Kerala Budget: Decreased Funding for Cashew Sector Raises Concerns

The recent Budget has announced a revival package that features a one-time settlement scheme aimed at closed factories across various sectors. However, it has allocated only ₹56 crore specifically for the cashew sector to support these initiatives, raising significant concerns among industry stakeholders.

The cashew industry, which plays a crucial role in the livelihoods of many farmers and workers, has faced numerous challenges in recent years, including fluctuating market prices, competition from imported nuts, and disruptions due to the COVID-19 pandemic. Industry experts argue that the allocation is insufficient to address the ongoing challenges and support the recovery of the sector.

In response to this limited funding, stakeholders within the cashew industry are calling for more comprehensive support measures, including increased financial assistance, enhanced infrastructure development, and initiatives aimed at improving productivity and export competitiveness. As the industry anticipates further discussions with policymakers, its future will depend on how effectively these concerns are addressed.