Andhra Pradesh: Palasa Cashew Industry Gives Bandh Call
In a meeting, the cashew industry committee decided to stop boiling and cutting cashews.
image for illustrative purpose
The cashew industry in the Kasibugga-Palasa region of Andhra Pradesh has called for a 15-day bandh starting Tuesday due to a sudden drop in cashew prices and exports.
This halt by the units has affected the industry to a great extent. This move follows a similar 25-day bandh last August due to a price fall.
During a meeting, the committee for the cashew industry decided to cease the boiling and cutting of cashews.
The price of cashews in the domestic market has dropped by Rs 100, causing substantial losses for the industry.
Andhra Pradesh, the second-largest producer of cashews, relies heavily on this crop, which is a key income source for farmers in Srikakulam and Vizianagaram.
Known for their quality and taste, these cashews are exported to various parts of the country, including Hyderabad.
The annual turnover of the industry in Palasa is expected to be around Rs 300 crore. The sudden price drop has led to a halt in production as buyers wait for market conditions to improve.
Processing is expected to begin again on August 5 once the market stabilises in the coming weeks.
