The Hindu Business Line : Cashew exports drop on slew of factors

During April–December 2007, the total shipments of cashew kernels stood at 86,312 tonnes valued at Rs 1,671.95 crore against 89,585 tonnes worth Rs 1,866.64 crore in the corresponding period last year, according to the Cashew Export Promotion Council of India (CEPC) sources.

Mr P. Bharathan Pillai, Chairman, CEPC, told Business Line on Tuesday that the exports during January–October 2007 showed an increase of 1,220 tonnes from that of the corresponding period in 2006. He expressed the hope that the total shipments would reach the level of last fiscal by March end.

He said there was an improvement in the international prices in December/January compared with the same period a year . The average unit value during April–December 2007 was Rs 193.71 a kg against Rs 208.37.

Major factors

Mr G. Krishnan Nair of KGN Group, one of the major processor-exporters of cashew, said the fall in exports could be attributed to three major factors. They are continuous appreciation of rupee against dollar which has made “exports not as attractive as it used to be”; strong domestic market, though there isn’t any statistics on consumption available, which absorbs a large quantity and keeping prices above international levels; and competition from other producers in the international market in terms of value as “our cost of production keeps on rising”.

Better prices in the domestic market than that of the international market are said to have enthused the exporters to sell more on the local market. On the other hand, non-availability of indigenously produced raw cashew nuts has pushed up imports to 4,72,558 tonnes of raw nuts valued at Rs 1,201.59 crore during the first nine months of the current fiscal from 4,65,707 tonnes worth Rs 1,432.64 crore in the same period in 2006-07. The average unit value of imported raw nuts during April-December 2007 was Rs 25.43 a kg where as it was Rs 30.76 a kg in the corresponding period last year.

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