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Cashew exports may take a hit this coming fiscal

 

With nearly 700 processors in Kerala closing down due to non-viable operations, exports of cashew kernel from the country are likely to take a hit in the coming fiscal, a top official of the Cashew Export Promotion Council of India (CEPCI) has said.

 

With banks not willing to offer credit to processors who are running in loss for the last three years, the export of kernel in 2018-19 is likely to fall sharply, Mr S. Kannan, Executive Director and Secretary, CEPCI, said.

 

India exported 84,352 tonnes of kernels valued at Rs 5,870.97 crore in 2017-18 as against 82,302 tonnes valued at Rs 5,168.78 crore in the previous fiscal. The increase is only a marginal 2.5 per cent in volume terms.

 

India produces between 6-7 million tonnes of raw cashew per annum and was till recently the leading supplier of kernels to global markets, reports said.

 

Source: Exim News Service - Kochi, June 13

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