• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

MANGALORE, Sept. 9

THE Cashew Export Promotion Council of India (CEPC) has decided to invest in marketing during 2002-2004 in an attempt to explore the possibilities of entering new markets. CEPC, in fact, hopes to register an annual growth of 15 per cent in cashew exports from the country.

According to the CEPC Vice-Chairman, Mr Walter D'Souza, the council recently decided to initiate a market study programme at an outlay of Rs 125 lakh in the first phase. This study is to cover two countries with Rs 75 lakh allocated for the US and Rs 50 lakh for Japan. Consulting agencies in the area of marketing have been shortlisted and the contract is expected to be finalised before the end of this month. The report may be submitted before the end of the current financial year.

CEPC will subsequently chalk out a `time-bound target-oriented plan of action' in these two countries. This will be followed by a similar exercise in a few other European countries. The thrust of all these initiatives will be on what CEPC calls an `innovative scheme' to market and popularise cashewnuts in new markets.

According to CEPC estimates, the present global raw cashewnut crop is estimated at one million tonnes. India harvests around 3.5 lakh tonnes and imports 2.5 lakh tonnes, accounting for 60 per cent of the global cashew-processing activity. According to estimates available from the directorates of cashew-growing countries, the size of the crop will be 50 per cent higher by 2005 and, according to CEPC, unless `concerted efforts' are made there could be a mismatch between production and demand leading to a `crisis' affecting farmers, exporters and others involved in the cashew business.

CEPC's marketing initiative will, among other things, focus on creating `awareness' on the nutritional and health values of cashew. The `marketing needs and dimensions' of each country will be carefully studied and programmes initiated.

Also, the faculty of the Business Administration Department of the Mangalore University will be organising a `cashew festival' from September 27-29. This is the first such effort in the country and CEPC plans similar programmes elsewhere too.

Send this article to Friends by E-Mail

Stories in this Section
Drug residue debate may hit marine exports

Copyright © 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line