High input costs continue to cause a decline in Indian cashew nut exports this current fiscal year, while the import of raw nuts has witnessed an upsurge.
During April 2015-January 2016, shipments of cashew stood at 84,424 tonnes valued at Rs 41 billion at an average unit value of Rs 490.84 a kg. Whereas, in the corresponding period last fiscal exports were at 1,00,208 tonnes valued at Rs 45.35 billion at a unit value of Rs 452.60/kg.
Shipments in January stood at 6,649 tonnes valued at Rs 3.58 billion at a unit value of Rs 539.33 against 10,431 tonnes valued at Rs 4.87 billion at a unit value of Rs 467.24 in January 2015.
High processing costs due to an increase in imported raw nut prices coupled with a rise in wages has pushed the kernel prices up affecting the exports, Sundaran Prabha, Chairman, Cashew Export Promotion Council of India (CEPCI), told BusinessLine.
He attributed the rise in RCN prices to the unhealthy and unscrupulous activities by the trade. Therefore, he said, the CEPCI has urged the Union Commerce Ministry to bring in some control over imports and such trading activities.
Despite high unit value, import of raw cashew nuts (RCN) showed an upsurge in January. During the month, 41,693 tonnes of RCN were imported at a unit value of Rs 113 a kg against 27,249 tonnes at a unit value of Rs 89/kg in January 2015.
In January, the world cashew market was steady with reasonable activity in all markets.
Current price range is W240 $ 3.85-4, W320 $3.55-3.70, W450 $3.45-3.60, SW320 $3.40-3.50, Splits $3.20-3.35, Pieces $3-3.15 per lb (fob).
(1 Indian Rupee= 0.015 USD)
Source: thehindubusinessline.com
