The Hindu Business Line : Cashew exports drop in value

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Kochi Jan. 22 Exports of cashew during April - December increased in terms of volume, while it dropped in terms of value on lower unit value realisation.

Shipments

Total shipments during the first nine months of the current fiscal stood at 89,586 tonnes valued at Rs 1,866.64 crore against 86,404 tonnes worth Rs 1,929.30 crore during the same period a year ago.

However, "we expect that the exports will match the level of last financial year by March 31, 2007," said Mr K. Sasi Varma, Secretary, Cashew Export Promotion Council of India (CEPC).

Imports rise

Imports of raw cashew nuts in April - December 2006 increased to 4,65,707 tonnes valued at Rs 1,432.64 crore against 4,59,633 tonnes worth Rs 1,792.95 crore in the same period last year.

There has been a decline in the unit value of raw nuts imported this year.

Industry sources in Kollam, the centre of Indian cashew processing and exporting industry, attributed the drop in unit value to the improved supply position.

However, the prices are expected to rule steady at the current levels, as there is equilibrium in demand and supply position at present, they told Business Line on Monday. The unit value realisation was at Rs 208.36 a kg against Rs 223.29 .

According to them, there has been a shift in the consumer preference towards cashew nuts and as a result during the past three years there was a demand growth of 5-10 per cent. They said the current global demand was estimated at 3.5 lakh tonnes and there was not much difference between the demand and supply.

They said that wages had been increased by 20 per cent from Januaryand as an impact of it, the total value is expected to move up by 3-5 per cent. Besides, the price of indigenously produced raw cashew nuts is also expected to be higher this year. Given this situation, the exporters are asking for a higher price but the overseas buyers are waiting and watching, they added.

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