APEDA’s Mission
In a significant development for India’s agricultural export sector, the Agricultural and Processed Food Products Export Development Authority (APEDA) has initiated a strategic plan to revive India’s position in the global cashew market. This move comes after India lost its leading role to Vietnam in 2002, following Vietnam’s modernization of its cashew processing with support from the United States.
APEDA is also exploring new markets for Indian cashews in Japan, the European Union, South Korea, Taiwan, and Australia.
Further, the Kerala High Court recently lifted a previous stay, enabling APEDA to take over the cashew export promotion activities from the Cashew Export Promotion Council of India (CEPC) based in Kerala.
Upcoming Exports and Destinations
APEDA’s Chairman, Abhishek Dev, revealed that the organization is set to facilitate significant cashew exports to various countries, including over 30 tones to Qatar and Malaysia from Tamil Nadu and to the United States from Kerala, coinciding with World Cashew Day on November 23. Additionally, 2 tones of cashews from Odisha are scheduled for road transport to Bangladesh next month.
With the anticipated modernization of processing units and the support of Farmer Producer Organizations (FPOs), India’s cashew industry is poised for a promising future.
Competitive Challenges & Data
Despite the quality and taste of Indian processed kernels being superior, Vietnamese kernels have gained preference in the global market due to their lower cost.
Recent data shows a decline in India’s cashew exports, dropping to $332.87 million in the 2022-23 period from $873.16 million in 2017-18. The United Arab Emirates and the Netherlands have been the largest importers of Indian cashew kernels.
Conclusion: India vs. Vietnam in Global Exports
In contrast, Vietnam’s cashew exports surged to $2.95 billion from January to October 2023, a 15.9% increase from the previous year, with a government target set at $3.1 billion for the calendar year 2023.
Import/Export Statistics
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