|Subject||Cashew kernel exports fall|
Bangalore : After a record rise in cashew kernel exports last year, exports of the commodity have seen a decline in the first two months of this financial year, owing to a shortage of raw cashew nuts. A decline in production in India and African countries led to the shortage.
For April and May this year, kernel exports stood at 15,715 tonnes, compared with 19,904 tonnes in the corresponding period last year, a decline of 21 per cent.
“The availability of raw cashew nuts was lower during the fourth quarter of last financial year; this was processed and exported in the months of April and May. Though the processors imported a higher quantity in the first two months, they faced a shortage in the preceding months.
In addition, the prices of raw nuts rose significantly, adding to the cost of processors,” said Rahul Kamath, partner at Mangalore-based Bola Surendra Kamath and Sons.
Source : dailyshippingtimes.com
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