Cashew import prices hiked by 280% to support domestic producers

Kerala Cashew Industry Joint Council said the move is a shot in the arm for the struggling cashew industry in the state

The government has increased the minimum import price of broken cashew kernels by nearly 138 per cent and by 280 per cent for whole kernels.

According to a notification issued by the Directorate General of Foreign Trade (DGFT), import price of broken cashews has been increased to Rs 680 per kg from Rs 288 per kg. Similarly, for whole cashews, the price has been hiked to Rs 720 per kg from Rs 400 per kg.

Kerala Cashew Industry Joint Council said the move wasa shot in the arm for the struggling cashew industry in the state. It added that the move would pave the way for higher demand for locally produced cashews, which in-turn would help small-scale processing centres and would create jobs for women in rural areas.

The council also requested the government to provide a financial package to the cashew industry in Kerala.

Indian cashew industry exports products like cashew kernels (wholes and broken), cashew nut shell liquid (CNSL), cardanol (purified CNSL) and flavoured kernels. The country produces around 350,000 tonnes of cashew kernel. The production and import of raw cashew is around 800,000 tonnes and 900,000 tonnes, respectively.