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  • Cashew prices soar to all-time high

    Mar 19th, 2014

    <p></p><p>Cashew nut prices have notched another high this year as processors offered the best-ever price of <a target="_blank" rel="nofollow">`</a> 95 per kg, but farmers are worried fluctuations in weather may scorch their dreams of a good harvest.</p> <p>When the season started towards the end of February 2014, the first arrivals commanded good value in the market. "Never in the history of cashew farming in the state have prices of ` 93 to ` 95 been paid per kg," Goa cashew (processors) manufacturers association advisor A S Kamath said.</p> <p>A bumper crop in the last 2012-13 season yielded 35% more crop on the west coast from Kerala to Maharashtra. "Though Goa's production had declined from 24,000 metric tons to about 18,000 metric tons in the last few years the state produced more than 24,000 tons last season," Goa cashew processors association president Madhav Sahakari said. Just as demand controls the price graph, the heavy consumption of the tasty nut boosted utilization of the nuts not only in the country but also globally. "As there is no excess of last year at the beginning of this season, processors have to definitely pay a better price," Kamath said. </p><p>Of late, with the season seeing more produce flowing into the market, nut prices have stabilized at ` 87 per kg. Farmers in the state have nothing much to worry about if the prices go up or down. The Goa government has recently hiked the support price to cashew farmers to ` 100 per kg from the previous price of ` 90. The quality of cashew nuts has been satisfactory, as the weather was favourable during the flowering stage and even up to the seeding stage so far. "The transformation from flower to seed is taking place," Kamath said.</p><p>"We are closely watching the weather and the crop," Sahakari said. Bad weather may curtail the crop and trigger a price rise. It may adversely affect production by about 25%. "The price may jump back to ` 90 per kg, but the crop may suffer. If the crop is good, it may stabilize at ` 75 per kg," Kamath pointed out. The soaring mercury may not affect the crop negatively, but dew at night can give rise to pests. "Foggy and cloudy conditions are harmful as it boosts tea mosquito bug which damages the crop," agriculture director P Tufani said. </p><p>Goan cashews are valued for their taste, as local farmers gather the produce from the ground instead of plucking it prematurely from the tree. </p><p><b>Nutty facts</b> </p><p>Production during last four seasons varied between 21,000 and 24,000 metric tons</p> <p>Production is inadequate for the 40-odd cashew industries to sustain activity round the year</p> <p>Raw cashew nuts are imported from west and east African countries like Tanzania, as well as Indonesia</p> <p>In 2012-13, prices started between ` 80 and ` 82 and settled at ` 68 to ` 70 as compared to ` 92 and 95 this season Foggy conditions boost growth of tea mosquito insect, which damages the cashew crop.<br></p><p></p><br>


    Source: http://timesofindia.indiatimes.com/city/goa/Cashew-prices-soar-to-all-time-high/articleshow/32256099.cms
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