Current Trends in Cashew Kernel Exports
Recent Indian government statistics indicate an encouraging trend in the export of processed cashew kernels for the current financial year when juxtaposed against the previous year. A detailed report from the Agricultural and Processed Food Products Export Development Authority (APEDA) – an arm of the Central Commerce Ministry – reveals that there was an export of 18K tonnes of processed cashew from the country between April to August 2022. This figure is projected to see a boost of 2K tonnes, reaching a total of 20K tonnes, for the same timeframe in 2023. Correspondingly, there’s been a notable increment of 2.20 percent in export earnings during this period, escalating from 134 million dollars to 137 million dollars.
Cashew Nut Shell Liquid Exports
While the export volume for cashew nut shell liquid remained static at 4K tonnes, mirroring last year’s statistics, an intriguing twist surfaced in its export income. There was a substantial surge of 23.30 percent, albeit the net worth decreased from 4 million dollars to 3 million dollars. This contraction in value can be primarily attributed to the diminished average unit export offer price. Nevertheless, the combined export revenue of processed cashew kernel and cashew nut shell liquid has experienced a rise of 1.45 percent, moving from 138 million dollars in April-August 2022 to 140 million dollars in April-August 2023. The global appetite for cashew seems to maintain a steady pace.
Domestic Cashew Market Dynamics
On the domestic front, buoyed by the festive season fervour, the cashew trade is flourishing. India holds a dominant position on the global stage, not only as a prolific producer and exporter of cashews but also as a primary consumer. Given the substantial domestic market for cashews in India, exporters often prioritize the local market over foreign trade. Historically, up until the 90s, India was recognized as the world’s paramount producer and exporter of cashews. However, over the years, Vietnam has ascended the ranks, eventually usurping India’s top position in global cashew exports.
In the current scenario, cashews remain a globally sought-after commodity, with dynamic shifts in export trends and a robust domestic market in India underscored by rising consumption and festive demand.