Short­age of Raw Nuts Hits Cashew Ex­port

The Economic Times - - Commodities Plus - Kr­ish­naku­mar.PK @times­group.com

Kochi: High prices and short­age of raw nuts have pushed In­dian cashew ex­ports down 11% in 201516 from a year ear­lier. The slump in quan­tity has been 21%.

As per ini­tial es­ti­mates of Cashew Ex­port Pro­mo­tion Coun­cil of In­dia (CEPCI), cashew ex­ports for the year reached 94,150 tonnes val­ued at .₹ 4,850 crore. The value had touched a record .₹ 5,431 crore in the pre­vi­ous year. Raw nut im­ports, mostly from Africa, have been go­ing up in the past few years with ris­ing con­sump­tion of cashew. To pre­vent mis­use of im­port norms, the govern­ment had im­posed 9.36% duty on im­ports a month ago. This has curbed the im­port of raw nuts which fell short of 1 mil­lion tonnes at 949,322 tonnes in FY16.

Im­ports in the last month showed a 29% drop. In­dia is now im­port­ing over 60% of its raw nut re­quire­ment. “Ex­ports were hit by ag­gres­sive sell­ing by Viet­nam at com­pet­i­tive prices. There is a de­lay in raw nut ar­rivals and al­most 30-40% of raw nuts pro­duced are now be­ing pro­cessed in Africa it­self,’’ said Prakash Rao, man­ag­ing part­ner, Kal­bavi Cashews.

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