Cashew body will bid for world treenut meet of '09

To hold world's first ever global cashew buyer-seller meet in Sept

The Cashew Export Promotion Council of India (CEPCI) plans to bid for hosting the 2009 World Treenut Convention in India.

A formal proposal will be submitted in this regard at the next year's World Treenut Convention being held in Madrid. Word Treenut Convention is one of the largest events in the world for tree nuts.

Said Walter D'Souza, chairman, of CEPCI, "We have decided to submit our proposal to seek the rights to hold the prestigious event in India in 2009, after we lost the bid to host it in 2008 to Chile, which is a major force in dry fruits. We are hopeful of winning the bid for 2009 because of our strength as the leading processor and exporter of cashew kernels in the world."

India and China were two strong contenders along with Egypt for getting the rights to host the event in 2008.

However, India will have a tough competition from China, which is a world leader in peanuts.

"We are optimistic of winning the right to host the event in 2009 because we are hosting the first ever international cashew buyer-seller meet at Kovalam beach near Thiruvananthapuram in September this year. The experience of the meet will enable to win the bid for hosting World Treenut Convention," he said.

Speaking to Business Standard after his return from the Montreal convention of International Nut Council (INC) which was held from May 12 to May 14, D'Souza said the main advantage of organising the event in India will be to give larger exposure to the cashewnut processors and exporters. It will enable Indian processors and exporters to learn about the new trends in cashewnut industry. It will also help the country get more investment in the cashewnut industry in the future.

Although India is a major exporter of cashew kernels most of the exporters have not interacted with major international buyers. The event will help them to interact personally with such buyers, D'Souza said.

"India will be the focus country and attract a large number of buyers and sellers from across the world. It will generate a lot of business for our traders. We will showcase our strengths in cashewnut industry," he said.

The Montreal Convention, which took place from May 12-14, also took a decision to rename the International Nut Council, headquartered in Spain, as International Nut and Dry Fruits Council.

D'Souza said that the proposed global buyer-seller meet being held at Kovalam beach from September 15-17 is expected to generate a business of $100 million.

Nearly 400 buyers and sellers from India and abroad are likely to participate in this event, which is being organised for the first time anywhere in the world.