Known as the "Cashew Capital of the World", Kollam is noted for its traditional cashew business and is home to more than 600 cashew-processing units. Every year, about 800,000 tonnes of raw cashews are imported into the city for processing and an average of 130,000 tonnes of processed cashews are exported to various countries worldwide. The Cashew Export Promotion Council of India (CEPCI) expects a rise in exports to 275,000 tonnes by 2020, an increase of 120 per cent over the current figure. The Kerala State Cashew Development Corporation Limited (KSCDC) is situated at Mundakkal in Kollam city. The company owns 30 cashew factories all across Kerala. Of these, 24 are located in Kollam district.