This generation of Indians have more spending power than any of the others that came before and they have a taste for dry fruits, specially cashew nuts. With the increase in demand of cashews and domestic production unable to keep up with demand, opportunities for import have been growing. Will the recent reduction in import duties for cashews boost profits for importers? The Dollar Business analyses.
By Anishaa Kumar | March 2018 Issue | The Dollar Business
Cashews were first introduced to Indians by the Portuguese in early 16th century. These nuts, indigenous to Brazil, found Indian soil to be a great fit for their nutritional requirements and spread across the country. Over the next two centuries, cashews made a place for themselves in Indian fields and Indian hearts.
India’s centuries-old love affair with cashews nuts got a new lease of life as the present generation of Indians grew more health conscious. For, cashew nuts are believed to be high in heart-healthy oils and antioxidants. Experts are touting these nuts as a superfood which can reduce the risk of heart disease, help with weight loss, prevent and even cure anaemia. India, which is getting younger and healthier each year, is seeing a rise in the demand for cashew nuts. But it would be wrong to credit the entire phenomena to the new generation of Indians. Even before people knew of cashew’s health benefits, the nut was used in various cuisines all over the sub-continent. Cashews are used in various Indian dishes to add richness and texture to the food. They are also an integral part of dry fruits boxes, which are a popular gift item during festive seasons.
Domestic production has proven to be insufficient to keep up with the growing ...