The government Wednesday increased sharply the minimum import price for whole and broken cashew, making inbound shipments of the commodity costlier.
"The minimum import price of cashew (broken/whole) enhanced," the Directorate General of Foreign Trade (DGFT) said in a notification.
The import price for broken cashew was increased to Rs 680 per Kg from Rs 288 per kg.
Similarly for whole cashew, it was enhanced to Rs 720 per kg from Rs 400 per kg earlier.
Below these prices, imports of the commodity is prohibited.
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.
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 in 2017-18.
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 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)