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Covid-19 fallout: Cashew exports in both quantity and value, take a hit in Q1

Kochi, July six

The Covid-19 pandemic has taken a toll on India’s cashew exports with a forty one for each cent drop in amount and 38 for each cent in benefit in the initially quarter of the latest fiscal, when compared to the corresponding interval of the preceding 12 months.

Exporters attribute the dismal effectiveness to the lockdown that hindered the functions of numerous cashew factories, hitting abroad shipments and domestic income.

Even so, the growing retail income primarily in the US and the EU marketplaces on increased snacking in May and June have brought some cheer to the sector, witnessing slight enhancements in export figures.

“There are some positive developments in the export market place with increased shipments to the US, Japan, Australia, and Iran in May and June, when compared to April in the latest fiscal 12 months. There are firm orders from other marketplaces as nicely,” explained K Rajesh of Kerala Cashew Industries Promotion Council.

On the domestic aspect, he explained, the drop was all around forty for each cent, primarily for broken kernels in the upcountry marketplaces of Delhi, Jaipur, Mumbai, and Chennai, amongst other folks. The sector could not even derive the reward of declining raw cashew price ranges in the international marketplaces, which arrived down to $one,000 for each tonne from $one,650-one,seven hundred in 2019.

According to RK Bhoodes, Chairman, Federation of Indian Cashew Industry, the sector has taken measures to emphasize cashew nut as a all-natural immunity boosting product or service because of to the presence of zinc and other minerals in it. “We are creating a new channel for internet marketing to boost intake, emphasising on the health rewards of cashew nut,” he explained.

In upcountry marketplaces, the most important stage of intake was down because of to Covid-19. But the sector witnessed a 23 for each cent increase in secondary stage intake, thank to increased offtake from confectionery organizations, which, he explained, is a very good signal.

Trade analysts Pankaj N Sampat of Samson Traders explained that the cashew sector in India expects a quick and sizeable revival in demand because of to decreased kernel price ranges, furnished the Covid-19 scenario improves in the up coming 6 to eight weeks. If that comes about, there could be a squeeze in the availability of kernels for the duration of the peak intake interval, which begins in August.

Exports of cashew for the 12 months 2020-21

Export/Import

April

May

June

2020

2019

% expansion

2020

2019

% expansion

2020

2019

% expansion

Export cashew kernels

Q (tonnes)

2406

4928

-fifty one.eighteen

3334

5068

-34.21

3358.five

5427

-38.eleven

Value (₹ Cr)

147.24

289.56

-forty nine.fifteen

199.50

292.82

-31.87

206.89

308.50

-32.ninety four

Valud US$

19.56

forty one.71

-53.10

26.50

forty one.ninety six

-36.84

27.32

forty four.four

-38.47

Roasted & Salted cashew

Q (tonnes)

19.31

80

-75.87

21.24

146

-eighty five.45

148.92

172.ninety five

-13.89

Value (₹ Cr)

Value (US$ million)

one.forty two

.037

five.fifty one

.28

-74.28

-86.79

one.39

.eighteen

eleven.03

one.58

-87.forty

-88.3825

eleven.twenty five

one.forty nine

12.fifty seven

one.81

-10.50

-seventeen.92

Export- Cashew nut shell liquid

Q (tonnes)

152

415

-63.37

159

231

-31.seventeen

162.eighteen

258.83

-37.34

Value (₹ Cr)

.sixty two

one.ninety four

-68.14

.61

one.27

-52.20

.63

one.forty

-fifty five.00

Value (US$ million)

.082

.79

-89.sixty two

.08

.eighteen

-fifty five.20

.083

.20

-58.61

Source: Trade info