India’s exports of cashew kernels and allied merchandise might also fall 20% to Rs four,800 crore this fiscal due to decrease volumes, industry frame CEPCI said at the same time as stressful better incentives and hike in import obligations on finished products to reinforce outward shipments.

Concerned over probable fall in exports, the Cashew Export Promotion Council of India(CEPCI) said the import obligation on cashew kernels (complete as well as cut up) have to be expanded to 70% from gift 45%.

CEPCI also sought hike in minimal import charge of cashew kernels to Rs 720 in keeping with kg (for entire) and Rs 680 per kg (split/broken) from the present day Rs four hundred in step with kg and Rs 288 according to kg, respectively, that allows you to cut back imports of around 10,000 tonnes of finished products annually.

India exported eighty four,352 tonnes of cashew kernels in 2017-18 as towards eighty two,302 tonnes during the preceding year. In fee phrases, exports went up nearly 18 per cent to USD 911 million (around Rs 6,000 crore) from USD 770.Sixty five million (around Rs five,200 crore) during the identical length, the association stated.

“In the present day fiscal, we estimate that exports will fall to round 60,000 tonnes in volume terms and around Rs 4,800-5,000 crore in cost terms. We need financial as well as coverage help from the authorities to restore exports,” a top official of CEPCI stated.

The united states produces round three.Five lakh tonne of cashew kernels. The manufacturing and import of raw cashew is round eight lakh tonne and nine lakh tonne, respectively.

“The best of Indian cashew kernels is better than other international locations. But we are dealing with tough competition from Vietnam which is promoting at approximately 10 per cent lesser fee. Our value of manufacturing is high, so there may be no stage gambling field,” the reliable said.

CEPCI demanded that the government double the incentive under MEIS (Merchant Export from IndiaScheme) to ten%.

Indian cashew industry exports extraordinary grades and merchandise like cashew kernels (wholes and broken), cashew nut shell liquid (CNSL), cardanol (purified CNSL) and flavoured kernels. Indian cashew kernels are well generic and favored international over for its exceptional, flavor, subculture and commitment to providing, as compared to different origins.

The united states of america exports cashew kernels to about 80 countries, consisting of the US, UAE, Netherlands, Saudi Arabia, Germany, Japan, Belgium, Korea, Spain, France, UK, Kuwait, Singapore, Qatar, Greece, Italy, Iran and Canada. The council is setting up a worldwide cashew summit in the national capital from February thirteen-15. – PTI