Project Report For Cashew Industry
Introduction
Project report for Cashew industry is as follows.
Cashew is cultivated throughout the western and eastern coastal areas, as well as farther inland, with the primary producing states being Kerala, Andhra Pradesh, Orissa, Maharashtra, Karnataka, Goa, and Tamil Nadu.
Four centuries ago, the daring Portuguese came sailing along the Indian coastlines, bringing with them the precious tree nut “Cashew,” the world’s wonders. Cashew arrived, conquered, and established strong roots throughout India’s coastal area. Cashew finds Indian soil to be more welcoming than its native soil. Later, it became a prominent crop in other regions of India. Cashew farming presently encompasses 0.70 million hectares of land, yielding over 0.40 million M.T. of raw cashew each year.
Cashew, being a marketable product, plays a critical part in the liberalised Indian economy. Cashew was one of the top agricultural export commodities in 1995-96, with export profits of Rs. 12,320 million. The present attention that cashew is receiving as a horticulture product from the research and development front is a good indication, both for farmers and exporters. India now has a processing capacity of about 700,000 tonnes. metric tonnes, and to fulfil raw nut demand, the country relies on imports from numerous African countries, as well as, in recent years, from south-east Asian countries. This has put a significant strain on the country’s foreign exchange reserves, and there is an urgent need to increase domestic production to replace imported raw materials in order to reap the full benefits of the Indian cashew industry’s strong processing and marketing capabilities developed over the years.
Market potential & Strategy
During the forecast period (2021-2025), the worldwide cashew market is expected to grow at a CAGR of 4.6 per cent (2021-2026). In 2020, African countries provided 56.5 percent of world cashew output, while Asian countries contributed 44 per cent. On the other side, there is a worldwide trend that favours vegan and plant-based diets. People who follow a plant-based vegan diet emphasise alternative protein sources above those sourced from animals, resulting in a surge in demand for nuts and nut-infused dishes.
In 2019, African countries provided 56.5 percent of world cashew output, while Asian countries contributed 44 per cent. Vietnam has been the leading cashew exporter to the United States, China, Australia, Canada, and New Zealand during the previous eight years. Furthermore, cashew output in Vietnam is skyrocketing. When building its own cashew sector, the Vietnamese government commissioned a study of Oltremare’s equipment.
When compared to peanuts, cashews have higher fibre content and aid in weight growth by enhancing digestive function. To fulfil the need for such high-value nutrition, snack makers have launched numerous cashew-based snacks, such as ready-to-drink cashew milk, which functions as a lactose-free milk alternative. Cashew nut consumption is on the rise in the European Union as a result of rising health consciousness among consumers. Cashew nuts are increasingly being utilised as an ingredient in spreads and snack bars (particularly organic), which is increasing cashew consumption overall.
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