Exports of Indian cashew kernels jumped in December to rise above figured from the same time last year, finishing on a good note a year that had seen an overall decline in exports.
But an increase in cashew nut imports during 2009 was greater than the entire volume of exports, a result of lower pricing, reported The Hindu Business Line.
April-December Indian cashew exports in 2009 hit 82,053 tonnes valued at Rs2.2bn (US$47.9m), down from 2008’s 84,079 tonnes for Rs2.32bn (US$50.5m).
December exports clocked in at 10,136 tonnes, up from 8,272 tonnes in December 2008.
“There has been improvement in demand in recent months due to the decline in the unit value of cashew kernels when the prices of other tree-nuts are on the rise and the gradual recovery from the economic recession in the major consuming countries,” Sasi Varma, secretary for the Cashew Export Promotion Council of India (CEPC) told Business Line.
Imports of raw cashews in the April-December period hit 639,536 tonnes, up from 515,573 tonnes in the same period the year before.
The increase was attributed to lower pricing; an average of Rs38.43 per kg versus Rs42.84 in 2008, reported Business Line. Prices have continued to slide coming into 2010, the report said.
Northern Hemisphere suppliers are expecting a good season this year, including India, although accurate forecasts will not be available until around April.
