FTP - Import Policy of Areca Nut - CIF Value Increased
THE import policy for areca nuts falling under exim code 0802 80 10, 0802 80 20, 0802 80 30 and 0802 80 90, is free subject to a policy condition that the CIF value is Rs. 110/- and above per Kilogram.
This is now increased to Rs. 162/-.
The Government has received representations from various stakeholders of Areca nuts industry against unabated import of Areca nuts from neighbouring countries taking advantage of low import duty provided under SAFTA. It has, therefore, been decided to increase the Minimum Import Price (MIP) on import of Areca nuts from existing Rs. 110/- per kg. toRs.162/- per kg.
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 is not imported through our neighbouring countries taking advantage of low import duty under SAFTA.
Government says that the increase in the existing MIP on import of Areca nuts will be in the interest of the domestic farmers.
DGFT Notification No.10/2015-2020, Dated: June 08, 2015