Press briefing of Cabinet Decision taken on 2011-08-24

Importation of Raw Cashew

- Cabinet was informed that a large number of families who earn their living by processing cashew have been seriously affected due to the severe shortage of raw cashew in the local market, as local production has declined sharply. Considering the situation, Cabinet decided to grant approval to remove the import duty on raw cashew (with shells), subject to the imposition of other taxes such as VAT, NBT etc. Once the local production improves, the import duty will be re-imposed. However, import of processed cashew will continue to be subject to the import duty and other taxes. The Ministry of Minor Export Crop Promotion will monitor the imports and the local supply situation.