Cashew exports up 15%

Cashew exports went up by 15 per cent during November to 9,549 tonnes compared to the same month a year ago due to rise in demand and opening of exports market like the US.

During November 2008, cashew kernels exports stood at 8,308 tonnes, according to data provided by the Cashew Export Promotion Council (CEPC). In terms of value too exports rose to Rs 253.76 crore.

“The market is slowly firming up boosting exports and it seems that the country’s main export destinations the US is opening up,” CEPC Secretary Sashi Varma said.

Exports are likely to be affected this month as the domestic consumption will be higher due to Christmas demand. However, the overall exports during April-November period witnessed a decline of 5.12 per cent at 71,918 tonnes from 75,918 tonnes in the corresponding period last year. In terms of value there was a dip of nearly 8 per cent at Rs 1,926.88 crore against Rs 2,091.14 crore.

There was also a decline in exports during the first nine months of this year compared to 2008. In terms of volume cashew exports in January-November period stood at 97,360 tonnes at Rs 2,598.84 crore. Meanwhile, the import of raw cashew in November came down to 24,873 tonnes from 31,493 tonnes, a dip of 21 per cent.

In value terms also imports declined to Rs 101.97 crore compared to Rs 161.23 crore last year. Varma said, imports declined as traders have sufficient stocks from last month, which was substantially higher.