Purchase of cashew from private companies led to losses: CAG

Kollam: CAG has said that procurement of cashew from private players has led to losses to the Cashew Development Corporation. J M Traders was one of the main suppliers. Reports from the Finance and Industries departments also corroborate this state of affairs. Reports from 2008 onwards reveal the unholy nexus between private sector companies and the Cashew Development Corporation, leading to financial gain for the former. Cashew worth re. 609 crore has thus been procured. Documents pertaining to only 9% of these transactions have been made available to the CAG by the Cashew Development Corporation.

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