In the first quarter of the current fiscal, cashew exports from India fell 22 percent from the corresponding period last fiscal. Total shipments during the April-July period fell to 18,419 tonnes, valued at Rs10.26 billion from 23,579 tonnes valued at Rs11.65 billion in the corresponding period last financial year, according to the Cashew Export Promotion Council of India (CEPCI).
The decline in volume stood at 22 percent while that of the total value was at 12 per cent. The average unit value realised has shown an upsurge of 13 per cent during this period, Sasi Varma, Executive Director and Secretary, CEPCI, said. The unit value increased this fiscal to Rs557.30 a kg from Rs494.46 in April-June 2015, he said.
Meanwhile, the fall in the unit value of Cashew Nut Shell Liquid/Cardinol is said to have raised their exports to 3,394 tonnes valued at Rs130 million from 2,698 tonnes valued at Rs157 million. The unit value realised fell to Rs38.33 a kg from Rs58.41 a kg, he said.
Attributing the consistent fall in exports mainly to non-receipt of the parity price for kernel, Sundaram Prabha, Chairman, CEPCI, told BusinessLine that the sharp rise in Raw Cashew Nut (RCN) prices coupled with closing down of around 80 percent of the factories in Kerala following a hike in wages, is also responsible for the decline.
Imports take a dive
Meanwhile, imports of raw cashew nuts have declined substantially fall during the first quarter of 2016-17.
Total imports dropped during the period by 47.5 per cent to 1,71,478 tonnes valued at Rs17.64 billion. The average unit value has increased to Rs102.91 a kg from Rs79.36 in April-June 2015.
The unattainable Standard Input – Output Norms (SION) fixed by the DGFT is said to be reason for the sharp drop in imports.
(1 Indian Rupee=0.015USD)
Source: thehindubusinessline.com
