Home   >   NEWS & VIEWS   >   News

  • Strong domestic demand to help cashew industry achieve 15% revenue growth in FY23: Report 01/23/2023

    Jan 23rd, 2023

    Due to rising domestic demand, the Indian cashew processing industry is expected to witnesses a 15 per cent year-on-year growth in revenue, taking the industry beyond Rs 30,000 crore in this and the next financial year, according to a Crisil Ratings report. According to the report published on Thursday, India remains the world's largest consumer of cashews, processing almost half of the global cashew kernels and consuming 40 per cent of the global output. Currently, India is only exporting 10 per cent of its entire output, 35 per cent less than the pre-pandemic times. This is also due to the rising domestic demand, the report stated.