Home   >   NEWS & VIEWS   >   News

  • Restore sops for cashew exports

    May 31st, 2015

    The Kerala government on Friday asked the Centre to restore the export incentive for cashew kernels to five per cent as its export dropped following a ‘drastic cut’ in the incentive.

    Chief Minister Oommen Chandy met Prime Minister Narendra Modi here and submitted a memorandum, in which he said that the government of India had provided an incentive for export of cashew kernels under the Vishesh Krishi Gram Udyog Yojana (VKGUY) at five per cent for plain cashew kernels.

    However, when the new foreign trade policy was announced, the incentive, now called the Merchandise Exports from India Scheme or MEIS, was found to have been cut to two per cent.

    “While all other similar products continue to enjoy the MEIS at 5 per cent, it is surprising that the cashew industry, which creates so much employment to below the poverty line rural women, has been singled out for such drastic cuts,” Mr. Chandy said in the memorandum.It may also be noted that due to the ‘drastic cut,’ exports of cashew kernels in April 2015 have fallen by 18 per cent as compared to that in April 2014, he said and sought restoration of the MEIS rates of cashew kernel exports.


    In a separate memorandum, the Chief Minister urged the Prime Minister to exempt the proposed Vizhinjam International Deepwater Seaport from the cabotage regulations.

    Source: PTI