Despite a growing demand for cashew nutsin the State, it’s prices have been falling. The rate that was quoted at the start of the season fell to ₹115 per kg from ₹123. This trend has caused much concern among the cashew plantation owners who are struggling to cover the cost of production.
In the recently concluded budget session, the government had announced that cashew nut producers would be offered ₹150 per kg. However, despite a steep hike from the market rate, the farmers have claimed the the rate estimated by the government is low and demanded for it to be hiked even further.
Arrival of cheap cashews result in price decline
The season for cashew nuts begins in February. At the start of the season the nuts were sold for ₹123 per kg. However, by April the rate had declined to ₹115 per kg. Notably, cashew nuts used to command a price of ₹180 per kg just about a decade ago.
The prices began to decline with arrival of cheap cashew nuts from abroad. The low-quality cashew nuts are being imported into the state by factory owners, affecting the price of local produce in a major way.
Imported cashews sold as authentic Goan produce
These cashew nuts are then packaged as authentic Goan produce and sold to the tourists who visit the state. Seeking an intervention from the government, the farmers claimed that for many of them, the cashew crop is the main source of their livelihood.
They have appealed to the government to control the import of cashew nuts in the state in order to increase the price of the local produce.
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