A method for manufacturing a cutting insert green body having undercuts includes providing a die cavity formed in closed top and bottom dies; closing a bottom of the die cavity by a bottom punch accommodated in a punch tunnel formed in the bottom die; filling the die cavity with a pre-determined amount of sinterable powder; moving a top punch towards the die cavity through a punch tunnel formed in the top die; compacting the powder by urging the top and bottom punches towards each other, thereby forming the green body; and moving the top die and punch away from the bottom die and punch, thereby enabling removal of the formed green body. An apparatus for manufacturing a cutting insert green body having undercuts includes top and bottom dies which abut each other and top and bottom punches which slide in their respective dies.