Kerala Govt Planning to Set Up Apex Body for Cashew Sector


Kollam: Kerala Government is planning to set up a body to give a much-needed boost to the crisis-ridden cashew sector, which was once a major foreign exchange earner for the State.

Speaking at a function here the other day, J Mercykutty Amma, Cashew Minister, said that such a body will bring all aspects of the cashew industry like procurement, production and sale, and ensuring working days, under a single umbrella.

“The idea is to constitute a State Cashew Board on the lines of CIAL. It will have the powers to take decisions on cashew procurement, production and sales as well as initiating steps to ensure maximum working days for workers. The main objective of this move is to keep off middlemen,” the Minister added.

The government will convene a meeting of representatives of the RBI and the nationalised banks here on Tuesday to discuss the nitty-gritty details of the plan,” the Minister said.

Mercykutty Amma said that the financial condition of the two public sector units in the cashew sector, KSCDC and Capex, had improved substantially and added that due to this the banks were keen on providing the overdraft facility.