New Delhi, Feb 13 (KNN) Due to lack of modernization and high wages, Indian Cashew industry is facing serious competition and needs government intervention for revival, said Cashew Export Promotion Council of India (CEPCI).

CEPCI is an apex body of exporters of cashew has sought government intervention to revise Minimum Import Price (MIP) on cashew kernels and allied products.

Aiming to revive the ailing cashew industry, CEPCI is organizing the 6^th edition of ‘Kaju India 2019’, the Global Cashew Summit, which will be inaugurated by Suresh Prabhu, Union Minister of Commerce and Industry here today, said Dr R.K.Bhoodes, Chairman of CEPCI.

A three day International Buyer-Seller meet cum Exhibition, Kaju India 2019, the Global Cashew Summit will bring together the entire spectrum of the Global Cashew Industry - cashew kernel buyers, sellers, processors and providers of ancillary & supporting services across the world.

Bhoodes said, "As India is the world's largest producer, processor and consumer of cashew, special promotion for country's products under "Indian Cashew" brand is proposed to be launched during the event. 

The theme of the global event has been rightly chosen as "Indian Cashews -The Superfood" due to its dietary fiber, nutrients and health benefits."

The event is also a curtain raiser for the yearlong celebrations to commemorate the 100th year of Indian Cashew Export, where large number of stake holder's right from cashew farmers, traders, agents, processors, business customers will meet and interact.

This Mega Event is expected to be a premier gathering of world leaders of the Cashew Industry including Ministers and diplomats from cashew producing / consuming countries. It is so envisaged to strengthen the industry under the "MAKE IN INDIA" scheme and promote 'INDIAN CASHEW' brand globally.

The lack of modernisation and high wages are making Indian exports uncompetitive as the cost of processing is lower in other exporting countries. The import duty, coupled with these high costs, has a negative impact on the industry, say experts.

CEPCI has said that apart from these issues, its request to revise Minimum Import Price (MIP) on cashew kernels and allied products is also under process.

The surge in import of low quality finished and semi-finished cashew kernels from competing countries using the loops in the existing policy and also using unfair methods is the most serious threat to the Cashew processors.

These imports of finished and semi-finished cashew kernels are to be restricted, else the industry will find it difficult to survive.

According to Bhoodes, India is the world's largest producer, processor and consumer of cashew. While 70 per cent of the produce is consumed in India, the rest is exported. India processes 17 lakh tonnes of raw cashew nuts per annum. Of this, around 9 lakh tonnes are imported mainly from African countries.