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Cashew lobby hails import duty hike on kernels, other products
Jul 10, 2019

The Cashew Export Promotion Council of India (CEPCI) has welcomed the decision to hike the import duty on cashew kernels (both wholes and brokens) and cashew other items (semi–finished cashew and other products) from 45 per cent to 70 per cent.
 
This decision is a relief to the crisis-hit industry, which is on a revival path, said RK Bhoodes, Chairman, CEPCI.
 
The CEPCI had asked the government to increase the minimum import price on cashew wholes from Rs.400 per kg to Rs.720 per kg and for broken cashews from ?288 per kg to Rs. 680 per kg. It had also sought a hike in import duty on all cashew kernels.
 
However, the government is yet to decide on the request to place roasted cashew and cashew other items (semi-finished, husk, shell etc) in the list of ‘prohibited items’.
 
The request to withdraw 2.5 per cent import duty on raw cashew nut — a key demand — has also not been addressed in the Budget. The industry is dependent on imported cashew for processing and the import duty has made the domestic processing unviable, resulting in diversion of raw cashew nut from other producing countries to competing countries.
    

The Hindu Businessline

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