In Sri Lanka cashews are harvested in April and May and cashew growers sell a kilogram of cashew at a prices between Rs. 250 to Rs. 300.
Cashew prices in Sri Lanka have gone up due to a group of middle traders buying them in bulk , selling them for a higher price after storing them improperly.
It is noteworthy that these intermediaries are not engaged in cashew industry.
They carry on their scam from the time of harvesting cashew nuts and a kilogram of cashew nuts which were bought at a price between Rs.250 to Rs.300 are sold at a price between Rs.500 to Rs.600 under the pretense of shortage of cashew.
As a result of this those who are selling cashew in the market have to buy it for a higher price from middlemen to save their jobs and their livelihood.
Meanwhile, it is said that due to the improper storage carried out by middlemen, a large number of cashew nuts gets spoiled and wasted.
Cashew growers say that Sri Lanka Cashew Corporation is unable to curb the racket as there is no controlled price for cashew nuts.