Cashew consumption fell in India during Q2 and Q3 Supply crunch may cause global cashew prices to remain steady or firm up slightly till March. “The off-take in November – December will determine the trend of kernel activity in January/February. Kernel prices will impact the raw cashew nut (RCN) demand and prices when it is harvested later during the year,” said Pankaj N Sampat of Samson Traders. “RCN prices ($1,400-$1,500 per tonne) are slightly higher than lows reached in April/May. They may come down during the peak of 2021 harvest […]
Cashew industry may face huge losses as processing disrupted
The Federation of Indian Cashew Industry in a letter to the Centre has said around 15,000 tonnes of cashew kernels valued at Rs 9,000 crore are stuck in different stages of processing at the factories across India due to the lockdown. It noted that though food processing has been declared as an essential service, many state governments have not given the permission to operate cashew units. KOCHI: The delay in permission by various state governments to operate processing units has led to an accumulation of cashew nuts at various stages […]
DGFT suspends Licence to export cashew kernels against import of shelled ones.
Move will help small and medium cashew processors, feels industry The Directorate General of Foreign Trade (DGFT) has issued a notice dated January 1, suspending the ad hoc norms approved in July 2018 for the export of cashew kernels (whole and pieces) against the import of shelled cashew kernels. Terming it as a ‘new year gift’ by the government to the domestic cashew industry, Subraya Pai, President of the Karnataka Cashew Manufacturers’ Association (KCMA), told BusinessLine that the DGFT’s notice suspending the ad hoc input-output norm to import ‘Broma’ kernels (shelled and unpeeled) will help small […]