Kerala’s Cashew industry in dire straits, Industries Minister P. Rajeeve tells Assembly

Mr. Rajeeve says it was the unprofessional manner in which the Corporation and CAPEX were being run that had resulted in this crisis

Industries Minister P. Rajeeve has said the cashew industries in the State is in a serious crisis and that the Government will have to take stringent measures to ensure that cashew factories under the Cashew Development Corporation and CAPEX were run professionally and profitably.

Replying to a calling attention motion on the crisis in the cashew industries raised by legislator G. S. Jayalal in the Assembly here on Thursday, Mr. Rajeeve said the State set up the Kerala Cashew Board in 2017 after the Cashew Corporation and CAPEX were in dire straits financially, with either unable to take further bank loans. However, the situation now is such that the Board is ending up in the same financial mess that CAPEX and the Cashew Corporation were in.