Master plan to revive cashew sector

A high-level meeting attended by Finance Minister K.N. Balagopal and Industries Minister P. Rajeev has decided to formulate a master plan for the modernisation and diversification of cashew industry.

Based on the plan, the government will offer required financial support to strengthen the ailing sector. The decision was taken at a meeting of trade unions and processors convened to discuss the problems and possibilities in the cashew sector. A review meeting to assess the performance of the Kerala State Cashew Development Corporation’s (KSCDC) and Kerala State Cashew Workers Apex Industrial Cooperative Society (Capex) was also held.

The meeting observed that the rising prices of raw cashew nut and the increase in import duty have put the cashew industry in crisis. The participants pointed out that the cost of production in Kerala is more than double compared to other states and the lack of modernisation as the main reason. The master plan will also focus on addressing the issues related to marketing and the manufacturing of value added products. The assistance of professional agencies will be sought for this and RIAB will be responsible for overseeing KSCDC and Capex. Corporation chairman S. Jayamohan said that no working day was lost in government-run factories since the government came into power.

The Cashew Board was instructed to procure quality raw cashew nuts when it is available at affordable prices in the international market. The processors complained that some banks were not implementing the provisions of the one-time settlement formula and the ministers assured that they would intervene in the matter. KSCDC chairman S. Jayamohan, Capex Chairman G. Sivasankara Pillai, trade union leaders K. Rajagopal, B. Tulsidhara Kurup,A.A. Aziz, B. Sujeendran, G. Lalu, Koketh Bhaskaran and Sooranad Sreekumar were among those who present.

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Printable version | May 16, 2022 8:22:11 pm |