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  • Raw Nut Prices Worry Cashew Exporters

    Mar 17th, 2017

    High cost of imported nuts, strengthening rupee hamper exports; Kernel exports up 17% in Jan.The steep price of imported raw nuts continues to be a worry for cashew exporters. Many factories that downed shutters due to the cash crunch following demonetisation, have gradually resumed operations. But they have been hampered by costly imported raw nuts and an appreciating rupee.

    “At $4.5 to 4.7 per pound (.`650680kg), the export price of cashew kernels is not at par with price of imported raw nuts what is averaging around $2,000 per ton,“ said Pankaj N Sampat, direc tor of Mumbai-based Samson Traders. Cashew kernel prices which had risen to $4.90 per pound dropped to $4.50 at the time of demonetisation. But it improved slightly in January 2017 which helped boost exports.

    Cashew kernel exports at 8,680 . 586 crore in Jatons valued at ` nuary is up 17% in quantity and 46% in value from a year ago.This jump has pulled down overall decline in shipments during the fiscal. The ten-month exports ended Jan 2017 stood at 70,0049 tons valued at ` . 4,326 crore.This showed a 14% fall in quantity. At the same time, value witnessed a 4% rise. Till November last year, quantity had fallen 28% from a year earlier. Although price of raw nuts from Tanzania and Indonesia earlier were higher, the quality was superior. “Now the quality of raw nuts from west African countries is not that good. This reflects on kernels processed from them,“ said P Sundaran, chairman, Cashew Export Promotion Council of India.