Financial Daily from THE HINDU group of publications
Thursday, Feb 05, 2004
Financial Daily from THE HINDU group of publications Thursday, Feb 05, 2004 |
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Agri-Biz & Commodities
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Cashew Cashew corpn to spend Rs 10.5 cr on high-yielding varieties Our Bureau
Mangalore , Feb. 4 THE Karnataka Cashew Development Corporation is planning to spend Rs 10.5 crore to plant high-yielding varieties of cashew in 5,000 hectares of land in the State in the next five years. A meeting of the officials of the Forest Department, held under the chairmanship of the Forest Minister, Mr Ranganath, has given approval for this proposal, and the corporation is waiting for the approval of the Finance Department, according to the President of the Karnataka Cashew Development Corporation, Mr K. Taranath Shetty. Addressing presspersons here, he said Rs 50 lakh was likely to be earmarked to the corporation in the State Budget. During the current financial year, the corporation had set up plantations on 800 hectares of land. During 2004-05, it will set up plantations on 1,000 hectares of land. The corporation had spent Rs 1.88 crore on removing weeds and providing manure to two-lakh old cashew trees. It has earmarked Rs 1.5 crore to remove weed and to provide manure to nearly four-lakh old trees this year. It registered a net profit of Rs 2.77 crore during this financial year, compared to Rs 2.67 crore in the last fiscal.
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