India's Cashew exports dropped for second successive year in 2016-17, down 16% to 81,110 tonnes, according to the provincial data by the Cashew Export Promotion Council of India (CEPCI).
At the same time, domestic consumption has touched 0.3 million tonnes and is growing at 5-6 per cent annually.
According to CEPCI, the export value has risen marginally by 3% for 2016-17 reaching Rs 5,077 crore because of the better prices fetched by the cashew kernels towards the end of the year.
The fall in quantity to limited availability of imported raw nuts mainly due to the imposition of 9.36 per cent duty from last year, high price of raw nuts and poor production in India, CEPCI noted.
The duty was imposed to prevent local traders from misusing free import norms. But it has become an impediment for the exporters, CEPCI said.