<p>Cashew exports continued to decline during the current fiscal so far, while imports of cashew kernels are gaining momentum. Exports during April-November stood at 60,585 tons valued at ` 2,477.42 crore against 74,093 tons valued at ` 3,002.34 crore in the corresponding period the previous fiscal.</p> <p>During the first eight months of the current financial year, the average unit value increased to ` 408.92 a kg from ` 405.21 in the same period a year ago. However, the unit value fell to ` 395.60 a kg in November whereas it was at ` 443.59 in November last year and notwithstanding exports in November fell to 7,549 tons valued at ` 298.63 crore from 9,377 tons valued at ` 415.96 crore in the same month last year. Availability of other tree nuts at competitive prices coupled with the unfavourable economic conditions prevailing in traditional overseas markets impacted the demand for cashew kernels, export sources told Business Line.</p> <p>The traditional and other markets overseas were quiet last week, Pankaj N. Sampat, a Mumbai-based dealer, told Business Line. The domestic market saw some inquiries but not much business was done.</p> <p>China is reported to be buying selectively in Vietnam but volumes are small, market sources said.</p> <p>Range of prices remained unchanged and was for W240 from $3.70-3.85; W320 $3.30-3.45; W450 $3.05-3.15; SW $2.60-3.10; SSW $2.40-2.50, splits $2.05-2.20 and pieces from $1.45-1.70 an lb (f.o.b). Despite limited activity for over a month until week before last, there has not been much change in kernel prices. Some processors offered at the lower end of the range and the offers were quickly picked up. But, in general, most processors were reluctant to sell at lower levels, as they probably expect to pick up after the holidays, he said.</p> <p>India has, probably, for the first time according to official statistics, imported 3,245 tons of cashew kernels valued at ` 53 crore at a unit value of ` 163.38 kg during April-November. Imports in November stood at 298 tons at unit value of `194.96 a kg. According to the Cashew Export Promotion Council of India, import of cashew kernels through ‘mis-declaration’ and under-invoicing has become rampant and that, in turn, has badly affected the domestic industry.</p> <p> </p>