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Market News
India to lift 20% retaliatory duty on Washington apples.
Jul 19, 2023
Indians can again gorge on Washington apples, as the retaliatory tariff of 20% imposed by the Indian government on this red, juicy variety of the fruit four year ago during the Trump era is set to go by the end of September.
Washington apples currently attract an import duty of 70%, compared with 50% on apples imported from Iran and Turkey. The higher duty, and the resultant increase in the price, had resulted in steep fall in its imports. Meanwhile, the possibility of Washington apples flooding the market has irked domestic apple growers.
'The government on June 22 had indicated to do away with the 20% retaliatory import duty that was imposed during the Donald Trump regime, and it will become effective within 90 days,' said Sumit Saran, the India representative of the Washington Apple Commission. 'Washington apple growers have already started cultivating more apples for the Indian market.'
Before the imposition of the tariff, India used to import 7 million boxes, each weighing 22 kgs, of Washington apples.
Washington apples are imported between September and February, when the Indian crop comes to an end, he added.
Meanwhile, apple growers in the Kashmir valley fear that the reduction in import duty will have significant repercussions. 'Such a development would result in limited opportunities for the domestic production of apples,' said Gulam Ahmad, an apple grower from the valley.
economictimes.indiatimes.com
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