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Article: Indian cashew exported volume fall steepened
15 July 2020
Indian cashew exports fell by 11% in value to USD88.2 million
but increased by 9.8% to 11,027 tonnes from January -February 2020
compared with the same period the last year, according to the
Indian government.
Exports have relied on low prices, whose fall steepened.
There is expected to be a record fall in H1 2020 due to the
lockdown.
The UAE and the Netherlands were the main importers, accounting
for 22.5% and 22.0%, respectively, of the total volume.
Meanwhile, Indian imports of raw cashew nuts trebled y-o-y to
95,500 tonnes. Processors decided to take advantage of the low
Tanzanian price, whose product has better quality than the western
African origins.
As a result, Tanzania accounted for three thirds of the total
supplied volume, against zero records between January and February
2019 when its government decided to acquire all the domestic crop
due to weak prices in Q4 2018.
Currently, most of Tanzania's output is commercialised by the
Vietnamese trader T&T.
