Exports of Raw Cashew Nuts (RCN) have risen sharply in October even as cashew kernel exports for the April-October period continued to plunge.
In October, 2,288 tonnes of RCN were shipped out and with this the total shipments in the period soared to 2,309 tonnes valued at ₹32.96 crore from 1,666 tonnes valued at ₹15.74 crore.
Shipping of RCN took place when “we are one of the largest processors in the world and our dependence on imported RCN has so far been perpetual with over 50 per cent of our requirement being met by imports every year,” said Sundaram Prabha, Chairman, Cashew Export Promotion Council of India (CEPCI).
Cashew exports continued to show a declining trend every month with total shipments in the April-October period dropping 24 per cent in volume and 12 per cent in value, he said.
Total shipments during the period under review fell to 43,717 tonnes valued at ₹2,561.38 crore from 57,550 tonnes valued at ₹2,895.11 crore in the corresponding period last financial year, according to S Kannan, Executive Director and Secretary, CEPCI.
Attributing the consistent fall in exports mainly to non-receipt of parity price for kernel, Sundaram said processors do not enjoy a level playing field due to high cost of production, inadequate support/incentives from the State/Central governments, high cost of funds, stagnant overseas markets due to recession, competition from Vietnam and other processing countries who were traditionally suppliers of RCN to India.
Imports of raw cashew nuts have fallen sharply during the first seven months of 2016-17. Total imports dropped 30 per cent to 5,51,106 tonnes valued at ₹5,986.86 crore from 7,84,756 tonnes valued at ₹6,686.75 crore.
The average unit value has increased by 27.5 per cent to ₹108.63 a kg from ₹85.20 in April-October 2015.
High domestic prices are said to have resulted in an increase in imports of kernels. During April-October 2016, 1,674 tonnes were imported at a value of ₹93.01 crore at a unit value of ₹555.77 a kg against 1,505 tonnes valued at ₹66.16 crore at the unit value of ₹439.75 a kg.
Original Source: thehindubusinessline.com
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