• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

G K Nair

Kochi, Sept 21 Cashew exports from the country continued to show an upward trend, despite the rise in prices on short supply from other sources.

During the first five months of the current fiscal, shipments of cashew kernels increased by 2,320 tonnes to 51,651 tonnes in the same period last financial year. The high unit value realisation has raised the total earnings by Rs 439.90 crore to 1,386.24 crore during April - August 2008 as against Rs 946.34 crore in same period last year, according to Mr Sasi Varma, Secretary, Cashew Export Promotion Council of India (CEPC).

The average unit value stood at Rs 268.39 a kg as against Rs 191.84 a kg. The unit value increased to Rs 283.48 a kg in August 2008 and that has led to a decline in the exports in that month, industry sources in Kollam told Business Line. Shipments in August stood at 9,797 tonnes as against 10,441 tonnes in Aug 2007.

They attributed the increase in Indian exports and the rise in price to non-availability of indigenous raw materials coupled with default by Vietnamese exporters. The present trend is expected to continue in the coming weeks, they claimed. 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.

Cashew nut consumption is on the increase in Indian metros. Retail prices ranged between Rs 400 to Rs 450 a kg for W 320, he said. During the Onam season, the Kerala State Owned Cashew Development Corporation has sold products worth Rs 1 crore, Dr K.A. Retheesh, Managing Director told Business Line.

Given the rising trend in the prices in the world market coupled with the slow down in Vietnam and possible defaulting by exporters from there the demand for Indian cashew kernels could continue for some time to come, he said.

According to industry sources, short supply of raw nuts has also pushed up the imports and its unit value during April-August this fiscal to 3,60,109 tonnes valued at Rs 1,438.47 crore at a unit value of Rs 39.95 a kg. Imports during the same period last year were at 3,37,793 tonnes valued at Rs 827.82 crore at a unit value of Rs 24.51 a kg. The forex outgo was thus, higher than the export earnings during the first five months of the current fiscal.

However, availability from overseas could be affected if the Kenyan government banned export of raw nuts as reported.

More Stories on : Cashew | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line