The government has decided to increase the Minimum Import Price, MIP on import of Areca nuts from existing Rs 110 per kilogram to Rs 162 with immediate effect. The decision has been taken on account of unabetted import of Areca nut from neighboring countries originating from countries such as Indonesia and Myanmar taking the advantage of low import duty provided under South Asian Free Trade Area, SAFTA and consequent representations from various stakeholders.According to a official release, the Food Safety and Standards Authority of India, FSSAI has also advised its field offices to stringently adhere to the quality specifications of Areca nut before clearing the import consignments.This has been done with a view to prevent inferior quality Areca nut from entering Indian market and destabilise the domestic prices.Ministry of Commerce and Industry has said that the Customs Authorities have been advised to check the rules of origin with utmost care so as to ensure that Areca nut grown in other countries are not imported through the neighbouring countries taking advantage of low import duty under SAFTA.The release said, the increase in the existing MIP on import of Areca nuts will be in the interest of the domestic farmers.
News On AIR | June 3, 2015 1:50 PM
Govt hikes minimum import price on areca nuts to Rs 162/kg