ANNOUNCEMENT 12 Jun 2019
The minimum Cost in Freight value on imports of broken or whole cashew kernels has been increased.
NUMBER OF INTERVENTIONS
Notification No. 8/2015-2020
Notification No. 50/2019-2020
On 12 June 2019, the Indian Ministry of Commerce & Industry through Notification No. 8/2015-2020 enhanced the Minimum Cost In Freight (CIF) value on import of Cashew kernels (broken) from INR 288 (~USD 4.15) to INR 680 (~USD 9.8) per kg. and on import of Cashe Kernels (whole) from INR 400 (~USD 5.77) to INR 720 (~USD 10.38)per kg.
These CIF values were imposed earlier in December 2013 (see related State Act).
On 14 February 2020, through Trade Notice No. 50/2019-20 the Ministry clarified that the above MIP will not be applicable on imports by 100% Export Oriented Units (EOUs) and units in the SEZ.
*INR to USD conversion as on 12 June 2019 - INR 69.37/USD