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

Truman Slate

Kochi, July 6

The Covid-19 pandemic has taken a toll on India’s cashew exports with a forty one for every cent decline in amount and 38 for every cent in worth in the initial quarter of the recent fiscal, in comparison to the corresponding period of the previous year.

Exporters attribute the dismal overall performance to the lockdown that hindered the functions of a lot of cashew factories, hitting abroad shipments and domestic income.

However, the climbing retail income in particular in the US and the EU marketplaces on increased snacking in Might and June have introduced some cheer to the sector, witnessing slight enhancements in export figures.

“There are some good developments in the export current market with increased shipments to the US, Japan, Australia, and Iran in Might and June, in comparison to April in the recent fiscal year. There are company orders from other marketplaces as properly,” reported K Rajesh of Kerala Cashew Industries Advertising Council.

On the domestic aspect, he reported, the fall was close to 40 for every cent, in particular for damaged kernels in the upcountry marketplaces of Delhi, Jaipur, Mumbai, and Chennai, among the other folks. The sector could not even derive the advantage of declining raw cashew costs in the intercontinental marketplaces, which arrived down to $1,000 for every tonne from $1,650-1,seven-hundred in 2019.

In accordance to RK Bhoodes, Chairman, Federation of Indian Cashew Business, the sector has taken measures to spotlight cashew nut as a natural immunity boosting product thanks to the existence of zinc and other minerals in it. “We are acquiring a new channel for internet marketing to raise intake, emphasising on the wellness rewards of cashew nut,” he reported.

In upcountry marketplaces, the main amount of intake was down thanks to Covid-19. But the sector witnessed a 23 for every cent rise in secondary amount intake, thank to increased offtake from confectionery providers, which, he reported, is a great indication.

Trade analysts Pankaj N Sampat of Samson Traders reported that the cashew sector in India expects a fast and important revival in desire thanks to reduce kernel costs, furnished the Covid-19 problem enhances in the subsequent six to 8 months. If that takes place, there could be a squeeze in the availability of kernels through the peak intake period, which commences in August.

Exports of cashew for the year 2020-21

Export/Import

April

Might

June

2020

2019

% expansion

2020

2019

% expansion

2020

2019

% expansion

Export cashew kernels

Q (tonnes)

2406

4928

-51.eighteen

3334

5068

-34.21

3358.5

5427

-38.11

Price (₹ Cr)

147.24

289.56

-49.fifteen

199.50

292.eighty two

-31.87

206.89

308.50

-32.94

Valud US$

19.56

forty one.seventy one

-fifty three.10

26.50

forty one.96

-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

-thirteen.89

Price (₹ Cr)

Price (US$ million)

1.42

.037

5.51

.28

-74.28

-86.79

1.39

.eighteen

11.03

1.58

-87.40

-88.3825

11.twenty five

1.49

twelve.fifty seven

1.eighty one

-10.50

-17.92

Export- Cashew nut shell liquid

Q (tonnes)

152

415

-63.37

159

231

-31.17

162.eighteen

258.83

-37.34

Price (₹ Cr)

.62

1.94

-68.14

.sixty one

1.27

-52.20

.63

1.40

-55.00

Price (US$ million)

.082

.79

-89.62

.08

.eighteen

-55.20

.083

.20

-58.sixty one

Resource: Trade data

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