Keralites will quickly get a style of their very own brand of Feni, the native spirit of Goa.
State-owned Kerala Cashew Development Corporation is gearing as much as produce liquor from cashew apple. It has submitted an in depth venture report back to the federal government and the State Excise Department.
The ₹13-crore venture will come up at Thalassery the place the Corporation owns a greenfield plant with manufacturing capability of three lakh litres every year, a high official in KSCDC informed.
The firm plans to supply cashew apples from farmer cooperatives in different cashew-growing states of Tamil Nadu, Karnataka, Odisha and Maharashtra to make Feni.
“KSCDC intends to position Feni as a premium alcoholic beverage at an affordable price vis-a-vis the existing IMFL. Initially, the company is looking at Kerala as the main market and will take it later to other south Indian states,” the official stated.
“Once the regulatory clearance is obtained, the project will go on stream in the next fiscal. Feni is expected to bring in an additional revenue of ₹100 crore to the corporation’s kitty within two years,” he stated, including that the venture would assist generate job alternatives to 50 individuals.
The ₹200-crore KSCDC is already out there with many value-added merchandise from cashew similar to jams, juices, and goodies, amongst others. Plans are additionally afoot to introduce cashew apple flavour ice cream, he added.
Kerala produces round two lakh tonnes of cashew apples, of which 85,000 tonnes now go waste with none use. This might be prevented with Feni manufacturing. Around 25 kg of cashew apples is required to make one litre of Feni. KSCDC additionally plans to acquire cashew apples from farmers at a price of ₹3 per kg, he stated.
The venture, in response to the official, is a part of the diversification plans to help the cashew sector which is reeling below extreme losses within the State. The extremely labour-intensive sector has turned out to be a sundown business due to excessive working prices, forcing greater than 800 models to down its shutters.
Several manufacturing models have shifted their base to neighbouring states because of low-cost labour. The raw materials availability can be posing issues, because the sector has to rely on the worldwide market and season. Since 85 per cent of the uncooked materials is imported, worth fluctuations within the abroad markets typically affect manufacturing, he added.