THIRUVANANTHAPURAM: A master plan will be prepared for the modernisation and product diversification of the cashew industry in the state, Industries Minister P Rajeeve has said. A high-level meeting attended by Rajeeve and Finance Minister K N Balagopal has decided to strengthen the sector.
The state government will provide the necessary financial support for the modernisation of the industry.
The rise in the price of raw cashew nuts and high import duty have deepened the crisis in the sector. Also, the production cost in Kerala is relatively high compared to other states.
This is mainly because of the delay in implementing the modernisation of the sector, the meeting opined.
Further, the industry has a long way to go in marketing and product diversification which will be addressed in the new master plan, the minister said.
The industry will seek the help of professional agencies to modernise the sector, product diversification and marketing. Public sector Restructuring and Internal Audit Board (RIAB) will supervise the functioning of Kerala State Cashew Development Corporation (KSCDC) and Capex.