Get ready to pay more for cashew as prices up

Rajamahendravaram: Prices of cashews are skyrocketing in the market. Traders report that demand has surged due to increased consumption during the festival seasons of Dasara and Diwali in regions like Gujarat, Rajasthan, Delhi, Uttar Pradesh, and Maharashtra. This heightened demand is cited as the reason for the rising prices. Notably, prices have never seen such a significant increase during this season in the past three to four years.

For the past three years, the price of an 80-kilogram bag of cashew nuts (seeds) ranged from Rs 8,000 to Rs 9,000.

However, traders report that prices have surged significantly in the last six months, with the price now at Rs 13,500 per bag. Due to a lack of storage options, farmers have been selling their cashew nuts as soon as they harvest.

In the unified East Godavari district, areas like Rampachodavaram and Gokavaram have seen increased cultivation of cashews. The produce is supplied to four to five surrounding districts. There are over a hundred small industries in the region that process and package cashew kernels for sale. These nuts are also exported to cities like Bangalore, Mangalore, and Hyderabad.

Based on quality, cashew kernels are sold in five different grades, including ‘round’ and ‘broken’varieties.

Currently, there is a strong demand for cashews in the market. Over the last three years, prices during this season ranged from Rs 550 to Rs 800 per kilogram. However, prices have now increased by an average of Rs 200, with current rates between Rs 700 and Rs 1,050 per kilogram. The festive season has led to higher consumption of cashews, but the steep price rise is alarming consumers, resulting in a decline in sales, according to traders.