SL to import cashew

The Cabinet this week approved a proposal to import cashew as local production was unable to meet local demand. 

Currently there is a market for about 20,000 MT of cashew per annum. However, local production only amounts to 10,000-12,000 MT. The supply shortage has negatively affected the livelihood of a large number of families, the joint proposal submitted by Agriculture Minister Duminda Silva and State Enterprise Development Minister Kabir Hashim highlighted. The Ministers proposed to import the shortfall. 

Accordingly, 6,000 MT is to be imported for the consumption of the local market, while another 15,000 MT will be imported under a Temporary Importation of Export Processing program for re-exporting.

 The importation can be done under the recommendation of the Agriculture Ministry with a licence issued by the Director General of the Department of Agriculture. 

The value addition of stocks imported for re-exporting should be done at a location within or adjacent to the port identified by the Agriculture Department. Custom authorities have been tasked with ensuring the re-exportation of stocks imported for the purpose of value added re-exportation.