KOCHI: Cashew nut export volumes are steadily declining even as domestic consumption is witnessing a consistent growth. Cashew export has dropped for second successive year in 2016-17.
It fell by 16 per cent to 81,110 tonnes. In the year before it had declined by 19 per cent to 96,346 tonnes. At the same time, domestic consumption has touched 3 lakh tonnes and is growing at 5-6 per cent annually.
According to the provincial data by The Cashew Export Promotion Council of India (CEPCI), the export value has risen marginally by 3 per cent for 2016-17 reaching Rs 5,077 crore because of the better prices fetched by the cashew kernels towards the end of the year.
CEPCI secretary S Kannan attributed the fall in quantity to limited availability of imported raw nuts due to the imposition of 9.36 per cent duty from last year, high price of raw nuts and poor production in India. The duty was imposed to prevent local traders from misusing free import norms. But it has become an impediment for the exporters. Retail cashew prices was Rs 800 to 1,000kg while export price was $4.64.9 per pound, (about Rs 700 per kg) last year.
Source: The Economic Times