Good for Pepper Growers:Govt prohibits imports below MIP
The Centre on Wednesday took action to move import of pepper and its derivatives from “Free” to “Prohibited” to demands raised by pepper growers.
According to a notification issued by the Directorate General of Foreign Trade, under the Commerce Ministry, moved import of pepper and its derivatives from “Free” to “Prohibited” if the import price is ₹500 or less per kg.
Pepper growers complained to govt that importers have been exploiting a loophole in December 6 notification. Importers were able to get their consignments cleared by paying a small fine on invoiced value.Now that it has now been moved to the “prohibited” list, the Customs will be able to take a stricter action.
Source: BusinessLine
Yes, it was absolutely necessary to protect Indian Pepper industry & growers.