India's export earnings from cashew kernel fell 10 per cent to Rs 7.50 billion in April-July from Rs 8.37 billion a year ago, an official from Cashew Export Promotion Council said today. Quantity of exports was down marginally to 38,891 tonnes from 39,996 tonnes last year, he said. | |
| Appreciation of the rupee against the dollar and fall in production due to outbreak of fever in the processing regions in Kerala hit the earnings, said exporters. |
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| Average export earnings fell to Rs 192.92 a kg from Rs 209.46. Rising competition from Vietnam also contributed to the fall in exports. |
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| In July, the central government raised rate of duty draw back to 3 per cent from 1 per cent and also cut interest rates for packing credit. Exporters said these measures may help mitigate impact of rupee appreciation. |
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| Import of raw cashew nuts for processing and re-export rose to 258,873 tonnes from 211,544 tonnes. Total cost of importing raw cashew nuts, however, slipped to Rs 6.47 billion from Rs 6.61 billion a year ago, due to fall in raw cashew price. |
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