Cashew kernels exports up 50% in January-May

Export of cashew kernels has gone up by 50 per cent in value terms during January-May 2005, aggregating a total income of Rs 1,231.18 crore. India exported 46,967 tonne of cashew kernels in January-May 2004 which has gone up to 54,283 tonne in the current year.

According to the estimates of the Cashew Export Promotion Council of India (CEPCI), total export in the first two months of FY06 was 21,881 tonne valued at Rs 497.49 crore. In May alone, 11,325 tonne of cashew kernels were exported which fetched an income of Rs 259.92 crore.

This improvement in exports has come because of better unit value realisation and increased demand from India by the US and European markets, thanks to a setback in exports from Vietnam.

During the last financial year, India's cashew nut exports rose to an all-time high of Rs 2,709.24 crore.

Exporters told Business Standard that the trend in the current year seems very hopeful and better export performance is expected in the current fiscal. Total exports in 2004-05 was to the tune of 1,26,667 tonne. A better performance was achieved in 1998-99 when exports fetched Rs 2,569 crore. But in 2003-04 it was only Rs 1,804.43 crore.

But amid this scenario of better export performance, the export of cashew nut shell liquid had faced a setback, both in quantity and value terms in the first six months of the current fiscal. Total export was 1,362 tonne valued at Rs 1.45 crore while during January-June 2004 it was 2,896 tonne valued at Rs 2.91 crore.

In FY05, export had increased by 7.91 per cent at 7,474 tonne and fetched Rs 7.91 crore. The trend in the current fiscal seems disappointing as only 1,316 tonne valued at Rs 1.32 crore was exported in April and May. While in April-May 2004, the export was to the tune of 1,696 tonne valued at Rs 1.75 crore.

Good overall performance on the export front has led to increased import of raw cashew nut. In April and May alone, 76,495 tonne cashew nut was imported valued at Rs 294.58 crore compared with 45,659 tonne of imports valued at Rs 128.33 crore in April-May 2004.

In the first five months of the current year, total import was to the tune of 182,508 tonne valued at Rs 755.30 crore. During January-May 2004, total import was 14,0318 tonne valued at Rs 441.87 crore.

Incidentally total import of raw cashew nut in FY05 was 578,884 tonne valued at Rs 2,183 crore. Total import in 2003-04 was 452,398 tonne valued at Rs 1,493 crore.