DGFT Amends Import Policy For Raw Cashew Nuts Exempting EOU, Processing Units Operating From SEZ From MIP Norm

The Director General of Foreign Trade has modified the import regulations for raw cashew nuts so that processing facilities operating within Special Economic Zones (SEZ) and export-oriented units (EOUs) are exempt from the minimum import price (MIP) requirement.

The notification stated that imports by 100% EOUs and SEZs units would not be subject to the Minimum Import Price (MIP) on Cashew kernels (broken/whole), subject to the restriction that they not be sold into the domestic tariff area.

The existing policy of Cashew kernel and broken, is that import is free if CIF value is above Rs. 680 per Kg. However, as per the revised policy the import is free if CIF value is above Rs. 680 per Kg. MIP conditions, however, shall not be applicable for imports by 100% EOUs and units in the SEZ. SEZs and EoUs units shall not be allowed to sell the imported Cashew Kernels into Domestic Tariff Area (DTA).

The existing policy of Cashew kernel and whole is that the import is free if CIF value is above Rs. 720 per Kg. However, as per the revised policy the import is free if CIF value is above Rs. 720/- per Kg. MIP conditions, however, shall not be applicable for imports by 100% EOUs and units in the SEZ. SEZs and EoUs units shall not be allowed to sell the imported Cashew Kernels into DTA.

Notification No. 59/2015-2020

Date: February 21, 2023

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