India's cashew nut exports fall 16% despite domestic growth

For the second successive year India's cashew export volume has fallen in 2016-17. This comes despit…

For the second successive year India's cashew export volume has fallen in 2016-17. This comes despite growth in domestic consumption of the nuts.

It fell by 16 per cent to 81,110 tonnes. In the year before it had declined by 19 per cent to 96,346 tonnes. At the same time, domestic consumption has touched 3 lakh tonnes and is growing at 5-6 per cent annually.

According to the provincial data by The Cashew Export Promotion Council of India (CEPCI), the export value has risen marginally by 3 per cent for 2016-17 reaching Rs 5,077 crore because of the better prices fetched by the cashew kernels towards the end of the year.