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  • Not feni: Cashew farmers high on 40% rise in prices

    May 11th, 2016

    Panaji: Goa's cashew farmers have rarely gained so remarkably from their harvest as they have this year after an unprecedented 40% rise in prices of raw nuts. Poor crop and rising cost inputs though have left both growers and processors disappointed.Cashew growers may have plucked better crops, but in terms of per kg price for their produce, this season has been the best ever though climatic conditions affected the flowering stage, sources said.Every year, nut prices unfailingly show a progressive rise and the 2016 season started at 115 to 117 per kg as against the starting price of 102 to 105 per kg last season. Prices shoot up at the beginning of the season due to demand only to come down later after supplies improve.But in an unexpected turn this season, farmers were offered the lucrative retail price of 140 per kg towards the end of the season, sources said.The cashew industry attributes this rise to the dual effect of poor crop and 9.36% duty on cashew nut imports in the Union Budget 2016. "This season the price per kg went up to 140 per kg in retail and 145 to 150 per kg in wholesale market. This is because too many processors are trying to take whatever little raw material is available," former president, Goa cashew processors association, A Kamath said.