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DGFT increases MIP for cashew kernels

The Directorate General of Foreign Trade (DGFT) has increased the minimum import price (MIP) for broken cashew to Rs 680/kg from Rs 288/kg. The price of whole cashew has also been raised to Rs 720/kg from Rs 400/kg. The industry has been complaining about the negative impact of cheap and low-quality cashew kernel shipments from ASEAN countries and Africa. Some importers took unfair advantage of FTAs to ship large volumes of these kernels into India. The industry has welcomed DGFT’s decision and is confident that this will help boost the domestic processing sector.