The Tamil Nadu Cashew Processors and Exporters Association (TNCPEA) has urged the Agricultural and Processed Food Products Export Development Authority (APEDA) to restore the export incentive for cashew kernels to 5 per cent from the existing 2.5 per cent, as its exports have dropped.
In a memorandum addressed to APEDA chairman Abhishek Dev, the secretary of the association M. Ramakrishnan said the government of India had provided an incentive of 5 per cent for export of plain cashew kernels. Subsequently, the incentive was cut to 3 per cent.
“However, with the introduction of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, the incentive was found to have been further cut to 2.5 per cent with a cap value of ₹8.50 per kg of cashew kernels. With cashew processing being a labour-intensive industry, the Centre should abolish the cap value and restore the export incentive for cashew kernels to 5 per cent,” he said.
