Visakhapatnam: The cashew industry at Palasa in Srikakulam district has suffered a loss of over Rs 100 crore due to the recent cyclone Titli.
Over 200 cashew processing units in and around Palasa have been damaged and tonnes of cashew kernels of various grades destroyed by the heavy rains and gales that followed cyclone Titli.
Located in Srikakulam district of the state, Pasala and Kasibugga have about 200 cashew processing units, which process cashew kernels worth around Rs 6 crore per day.
Almost all the processing units and godowns in the region suffered some damage due to Cyclone Titli; many had roofs blown away and the kernel stored in godowns soaked in the rain. Many units have shut operations post-cyclone following the damage to machinery, said Palasa Cashew Manufacturing Association president Malla Srinivasa Rao. Known for its delicious taste and unique flavour, Palasa cashew is famous across the state.
The industries that witnessed brisk economic activity might need three to five years to get back on the track.
The drop in cashew crop in AP and Odisha due to cyclones has been hitting their industry hard for years, Mr Rao said. Sources said that cashew nut crop in over 1,640 hectares in Srikakulam district alone was destroyed.
