Kerala's already struggling plantation sector, especially cashew, spices and rubber, suffered another jolt this month with the rupee strengthening against the US dollar.
The rupee appreciation has caught the exporters here unawares and they are now struggling to reduce their losses. The US being the largest importer, majority of Indian commodity exports is dollar-denominated.
Experts point out that the current appreciation has been quick and has taken place over a short period of time, thus making it difficult to make up for the adverse impacts of the increase immediately.
For cashew, the rupee appreciation is hurting the industry badly as competition from Vietnam and substitute products like almonds and hazelnuts are price sensitive.
Exporters are losing Rs 100,000-150,000 per container of cashew nuts now, said a Kochi-based
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