Cashew exports earn US$ 570 million

Kochi, Oct 18 (UNI) Cashew exports earned foreign exchange amounting to US$ 570 million during 2005-06, contributing 0.56 per cent of the country's total export earnings, Cashew Export Promotion Council of India Chairman Walter D'Souza said.

Addressing the 51st annual general meeting of the council here yesterday, Mr D'Souza said the export of cashew kernel during 2005-06 was valued at US$ 568 million compared to US$ 603 million during the previous year, recording a decline of 7.17 per cent in value terms.

However, the average unit export price realised during the year was Rs 220 per kg compared to Rs 213 the previous year, a rise of three per cent. Other allied exports included cashewnut shell liquid.

Mr D'Souza said the inclusion of cashew in the 'Vishesh Krishi Upaj Yojana' (VKUY) of the Union Commerce Ministry was expected to give a boost to cashew exports.

During 2005-06, the US continued to be the major buyer, accounting for 37.80 per cent of total exports in quantity and 38.11 per cent in value terms. The Netherlands was the second largest. The other buyers were Europe, Middle-East and Africa and South-East Asia.

Import of raw cashewnut into India during the year was valued at Rs 2,162 crore as against Rs 2,190 crore the previous year.

Stressing the need to increase indigenous production of cashew, he said domestic availability was less than half the total installed processing capacity of 12 lakh tonnes per annum.

'Kaju India' was a major international buyer-seller meet at Kovalam last month, attended by delegates from all major importing countries.

Later, Mr D'Souza was unanimously reelected council chairman while Mr Babu Oommen was reelected vice-chairman, a council release said here today.

UNI ARC AA 1930