Indian cashew kernel priced out of global markets
The decline in shipments is attributed to a substantial increase in the unit value by 18 percent and traders say this phenomenon has resulted in the cashew kernel becoming slightly less competitive with other tree nuts.
Kernel shipments
At the same time, there has been a sharp rise in prices of imported raw cashew nuts (RCN) in April. However, the upsurge in the RCN prices will not reflect on kernel prices.
Exports of cashew kernels in April stood at 7,318 tonnes valued at ₹318.22 billion ($5.4 billion USD) at a unit value of ₹434.86 a kg ($7.39 USD).
Shipments in April last year were 9,995 tonnes valued at ₹368.05 billion ($6.25 billion USD) at a unit value of ₹368.23 a kg ($6.26 USD).
Shell liquid exports
The increase in price of Cashew Nut Shell Liquid (CSNL) also led to a decline in its exports in April.
Against 612 tonnes valued at ₹2.450 billion ($41.6 million USD) shipments in April stood at 462 tonnes valued at ₹2.23 billion ($37.9 million USD) . The unit value rose to ₹48.30 ($0.82 USD).
Raw nuts
Import of raw cashew nuts showed a marginal increase despite sharp rise in its price in other origins.
During April this year imports rose to 46,005 tonnes valued at ₹341.10 billion ($5.8 million USD) at a unit value of ₹74.14 a kg ($1.26 USD) from 45,737 tonnes valued at ₹256.40 billion ($4.36 billion USD) at the unit value of ₹56.06 a kg ($0.95 USD) in the same month last year.
Overall exports
Total shipments in last financial year rose to a record high with exports rising by over 13 per cent to 1,13,620 tonnes from 1,00,105 tonnes in the previous fiscal.
Total value realisation stood at ₹4,975.96 trillion ($84.6 billion USD) against ₹4,046.23 crore ($68.8 billion USD) in 2012 -13 despite an increase in the average unit value to ₹439.34 a kg ($7.47 USD) during the current financial year from the previous year, according to Cashew Export Promotion Council of India (CEPCI).
Source: thehindubusinessline.com