Cashew has increased due to low domestic production and high prices in the international markets. And there are chances of further growth in this dry fruit.
19% reduction in cashew production
The latest survey report shows an 18-19% reduction in cashew production this time. On the other hand, high prices of cashew in the international markets lead to imports.
Due to unfavourable weather in the international markets, the production of cashew nuts has decreased by 22 to 25% in European countries. On the other hand, cashew production in Goa and Kerala is low due to heavy rains in the past. Further, due to a lack of business for the last 8 months, the stockists have cut off their goods at one and a quarter price. Now the stock of cashew has decreased in all major shops, including Delhi, Amritsar, Jaipur, Kanpur, and Indore.
The government encourages cashew nut exporters
The export of cashew nuts from New Delhi is continuously decreasing. Cashew exports have been declining for the last 11 months due to increased competition in the international market. Stats suggest that exports fell by 38% to $2.271 billion in September this year. Therefore, it is expected that the central government will encourage Indian exporters to export cashew nuts.
Additionally, Indian cashew is much better than Vietnam’s, and the domestic price is 15% higher than regulated prices. Thus, the traders prefer selling locally rather than exporting to get better prices. Looking at circumstances like weddings, cashew trading can become a cash cow for stockists and traders. Thus, a bright short-term future for cashew is ahead.
The Cashew nuts W240 prices were recorded at $8,82 per kg FOB
Import/Export Statistics
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