Home   >   NEWS & VIEWS   >   News

  • Import duty: cashew processors meet Jaitley

    Mar 11th, 2016

    A delegation of 20 cashew processors from across the country met Union Finance Minister Arun Jaitley in New Delhi on Thursday and submitted a memorandum to him, requesting withdrawal of the 9.36 per cent duty imposed on import of raw cashew nuts.

    The delegation comprised representatives from Kerala, Tamil Nadu, Andhra Pradesh, Goa, Karnataka, Orissa and Maharashtra. The delegation was accompanied by Union Minister for Law and Justice Sadananda Gowda, Union Minister of State for Transport Pon Radhakrishnan, Karnataka Chief Minister Siddaramaiah, former Union Ministers Oscar Fernandez and Veerappa Moily, former Karnataka Chief Minister B.S. Yeddyurappa, Kollam MP N.K. Premachandran and Mangalore MP Nalin Kumar Kateel.Kerala was represented by Kerala Cashew Processors and Exporters Association president G. Vasanthakumar. Speaking to reporters, he said cashew processors associations from each State presented separate memorandums, highlighting the adverse impact of the new import duty on the sector. Mr. Vasanthakumar said Mr. Jaitley’s response appeared positive.

    Earlier, during the meeting with the Finance Minister, Mr. Premachandran told him that of late, money laundering was being resorted to by the so-called north Indian lobby under the guise of raw cashew imports, and said strong steps were needed to curtail the practice. He, however, said that imposing import duty on the commodity as a preventive measure would hit the industry hard.

    “Therefore, some other alternative has to be worked out to curtail laundering activity,” Mr. Premachandran said. He also wanted Mr. Jaitley to consider measures for promoting raw cashew production in the country.

    In Kerala, the cashew processing industry is almost entirely dependent on raw nut imports.

    Delegation demands withdrawal of 9.36 per cent duty imposed on import of raw cashew nuts