1. Home >
  2. Export Import News >
  3. Export News >
  4. Cashew kernel exports may fall in FY'19; industry wants financial, policy support: CEPCI >
  5. Cashew kernel exports may fall in FY'19; industry wants financial, policy support: CEPCI

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Cashew kernel exports may fall in FY'19; industry wants financial, policy support: CEPCI.

Date: 13-02-2019
Subject: Cashew kernel exports may fall in FY'19; industry wants financial, policy support: CEPCI
New Delhi, Feb 12 () India's exports of cashew kernels and allied products may fall 20 per cent to Rs 4,800 crore this fiscal due to lower volumes, industry body CEPCI said, while demanding higher incentives and hike in import duties on finished products to boost outward shipments. 

Concerned over likely fall in exports, the Cashew Export Promotion Council of India (CEPCI) Chairman R K Bhoodes said the import duty on cashew kernels (whole as well as split) should be increased to 70 per cent from present 45 per cent. 

He also sought hike in minimum import price of cashew kernels to Rs 720 per kg (for whole) and Rs 680 per kg (split/broken) from the current Rs 400 per kg and Rs 288 per kg, respectively, in order to curb imports of around 10,000 tonne of finished products annually. 

India exported 84,352 tonne of cashew kernels in 2017-18 as against 82,302 tonne during previous year. In value terms, exports went up almost 18 per cent to USD 911 million (around Rs 6,000 crore) from USD 770.65 million (around Rs 5,200 crore) during the same period, the association said. 

"In the current fiscal, we estimate that exports will fall to around 60,000 tonne in volume terms and around Rs 4,800-5,000 crore in value terms. We need financial as well as policy support from the government to revive exports," Bhoodes said. 

The country produces around 3.5 lakh tonne of cashew kernels. The production and import of raw cashew is around 8 lakh tonne and 9 lakh tonne, respectively. 

"The quality of Indian cashew kernels is better than other countries. But we are facing tough competition from Vietnam which is selling at about 10 per cent lesser price. Our cost of production is high, so there is no level playing field," Bhoodes said. 

CEPCI's Vice Chairman Noordeen Abdul demanded that the government double the incentive under MEIS (Merchant Export from India Scheme) to 10 per cent. 

 Indian cashew industry exports different grades and products like cashew kernels (wholes and broken), cashew nut shell liquid (CNSL), cardanol (purified CNSL) and flavoured kernels. 

 Indian cashew kernels are well accepted and preferred world over for its quality, taste, tradition and commitment to supply, compared to other origins. 

 The country exports cashew kernels to about 80 countries, including the US, UAE, Netherlands, Saudi Arabia, Germany, Japan, Belgium, Korea, Spain, France, UK, Kuwait, Singapore, Qatar, Greece, Italy, Iran and Canada. 

The council is organising a global cashew summit in the national capital from February 13-15. 

Source: timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 02-01-2020
Notification No. 87/2019- Customs (N.T.)
Notification of Vizinjham International Seaport and Muthalapozhi u/s 7(d) of the Customs Act for unloading and loading of boulders for breakwater construction.

Date: 02-12-2019
Trade Notice No. 40/2019-20
Imports of Onions

Date: 02-12-2019
Notification No. 33/2015-2020
Amendment in Policy condition No.2 (iii) to Chapter 95 of ITC (HS), 2017- Schedule -1 (Import Policy)

Date: 29-11-2019
Notification No. 86/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 29-11-2019
Circular No. 40/2019-Customs
Auto Out of Charge under Express Cargo Clearance System (ECCS) - reg.

Date: 29-11-2019
Circular No. 41/2019-Customs
Clearance of Import of metal scrap - Procedure - reg.

Date: 29-11-2019
Circular No. 42/ 2019 -Customs
Mandatory uploading of specified supporting documents and mention of document code and IRN in Bills of Entry (BoE) - reg.

Date: 28-11-2019
Circular No. 39/2019-Customs
Appointment of Common Adjudicating Authority - regarding.

Date: 28-11-2019
Notification No. 63/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI - reg.

Date: 28-11-2019
Notification No. 64/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI - reg.

Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001