By Express News Service KOCHI: Cashew Export Promotion Council of India’s (CEPCI) proposal includes steps to bring down processing cost to Rs 1,300 per bag by introducing mechanisation and increasing production of cashew nuts. The units in Kerala source nuts from African countries, but they are now concentrating on setting up more processing facilities. It has led to decrease in availability of raw nuts in the international market. “The industry demands government help to influence the banks to provide relaxation in NPA norms. The promoters should be allowed to opt for a revival scheme or one-time settlement. The banks should write off 50 per cent of the normal interest and penal interest levied on the principal amount. An over draft facility of 33.33 per cent should be provided as working capital term loans,” said Bhoodes. Planning Board Technical Chief N R Joy said, “We’re working on a viable business model to sustain the industry. The government is keen to revive the cashew sector as it’s the livelihood of around 3 lakh people. The Union Government had provided a package for revival of the textile sector. There’s a proposal to avail of a package from the budget allocation for micro and… Read full this story
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