Kochi: With the Center increasing the minimum import price (MIP) of saffron by Rs 100, the domestic price has also risen. The MIP has been increased from Rs 251 to Rs 351 per kg. With 108 per cent import duty along with MIP, the imported goods will have to pay a high price.
All India Areca Growers Association stated that this will also help to increase the remunerative price of domestically produced areca. The new price is now Rs 370 per kg. It is expected to cross Rs 400 soon. The closing price is also expected to come down to Rs 475-485 from the old closing price of Rs 455.
Great love for imports
The Center has increased the minimum import price to provide relief to the domestic farmers in the background of high imports. Imports increased by 136.35 percent to 61,452.21 tonnes during April-November of the current year. In 2021-22, the total import was 25,978.98 tonnes. Import value increased from $90.18 million to $217.8 million.
