Cashew sector perks up with Onam in sight
The Hindu
Supplyco purchase has come as relief for crisis-ridden industry
With Supplyco gearing to procure 4 lakh kg of nuts for the Onam kit, the cashew sector has finally something to cheer about amidst a major slump. Industry stakeholders believe that the measure can set the sector on the path of revival and help it emerge from the crisis , especially after the alarming fall in demand during COVID-19. “As per the current rate, Supplyco will have to spend around ₹46 crore to procure the product. It is a positive development as the rising demand will lead to an increase in prices,” says Nizamudeen I., president, Federation of Cashew Processors and Exporters.
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