Cashew Kernel exports drop by 5.4% in 2008-09

India`s Cashew Kernel exports declined 5.4% to 108,131 tons for the year ended March 2009 compared to the previous year. While, in value terms, the exports have gone up by 29% to Rs 29.50 billion compared to the last year, reports Business Standard.

The rise in value was mainly due to a 36% rise in the unit value realization at Rs 272.8 per kg, as a result of the appreciation of dollar against the rupee in international market. However, the industry suffered a temporary setback in the last quarter of the financial year as many buyers in Europe and the US postponed their shipments to the first quarter of the current financial year.

The cashew nut processing industry, which is mainly dependent on the import of raw cashew nut to meet requirements, imported 605,654 tons of raw nuts during the year. In value terms, the imports were up 50.6% to Rs 26.3178 billion compared to the last financial year. The unit value of imported nuts went up by 50.7% to Rs 43.45 per kg compared to the last year.

The export of cashew nut shell liquid, which is a major raw material in various industrial applications, declined by 10.7% to 6,976 tons. In value terms, however, the exports went up by 40.1% to Rs 16.70 million compared to last year.

Source : Myiris