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Mangalore: UAS holds 'Cashew Field Day'
KCMA says Cashew slumped in price
By Team Mangalorean/www.mangalorean.com
Photographs: Rajesh Shetty
MANGALORE, March 19, 2008: The Karnataka Cashew Manufacturers Association
(KCMA) the Mangalorean born state level apex body of the Cashew growers has
averred that the Cashew as a commercial commodity had felt a slight slump in
the international market, basically due to the rupee appreciation in the world
money market.
President of the KCMA Prakash Rao Kalbhavi delivering a lecture at the
'Cashew Field Day' organized by Agricultural Research Station of UAS, branched
at Ullal Kapikad in the city today Mr. Kalbavi stated that Indian cashew rates
should level off at Rs. 40 per kg of raw cashew and by the beginning of the new
financial year things might start looking up he hoped.
Stating that the slump was also partially due to a minor abrasion of market
where devaluation of currencies happening all across the world particularly in
the cashew growing areas. He said one of the main exporting countries like
Vietnam produced 2000 kgs of cashew per annum per hectare, Indian output was
roughly 650 kgs per hectare which was due to the old plantation. He said the
Cashew Export Promotion Council of India has been working towards achieving
18-lakh tonnes of cashew by the year 2020.
Mr. Kalbavi's report on the market and consumption level of the Cashew
kernels stated that the internal consumption of cashew was growing by 10 to 12
per cent per annum. While the demand for processed cashew was growing by eight
per cent per annum in India, the production level had not shown the same level
of growth, he lamented. This had forced India to import cashew from Africa and
Vietnam he said. India exported 12 lakh tonnes of processed cashew last year
earning it foreign exchange of Rs. 2,800 crore. India at the same time imported
Rs. 1,900 crore worth raw cashew, resulting in net savings of Rs. 900 crore.
The report stated that the cashew exports from Karnataka, was to the tune of
350 crore rupees.
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