Cashew exports plunge to two-decade low

India’s cashew exports have dropped to a two-decade low in 2018-19, falling by 20% YoY to 66,693 tonnes and by 24% YoY in value terms to Rs 4,434 crore. Export quantities stood at around 100,000 tonnes till a few years back. But the quantity has dropped over the years due to tough competition from Vietnam and other countries who have cheaper processing costs. According to Mr S Kannan, Executive Director, Cashew Export Promotion Council of India, exporters have been discounting their exports and making up for lower margins through sales in the domestic market. But over the past few years, imports of cheap cashew kernels have impacted sales.