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  • India’s rising cashew processing cost attributable to rising wage cost

    Jan 2nd, 2019

    Vietnam is a major supplier of cashew kernel and is a competitor to India. The industry has reported that processing cost in India can be attributed to a variety of factors, including the increased wage cost, the lower output of cashew kernel and the domestic and international demand-supply situation, which increase the processing cost.

    The details of exports of cashew kernel from India between CY 2013 and CY 2017 are as follows:

    Year

    India’s export of cashew kernel (HS Code 080132)

    CAGR (Compound annual growth rate) percentage growth

    India’s export of cashew kernel (HS Code 080132)

    CAGR % Growth

    2013

    917.48

    Base year

    1,596.34

    Base year

    2014

    861.02

    -6.15

    1,930.39

    20.93

    2015

    804.49

    -6.57

    2,315.66

    19.96

    2016

    730.99

    -9.14

    2,732.52

    18.00

    2017

    943.41

    29.06

    3,320.07

    21.50

    CAGR Rate

    -

    0.70

    -

    20.09


    (Source: ITC Trade Map)

    This information was given by C R Chaudhary, minister of state of commerce and industry, Government of India, in a written reply in the Lok Sabha recently.


    Source: www.fnbnews.com