This Akshaya Tritya, be ready to forego your delectable Kaju Katli, or cough up large sums for them; erratic weather has led to poor crops, causing prices to skyrocket
This Akshaya Tritya, be ready to forego your delectable Kaju Katli, or cough up large sums for them; erratic weather has led to poor crops, causing prices to skyrocket
Planning to celebrate akshaya tritya with confections rich in cashews? Be armed with a full wallet when you leave for the market place, or you might be in for shock and embarrassment. Owing to a poor crop this year, an acute shortage of supply has caused cashew prices to soar. According to traders, almonds might be a cheaper option than the costly cashews this year. "The price of raw cashews has doubled. Last year we bought raw cashews at the rate of Rs 40 per kg, but this year the same quantity is available for Rs 84. This has led to a price hike, which in turn has had a negative impact on our business," said Anil Kumar, a cashew manufacturer from Sindhudurg.
Kumar also revealed that the international market too was facing a shortage of cashew supply this year. The processing period for cashews extends from March 15 to May 20 every year. "The first cashew crop failed this year due to off-season rains and erratic weather conditions. At the time when the crop required extreme heat to ripen, it experienced cold temperatures. This led to a poor yield," Kumar added.
A retailer from Mulund's Choice Corner grumbled about the soaring dry fruit prices in the festive season. The trader asked this reporter to buy almonds rather than cashews on the occasion of akshaya tritya.u00a0 "Buy almonds for your sweets and desserts, it is cheaper. Cashews will prove rather heavy on your pocket," he said.
Dinesh Dung, president of the Dry Fruit Traders Association, confirmed the shortage and hike in cashew prices. "Maharashtra is a major producer of cashews. The impact of the shortage will soon be felt across India," he said. Pradeep Jain, secretary of the Sweet Association of Mumbai complained that sweet manufacturers have been facing this shortage for the past few months. "This year, only 40,000 metric tonnes of cashew was produced, as compared to the 1 lakh metric tonne produced last year. This year's produce was 50 per cent of the usual yield every year. We are hoping that things will improve in the next 20 days," said Suresh Boalekar, president of Sindhudurg Cashew Nuts Manufacturing Association, based in the Konkan region.
Comparative rates
Cashews: Rs 800 to 940 per kg
Almonds: Rs 680 per kg
Raisinsu00a0 : Rs 840 per kg
Did you know?
Maharashtra is the largest producer of cashew nuts in the country, with 1,50,000 hectares of land under cashew nut cultivation. The Sindhudurg district has the largest area under cashew cultivation in the state. The state offers a huge natural resource base for the expanding cashew processing industries.
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