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  • Dip in cashew exports: CEPCI brings out remedial plan

    Sep 23rd, 2016

    THIRUVANANTHAPURAM: Faced with an alarming drop of 40 per cent in cashew exports, the Cashew Export Promotion Council of India (CEPCI) has submitted to the Central government a five-point remedial plan to reverse the downward trend and to help revive the cashew industry, which provides employment to 10 lakh workers.Addressing a news conference here on Thursday, CEPCI Chairman P Sundaran said the Council has made a representation to Union Minister for Finance Arun Jaitely and Minister of State for Commerce & Industry Nirmala Sitharaman, outlining specific issues pertaining to the cashew industry and sought their intervention in resolving them. CEPCI has also made an official request to the Prime Minister to allow a special economic package for the cashew sector. Cashew exports from India declined by 40 per cent as the export quantity dropped to 25,000 MT during April-August 2016 from 42,000 MT in the corresponding period last year.

    The newly-introduced import duty on the industry has hit the industry hard. As per the new provisions, duty free import is possible only if kernels weighing 25 per cent of the raw nuts imported and worth 15 per cent more in value are exported within 18 months. The present out-turn stands at a disheartening 12 to 18 per cent.“Apart from the import duty burden, the slashing of export incentives has also led to the drastic fall in exports,” Sundaran said. “While the present Trade Policy gives priority to industries, which are agriculture-based, labour-oriented, women-centric and export-oriented, the cashew industry, which more than qualifies under all these categories, has been denied eligible benefits and is subjected to a drastic cut in export incentives,” he added.



    Source: http://www.newindianexpress.com