Cashew exporters eyeing thriving China market

Cashew exporters eyeing thriving China market

by admin- Tuesday, May 21st, 2019 07:18:35 AM

Indian cashew exporters are now looking at China in a large manner, way to converting food habits and growing intake of cashew a number of the affluent populace there.

However, the cutting-edge import obligation of 10 consistent with cent on cashew kernels is a limiting component for them to penetrate the Chinese market. At the identical time, cashew kernels from Vietnam attract no duty. India’s direct exports to China could be very negligible at present. The Cashew Export Promotion Council of India (CEPCI) has requested the significant authorities to take in the matter with China for decreasing the import duty in order that India can correctly compete with Vietnam and Cambodia, which revel in tariff concessions and loose border exchange.

S Kannan, secretary, CEPCI, said the anticipated Chinese imports of cashew kernel is around 55,000 tonnes and India’s share in it is minimum, rarely one in keeping with cent. However, in latest months, exports are growing at a faster pace. CEPCI has approached the Commerce Ministry to include Indian cashew kernel to qualify for tariff concessions .

The growing marketplace capability, India’s negligible proportion in imports, excess processing capacity and rural employment technology are a few contributing elements to include cashew kernel to qualify for tariff concessions. Along with cashew kernels, he stated, cashew nut shell liquid which is presently exported to China for business applications/paint industries is likewise eligible for inclusion within the gadgets of duty-unfastened import with the aid of China.

There are about five,000 processing devices in India with an annual ability of around 30 lakh tonnes. Given the employment potential and traditional processing capabilities, the industry is using most effective about 7.5 lakh tonnes of raw cashew nuts produced domestically and additionally uploading eight-nine lakh tonnes for processing. With this overall raw nuts availability, the arena is able to meet most effective approximately 55-60 in line with cent of its processing ability, Kannan said.

However, resources in the trade mentioned that India’s cashew exports have come down substantially in the course of April, 2018-January, 2019, to fifty five,272 tonnes, worth ₹three,731 crore. The discern throughout the corresponding length of the preceding 12 months become 73,810 tonnes, valued at ₹5,131 crore.

The opposition from Vietnam has already impacted Indian cashew exports to the USA, which turned into a first-rate marketplace until 2013-14. The cashew shipments to america has now dwindled to 40 per cent as lower manufacturing cost is reaping benefits Vietnam.

The UAE, has now emerged as the single biggest market for Indian cashew with 18,000 tonnes in 2017-18. However, this variety is expected to come back down in 2018-19 because of non- availability of cashew following the closure of greater than 50 consistent with cent of the processing devices because of economic stress. Indian cashew additionally caters to Saudi Arabia, the Netherlands, Japan and Germany.

Indian cashew instructions a premium position abroad resulting from its excellent. To have fun the one centesimal 12 months of Indian cashew exports, CEPCI is launching a logo for Indian cashew to garner a great proportion in the growing remote places markets.

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