New Delhi (PTI): Exports of cashew kernels during February dipped by 4.5 per cent to 7,968 tonnes as the recession hit countries stressed more on essential commodities compared with the wonder nut, which is considered as a luxury item.
During February 2008, cashew kernel exports stood at 8,344 tonnes, according to the data provided by the Cashew Export Promotion Council of India (CEPCI).
"In terms of quantity, exports are hit due to recession faced by many developed nations, who are cutting their export orders of luxury items and giving stress only on the essential commodities," CEPCI Secretary Sashi Verma said from Kochi.
However, in value terms the exports witnessed about 17 per cent increase in exports at Rs 212.77 crore compared with 182.47 crore in the year-ago period.
According to Mr. Verma the rise in terms of value is mainly due to good realisation of cashew kernel at the beginning of the fiscal. The unit value realisation has come down to Rs 267 a kg during February from Rs 297 per kg in the last quarter of 2008, he added.
The cumulative exports in terms of quantity during the April-February period stood at 99,350 tonnes against 1,03,140 tonnes in the corresponding period last fiscal.
In terms of value, exports stood at Rs 2,719.79 crore for the April-February period against Rs 2,033.18 crore in the same period last year.
Imports of raw cashew also saw a fall of over 20 per cent to 49,919 tonnes in February compared with 62,659 tonnes in the same month last year.
Similarly, in value terms the imports witnessed a decline of 5.54 per cent to Rs 239.91 crore against Rs 253.99 crore.
The cumulative imports for the April-February period in terms of quantity showed a marginal rise at 5,89,103 tonnes against 5,73,092 tonnes in the year-ago period.
According to the data, in terms of value imports stood at Rs 2,557.49 crore during April-February period compared with Rs 1,612.37 crore in the previous year.
Source : The Hindu