Indian cashew exporters worried over inflated raw nut prices
“At $4.5 to 4.7 per pound (Rs 650-680/kg), the export price of cashew kernels is not at par with the price of imported raw nuts which is averaging around $2,000 per tonne,” said Pankaj N Sampat, director of Mumbai-based Samson Traders.
Cashew kernel prices which had risen to $4.90 per pound dropped to $4.50 at the time of demonetisation. But it improved slightly in January 2017 which helped boost exports.
This jump has pulled down the overall decline in shipments during the fiscal year. The ten-month exports ended Jan 2017 stood at 70,0049 tonnes valued at Rs 4,326 crore. This showed a 14% fall in quantity.
source: economictimes.indiatimes.com
