Kochi, July 6

The Covid-19 pandemic has taken a toll on India’s cashew exports with a 41 per cent decline in quantity and 38 per cent in worth in the primary quarter of the present fiscal, in comparison with the corresponding interval of the earlier yr.

Exporters attribute the dismal efficiency to the lockdown that hindered the operations of many cashew factories, hitting abroad shipments and home gross sales.

However, the rising retail gross sales particularly in the US and the EU markets on elevated snacking in May and June have introduced some cheer to the sector, witnessing slight enhancements in export figures.

“There are some positive developments in the export market with increased shipments to the US, Japan, Australia, and Iran in May and June, compared to April in the current fiscal year. There are firm orders from other markets as well,” stated Okay Rajesh of Kerala Cashew Industries Promotion Council.

On the home facet, he stated, the drop was round 40 per cent, particularly for damaged kernels in the upcountry markets of Delhi, Jaipur, Mumbai, and Chennai, amongst others. The sector couldn’t even derive the advantage of declining uncooked cashew costs in the worldwide markets, which got here all the way down to $1,000 per tonne from $1,650-1,700 in 2019.

According to RK Bhoodes, Chairman, Federation of Indian Cashew Industry, the sector has taken measures to spotlight cashew nut as a pure immunity boosting product because of the presence of zinc and different minerals in it. “We are developing a new channel for marketing to boost consumption, emphasising on the health benefits of cashew nut,” he stated.

In upcountry markets, the first stage of consumption was down attributable to Covid-19. But the sector witnessed a 23 per cent rise in secondary stage consumption, thank to elevated offtake from confectionery firms, which, he stated, is a good signal.

Trade analysts Pankaj N Sampat of Samson Traders stated that the cashew sector in India expects a fast and vital revival in demand attributable to decrease kernel costs, supplied the Covid-19 state of affairs improves in the subsequent six to eight weeks. If that occurs, there could possibly be a squeeze in the provision of kernels in the course of the peak consumption interval, which begins in August.

Exports of cashew for the yr 2020-21

Export/Import

April

May

June

2020

2019

% progress

2020

2019

% progress

2020

2019

% progress

Export cashew kernels

Q (tonnes)

2406

4928

-51.18

3334

5068

-34.21

3358.5

5427

-38.11

Value (₹ Cr)

147.24

289.56

-49.15

199.50

292.82

-31.87

206.89

308.50

-32.94

Valud US$

19.56

41.71

-53.10

26.50

41.96

-36.84

27.32

44.4

-38.47

Roasted & Salted cashew

Q (tonnes)

19.31

80

-75.87

21.24

146

-85.45

148.92

172.95

-13.89

Value (₹ Cr)

Value (US$ million)

1.42

0.037

5.51

0.28

-74.28

-86.79

1.39

0.18

11.03

1.58

-87.40

-88.3825

11.25

1.49

12.57

1.81

-10.50

-17.92

Export- Cashew nut shell liquid

Q (tonnes)

152

415

-63.37

159

231

-31.17

162.18

258.83

-37.34

Value (₹ Cr)

0.62

1.94

-68.14

0.61

1.27

-52.20

0.63

1.40

-55.00

Value (US$ million)

0.082

0.79

-89.62

0.08

0.18

-55.20

0.083

0.20

-58.61

Source: Trade knowledge