This generation of Indians has more purchasing power than any of the previous ones and they like dried fruits, especially cashew nuts. With the increase in demand for cashew nuts and domestic production unable to meet demand, import opportunities have increased. Will the recent reduction in import duties on cashew nuts increase importers' profits? Analysis of The Dollar Business. You can expect to get the profit margin from processing cashew nuts for the first year that will be.
In the local market, raw and roasted cashew nuts are a cost-effective mass consumer product. Nearly all grocery stores, supermarkets, and malls sell these items regularly. In addition, bakeries, confectioneries, hotels, candy stores and restaurants are the main bulk consumers of cashew nuts. Some cashew nut traders in the country believe that Vietnam's growing interest in cashew nut imports is proving to be a challenge for both Indian importers and exporters.
Meanwhile, increased awareness of health benefits and population growth are likely to drive a slow but steady growth in demand for cashew nuts in India. Dhaval Vora, director of King Agro Processors, based in Mumbai, says that most Indian importers prefer cashew nuts produced in these areas because they have white grains. If the shipment takes one or two months to reach port, the change in market price during that period may affect profits. While Sri Lanka processes and sells many of its own cashew nuts domestically, other countries export much of what they grow.
In fact, the cashew nut fraternity expected the withdrawal of import duties and CEPCI had made this the first point of its strategic plan presented to the government. Cashew nuts serve as a source of energy, nutrition, vitamins and antioxidants, which is beneficial to the human physical state and also helps us defend ourselves against a disease such as cancer. Indian importers can see the potential of cashew nuts in terms of domestic consumption and re-export. The main products for industrial applications are cashew lacquer, insulating varnishes, electrical windings and electrical conductors impregnated with CNSL and cashew cement (CSNL reacts with formaldehyde).
Cashew nuts are fragile, so factories used to do this step manually to make sure the machines didn't break the nuts. And Indian importers will also be prepared when the next big opportunity presents itself in the cashew market. Make the choice purposely taking into account accessibility to the prepared market and also from transportation to the available raw cashew nut. Rakesh Patel, from Aksh Overseas, an importer of cashew nuts based in Ahmedabad, explains: “While there are many companies that are engaged in the business of importing cashew nuts to India, the number of companies that really do well is limited, as they cannot find an exporter who can consistently provide them with high-quality products.
Kannan, executive director and secretary of the Indian Cashew Nut Export Promotion Council (CEPCI), said: “CEPCI warmly welcomes the government's decision to reduce the import tariff on raw cashew nuts from 5% to 2.5%.