The Hindu Business Line : Specialty cashew: Promising growth

According to experts, this segment is likely to constitute around 10 per cent of the global cashew trade in the coming years. Mr G. Giridhar Prabhu, Convenor of India Cashew Federation, told Business Line that organic cashew, value- added cashew products and cashews with unique geographical indication are part of specialty cashew.

Specialty cashew, which constitutes less than one per cent of the global cashew trade now, will be around 10 per cent of the global trade by 2020. The potential value of specialty Indian cashew at retail would be Rs 1,200 crore by then, he said.

“Specialty cashew is something that customers recognise as unique and which differentiates a product from a commodity to one which is relished for certain characteristics,” Mr Prabhu said. Out of 1,200-odd cashew factories in India, around 40 factories are producing specialty cashew now.

Organic

At present, organic cashew is leading the pack in the specialty cashew segment.

Mr Walter D’Souza, Chairman of Cashew Exports Promotion Council of India (CEPCI), said there has been galloping increase in the prices of organic cashews. While it was exported at a premium of 6-10 per cent over the ordinary cashew a year ago, now it commands a premium of 25-30 per cent in the export market.

The CEPCI, which participated in the Summer Fancy Food Show at New York in July, received a good number of enquiries for organic cashew. The health conscious western world and the fad which goes with that are spurring the demand for organic cashew, he said.

Hardly 2-3 per cent of organic cashews are being shipped now, and it has potential to go up to 25 per cent, he said.

Value Addition

Value-added cashew products are in great demand in the specialty cashew market. Mr D’Souza said that export of roasted cashew to West Asian countries began a few years ago in cartons. Today, this value-added product is being shipped in container. That shows the demand for value-added products in the export market.

Mr Prabhu said his Achal Industries has worked with ice cream and sweet manufacturers, liquor, and food manufacturers in various applications of cashew.

G.I. IN CASHEW

Just like Darjeeling tea or Nagpur orange, cashews sourced from some regions in India have good demand in the market. Mr Prabhu said the size, whiteness, smoother surface and taste of cashew nut play important role in geographical identification of cashew.