 "Cashew prices rise 33% this season")
Cashew nuts and kernel prices have increased 33-35 per cent during the current season in the Palasa market due to shortage of nuts and also led by higher demand owing to Ramzan.
Last year , local nuts were available at Rs 80 per kg when the season started but this year, they are priced at Rs 105-110. Accordingly, kernel prices have also increased to Rs 600 per kg for high-grade and Rs 250 per kg for low-grade as against Rs 450-460 and Rs 175 respectively last year, said Malla Srinivasa Rao, president, Palasa Cashew Manufacturers Association, and chairman, Agricultural Market Committee-Palasa.
Hudhud cyclone and a few other reasons were responsible for lower production this time. Moreover, imported nuts prices too are not attractive. Hence, domestic prices have increased abnormally, he added.
According to him, about 10,000 workers depend on this industry in the Palasa area. Unit operators have agreed to enhance the wages at 15 per cent for men workers and 19 per cent for women workers, for the next two years. This will result in an additional burden of Rs 5-6 lakh a day on the unit owners, Rao stated.
Last year , local nuts were available at Rs 80 per kg when the season started but this year, they are priced at Rs 105-110. Accordingly, kernel prices have also increased to Rs 600 per kg for high-grade and Rs 250 per kg for low-grade as against Rs 450-460 and Rs 175 respectively last year, said Malla Srinivasa Rao, president, Palasa Cashew Manufacturers Association, and chairman, Agricultural Market Committee-Palasa.
Hudhud cyclone and a few other reasons were responsible for lower production this time. Moreover, imported nuts prices too are not attractive. Hence, domestic prices have increased abnormally, he added.
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Due to low availability of domestic nuts, cashew units, which have a processing capacity of about 500 tonnes a day, are buying them even at higher prices, he stated. Though imported nuts are available in sufficient quantities, the kernel productivity is 10-15 per cent lower compared with domestic nuts. Besides, imported nuts prices have increased 25 per cent over last year's.
According to him, about 10,000 workers depend on this industry in the Palasa area. Unit operators have agreed to enhance the wages at 15 per cent for men workers and 19 per cent for women workers, for the next two years. This will result in an additional burden of Rs 5-6 lakh a day on the unit owners, Rao stated.