A global alliance may soon change the equation sin the cashew market. A proposed plan for a tri-nation alliance between India, Vietnam and Brazil - top three cashew producers of the world - to increase the global output from 1.7 million tonne to 3 million tonne will definitely make waves in the industry.
From India's part, efforts will be made to increase per capita consumption here. Other plans on the agenda for the alliance are standardisation of cashew kernel grades, research and development, and validation of quality.
These countries are currently in the process of working out the structure of the organisation, which is expected to take a formal shape by July.
During the International Tree Nut Convention held in Montreal, Canada, in May last year, Antonio Jose Carvalho, president of Sindicaju, Brazilian cashew association, had informally agreed to work with Cashew Export Promotion Council of India.
Vietnam extended its support for the cause this year, when a CEPCI-led trade delegation visited the country. A memorandum of understanding to this effect was also signed in this regard.
The bilateral MoU will be sent to Sindicaju for its formal endorsement and a tripartite MoU is expected to be signed by the heads of the three organisations in Florida in April.
Sources said the proposed body, the name for which is being worked out, will make an attempt to bring the cashew producing nations under a common umbrella and promote their interests globally.
Cashew export zone
The Tamil Nadu government will set up a Rs 10.36-crore cashew export zone at Cudallore soon.
Attending a meeting of cashew growers, exporters and officials, Tamil Nadu agriculture secretary Surjith K Chowdhary said the National Horticulture Mission has earmarked Rs 3.46 crore for Cudallore to bring 1,200 more hectares under cashew cultivation.
With the new export zone, the trade volume is expected to touch around Rs 200 crore per year, he said. The zone will have a solar energy-based cashew processing unit, nutshell extraction unit, cold storage, fruit juice laboratory, etc.
