Budget 2019: Higher duty to discourage cashew imports

In a major relief to local cashew processors and traders who are hurt by rising imports, the Union Budget has proposed to increase the customs duty on cashew kernels to 70% from the current 45%, for both broken and whole varieties. India is the largest consumer of the nut. Cashew prices in the country had dropped 15-20% in the past year to around Rs 600 per kg for kernels due to rising imports. The industry had demanded increasing the duty to 70%, on a par with other nuts.

Source : https://economictimes.indiatimes.com/topic/cashew-nut-prices

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