India’s Cashew kernel exports set to fall on waning interest from processors

India’s Cashew kernel exports set to fall on waning interest from processors

by admin- Friday, June 8th, 2018 06:18:12 PM

Cashew kernel exports from the us of a are in all likelihood to head down inside the coming fiscal with almost seven-hundred processors in Kerala shutting keep due to nonviable operations, a pinnacle official of the Cashew Export Promotion Council of India (CEPCI) said.

With the banks unable to provide credit score to processors who’re inside the pink for the remaining 3 years, the export of kernel in 2018-19 is probable to fall sharply, CEPCI said.

India produces 6-7 million tonne uncooked cashew in step with annum and was till currently the main dealer of kernels to the worldwide markets.

India exported eighty four,352 tonne of kernels worth Rs five,870.Ninety seven crore in 2017-18 as in opposition to 82,302 tonne worth Rs 5,168.Seventy eight crore inside the previous fiscal. The boom is most effective marginal at 2.5% in volume phrases.

The growing cost of raw cashews imported from Western Africa and the higher processing fees in Kerala due to the rather better labour expenses has compounded the hassle.

“Raw cashew costs have long past up by way of three times within the previous couple of years when the kernel fees have most effective accelerated via 15% over the identical length,” CEPCI stated.

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