Cashew exports continued to pick up in November on a decline in unit value and rise in demand, possibly for winter. However, overall exports continued to trail.
Cashew Export Promotion Council sources told Business Line that total exports during the first eight months of the current fiscal stood at 71,918 tonnes valued at Rs 1,926.88 crore against 75,806 tonnes valued at Rs 2,091.14 crore in the same period a year ago.
The drop in exports during April– November 2009 declined to 5.1 per cent from 7.6 per cent in April–October from that the same period in 2008, they said. The average unit value during the April – November 2009 was at Rs 267.93 a kg against Rs275.85 a kg.
Shipments in November 2009 were 9,549 tonnes valued at Rs 253.76 crore at unit value of Rs 265.75 a kg against 8,308 tonnes valued at Rs246.97 crore at a unit value of Rs 297.27 a kg.
US recovery
Industry sources said that recovery in the US economy has paved the way for increased consumption and that had reflected on the exports, of late. Besides, the unit value has also declined from the levels in October-November 2008, they said.
Total imports of raw cashew nuts shot up during the current fiscal (April – October 2009) to 5,92,572 tonnes valued at Rs 2,246.48 crore from 4,91,148 tonnes valued at Rs 2,090.06 crore in the same period last fiscal.
The average unit value this fiscal was Rs37.91 a kg as against Rs42.55 a kg during April-November 2008.
Availability at lower unit value is said to be reason for the increase in imports of raw cashew nuts, official sources said.
Source : Business Line