Cashew kernel exports dip 17% in Q1

KOCHI: Export of cashew kernels has registered a 17.2% decline in value terms to Rs 608.1 crore during the April-June period of the current fiscal.

The exports stood at Rs 735.1 crore during the same period of the previous year, reports Our Bureau. In quantity terms, the exports fell by 9.4% during the first quarter to 29,273 tonnes. As compared to this the exports stood at 32,326 tonnes during the corresponding period of the previous year.

In dollar terms also, the export of cashew kernels fell by 18.3% to $133.7m. The unit value of exports stood at Rs 207.8 per kg during the April-June period as compared to 227.4 for the same period a year ago. Sources said that the emergence of Vietnam as a major supplier of cashew kernels in the international market was the reason for the decline in exports.

The import of raw cashew nuts also registered a 22.3% in quantity terms and stood at 120,864 tonnes during the first quarter of the current fiscal. In value terms, the imports fell by 38.4% to touch Rs 608.2 crore in Q1.