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Nepal, And Bangladesh Export Areca Nuts To India
By KTM Metro Reporter
August 21, 2012: Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd has sought the government’s restriction on importing areca nuts from Bangladesh and Nepal, obviously for restricting the foreign areca nuts coming to India to compete with its products, according to thehindubusinessline.com.
So, Campco in the name of controlling the quality of areca nuts has been successful to convince the Directorate General of Foreign Trade (DGFT) to increase the import duty on the price of areca nuts set by the DGFT causing the tremendous increase in the imported price of areca nuts.
The actions of DGFT of increasing the import price of areca nuts more than twice the previous price and them collecting 108% import tax on this price have direct adverse impact on the import of the areca nuts causing tremendously high price of areca nuts. The high price of areca nuts hit the consumers very hard while it will bring high profits to Campco, as it does not need to compete with the foreign areca nuts price wise and quality wise, too. The sufferers are consumers. Who cares for consumers in South Asia particularly in India?
http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article3803973.ece?homepage=true&ref=wl_home
