<p>Imports of Raw Cashew Nuts (RCN) has soared significantly so far during the current fiscal as the indigenous production of the raw material failed to keep pace with industry demand.</p> <p>In fact, imports during the first eight months of the current financial year have surpassed the projected official production figures for 2014-15.</p> <p>The total imports during April-November 2014 soared to 7,84,462 tonnes valued at ₹5,332.80 crore from 6,35,020 tonnes valued at ₹3,475.72 crore in the corresponding period last year.</p> <p>Where as, the first official first advance estimate for the current financial year has put the production at 7,73,490 tonnes against the output of 7,36,560 tonnes in 2013-14.</p> <p>Cashew industry is claimed to have a capacity to process over two million tonnes of raw cashew nuts for keeping factories running for over 200 days a year. Interestingly, despite being a major importer of the raw nuts, India has, probably for the first time, shipped out 14,152 tonnes valued at ₹122.34 crore during the period under review against 3,333 tonnes in the same period last year.</p> <p>Much of the shipments of raw nuts were said to have been to Vietnam, where the Indian cashew processors have established processing facilities. They are believed to be shipping out from the imported raw nut stocks to their units in Vietnam, trade sources said The total area under cashew in the country has been on the rise and has increased to 10,27,200 hectares spread over 16 States from 10,07,695 hectares in the last fiscal, according to sources at the Directorate of Cashew and Cocoa Development Directorate under the Union Ministry of Agriculture.</p> <p>Maharashtra continued to stay on top as the major producer with an estimated output of 2,48,010 tonnes from a total area of 1,86,200 ha in the current fiscal against 2,36,200 tonnes from 1,84,200 ha in 2013-14. Maharashtra is followed by Andhra Pradesh, Odisha and Karnataka.</p> <p>Even though the winter demand has raised the volume of exports in October and November, the total shipments during the first eight months of current fiscal continued stay far below the shipments during the same period in the previous financial year, Sasi Varma, Executive Director and Secretary, Cashew Export Promotion Council of India, told BusinessLine.</p> <p>He said the country has shipped out 78,825 tonnes of cashews in April-November 2014 valued at ₹3,473.58 crore at an average unit value of ₹440.67 a kg.Whereas, in the corresponding period last year it stood at 82,772 tonnes valued at ₹3,411.94 crore at the average unit value of ₹412.21 a kg.“Despite the high kernel prices, overseas consumers have started buying it for the festival season. During winter, more quantities are sold in the domestic market also,” he said.</p> <p> </p>