The Hindu Business Line : Cashew exports up

CASHEW exports during the first half of the current fiscal registered an increase both in terms of value and quantity over the corresponding period last fiscal.

A total quantity of 49,843 tonnes valued at Rs 939.04 crore was exported during April-September 2002 as against 42,801 worth Rs 860.50 crore last year, a rise in quantity by 7,042 tonnes and in value by Rs 79.14 crore.

Attributing the increase to the recovery from the after effects of September 11 terrorist attacks in the US, Mr Sasi Verma, Secretary, Cashew Export Promotion Council of India (CEPC), said exports during the current fiscal was expected to touch an all-time high of one lakh tonnes with a value of over Rs 2,000 crore.

He said in a bid to boost the exports of cashew kernels in the US and Japan, a study would be conducted by two expert agencies. The Union Commerce Ministry had allocated Rs 1 crore for this study to be held under its Market Access Initiative Scheme (MAIS), he said.

Tata Consultancy Services (TCS) has been entrusted with the study in the US markets, while KPMG would be doing it in Japan.

A contract with these two agencies will be signed in the first week of November. They will mainly find out what is to be done to promote Indian cashew in these two countries.

Such studies would be extended to other markets such as European Union and West Asia in a phased manner, he said. Similar studies had been planned in Russia also.

Following the opening up of the Russian market now there was a good potential for Indian cashew there, he pointed out. The CEPC is planning to participate at a fair in Moscow and the clearance from the Union Government is expected, he said.

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