Cashew is slowly losing its export market as domestic consumption increases substantially and raw cashew imports get costly. Indian production of raw cashew is on the lower side and imports from West Africa is turning costly due to problems in some countries. Latest figures made available by the Cashew Export Promotion Council (CEPC), suggest that exports during the last FY is significantly lower than the preceding years.During the April-January period of 2010-11, exports from Indian declined by 25.5 % in volume and 9. 4% in value over the comparable period of the last FY.
Exports during the ten-month period stands at 76,120 tonne as against 1,02,177 tonne during the comparable period of 2009-10. During 2009-10 India exported 1,08,120 tonne of processed cashew valued at R2905.82 crore as against 1,09,522 tonne valued at R 2988.40 crore during 2008-09.
The global cashew trade is estimated at around 5, 13,750 tonne on Kernel basis in 2010. Due to weather problems in most growing areas raw seed production was down by 15-20% in 2010.
Meanwhile, nut consumption has been robust. India, China and the Middle Eastern markets have registered double-digit growth. Asia, China and West Asian markets are the new growth engines of nut consumption, sources said.
?Indian imports of raw cashew from West Africa is lower in the current season. Larger quantities were taken by Vietnam in addition to the 30,000-35,000 tonne procured by Brazil,? Pankaj Sampat of Samsons Trading told FE. Higher prices are making the buyers wary of buying volume for longer spreads and some are also changing pack sizes and blends, he added.
India has to import more than half of its requirement of raw cashew due to the poor productivity of its cashew plantations.
?The next few weeks will show whether the off take will be same as last year despite the higher prices,?? Pankaj said.