 3,60,788 tonnes worth Rs 1,208.22 crore in the first half of the last fiscal. The unit value of raw nuts increased to Rs 39.42 a kg from Rs 33.49 a kg.

Cashew industry sources in Kollam told Business Line on Wednesday that there was a general slowdown in the world tree nut market as the prices of all the tree nuts had almost doubled in recent weeks due to short supply. The prices of cashew kernels also moved up but not to the levels of other nuts. "The current decline in volume is due to a temporary correction," they said.

The demand would pick up and the prices are expected to move up in the coming days due to high prices prevailing for other nuts, they claimed. The current price of W-320 is ranging between Rs 210 to Rs 225 per lbs, they said.

According to market sources, world cashew kernel trade exceeding $2 billion and an estimated exports of around 2.3 lakh tonnes a year has a projected annual growth of five to eight per cent over the next five years. India has the major share of the world market with around 60 per cent, followed by Brazil (31 per cent).

Meanwhile, the US tops with 55 per cent of the total global imports followed by the Netherlands (10 per cent), Germany (7 per cent), Japan and the UK with 5 per cent each.

The industry sources said as per the information available from the US "consumption of cashew in US had continued to rise and was expected to continue to do so with positive health report and beneficial diets." As a result, last year the consumption of nuts in the US was at its highest level ever with 225-230 million pounds.

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