Centre hikes minimum import price of arecanut

The Centre has hiked the minimum import price of arecanut from Rs 251 a kg to Rs 351 a kg to arrest falling prices in the domestic market.

The Directorate General of Foreign Trade (DGFT), Department of Commerce, under the Union Ministry of Commerce and Industry issued a notification to this effect by making an amendment to the import policy.

“The minimum import price imposed on tariff lines under 080280 (that is whole, split, ground and other categories of arecanuts) is revised from Rs 251 a kg to Rs 351 a kg. The import policy of supari under ITC HS (21069030) (betelnut product known as supari) is revised from ‘free’ to ‘prohibited’ and import shall be free if CIF (cost, insurance and freight) value is Rs 351 or above per kg. The given conditions shall not be applicable for imports by 100 per cent export-oriented units and units in the Special Economic Zones subject to the condition that no DTA (domestic tariff area) sale is allowed.”

The hike is likely to help the domestic market maintain stability. Earlier, arecanut growers demanded the government increase the minimum import price to protest domestic growers.

The Union Ministry of Commerce last week informed Parliament that compared to last financial year, import of arecanut increased in this fiscal in India and a total of 61,450-tonne arecanut imported till November end of 2022-23 fiscal.

Union Minister for State for Commerce Anupriya Patel in her reply to BJP Lok Sabha member from Mangalore Nalin Kumar Kateel, said that arecanut imported from Canada, Indonesia, Maldives, Myanmar, Singapore, Sri Lanka, Tanzania, United Arab Emirates, Vietnam and Nepal. However, the Minister said no arecanut imported from Bhutan for the past four years.