Latest news with #NutsandDryFruitsCouncilofIndia
Time of India
a day ago
- Business
- Time of India
India-US trade deal: Why Indian importers are delaying customs clearance of American dry fruit; ‘opting to pay penalty because…'
India levies a 100% duty on US walnuts, both shelled and unshelled, alongside specific duties of ₹35 per kilogram on almonds in shell and ₹100/kg on almond kernels. (AI image) India-US trade deal talks impact: Even as India and the US look to finalise a trade deal ahead of US President Donald Trump's tariff deadline, the possibility of an agreement has led to delays in clearance for American dry fruits. According to an ET report, in anticipation of a drastic cut in import duties, importers of dry fruits in India are delaying customs clearances. Dry fruit importers are delaying customs clearance of walnuts, almonds and other nuts from the US due to ambiguity surrounding the proposed India-US trade agreement. Why Are US Dry Fruits Facing Delayed Customs Clearance? India levies a 100% duty on US walnuts, both shelled and unshelled, alongside specific duties of ₹35 per kilogram on almonds in shell and ₹100/kg on almond kernels. This taxation structure is frequently spoken of by Trump to substantiate his claim that India has a high tariff regime. Indian importers of dry fruit expect a significant reduction of approximately 50% in import duties as part of the India-US trade deal. Industry insiders told the financial daily that importers are looking to prevent potential financial losses that could occur if duty rates decrease after they have cleared goods at current tariffs. However, this cautious approach might lead to further supply chain disruptions. Also Read | 'Very fast pace….': India-US trade deal talks pick momentum ahead of Trump's deadline; Piyush Goyal shares important update "Two commodities that are likely to see duty reduction in the proposed US-India trade deal are walnuts and almonds," said Ravindra Mehta, founding member at Nuts and Dry Fruits Council of India, or NDFC(I) according to the report. "Many importers are postponing filing the bill of entry by a few days and opting to pay the penalty for delayed clearance, which is much smaller than the losses they may face in case the duties are reduced," he said. The dry fruit market is already experiencing supply constraints due to the suspension of Afghan imports, following the closure of the Wagah border after Operation Sindoor strikes targeting terror facilities in Pakistan and Pakistan-occupied Kashmir. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
2 days ago
- Business
- Time of India
Importers delay customs clearance of US dry fruit
Indian dry fruit importers are delaying customs clearance for US nuts. They anticipate a significant reduction in import duties due to a potential India-US trade agreement. This hesitation could worsen existing supply disruptions caused by halted Afghan imports. The industry expects India to halve duties on walnuts and almonds. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Uncertainty over the proposed India-US trade deal has resulted in dry fruit importers holding back customs clearance of walnut, almond and other nut shipments from the US, anticipating a steep cut of about 50% in import are looking to avoid losses they could incur if duties are reduced after they clear goods at current rates, but their move could worsen supply disruptions, industry insiders fruit supplies had already been hit by the halt in Afghan imports due to the closure of the Wagah border since the Operation Sindoor strikes on terror infrastructure in Pakistan and Pakistan-occupied imposes a 100% tariff on US walnuts - both kernels and those in shells - and a specific duty of ₹35 per kilogram on almonds in shell and ₹100/kg on almond kernels. US President Donald Trump often cites this to support his claim that India is a high tariff industry expects India to halve these duties as part of the deal being negotiated."Two commodities that are likely to see duty reduction in the proposed US-India trade deal are walnuts and almonds," said Ravindra Mehta, founding member at Nuts and Dry Fruits Council of India, or NDFC(I)."Many importers are postponing filing the bill of entry by a few days and opting to pay the penalty for delayed clearance, which is much smaller than the losses they may face in case the duties are reduced," he said.
Time of India
28-04-2025
- Business
- Time of India
Closure of Attari border hits Afghan dry fruits supplies
Pistachio prices have increased nearly 20 per cent since India closed the Attari-Wagah border after the April 22 terrorist attack near Pahalgam in Kashmir. Along with pistachio, India imports nearly 90 per cent of dried figs and heeng it consumes, 50 per cent of saffron, dried apricots and munakka from Afghanistan via the land route through Pakistan. Imports via Iran, the other important route, are difficult as many banks refuse to process payment from Iran. The closure of the Attari-Wagah border will lead to a decline in imports of Afghan nuts, dry fruits and spices in the coming months and result in 15-20 per cent increase in prices, said importers. "The prices of pistachio kernels have shot up by Rs 400 per kg to about Rs 2,600-2,700 per kg. They may increase further in the coming weeks," said Ravindra Mehta, founding director, the Nuts and Dry Fruits Council of India (NDFCI) . "The pistachio used in ice creams comes from the US and Iran, while the one used in Indian sweets like barfi comes from Afghanistan due to its unique taste and aroma." The supplies of Afghan dry fruits are likely to be severely impacted in the coming months. "Afghanistan's trade with India, valued at $500 per annum, will be severely affected. Most of Afghanistan's dry fruits are exported to India via Wagah border. Its closure will disrupt the supply chain," said Gunjan Jain, president, NDFCI. Prices of almost all nuts and dry fruits are expected to go up. "We will see a very tight supply chain situation resulting in unprecedented rise in prices of anjeer, munakka and other Afghan origin products," said Jain. Munakka refers to special types of raisins used in biryanis and some other delicacies. Jain said, "Raisin prices have already increased due to lower production in India. With the fall in import of munakka, raisin prices will go up further." Prices of Indian raisins have increased 35 per cent over the past year as the 2024-25 raisin production is low due to adverse weather and more consumption of fresh grapes during Ramadan left less for converting them into raisins. It comes at a time when globally there is an unprecedented increase in prices of pistachios, cashews and walnuts, said importers. Almond prices have shot up 40 per cent since June last year owing to a decline in the crop in California and Australia. Pistachio prices are up 20 per cent during this period, a fallout of decreased crop in Iran and California. Afghan traders may have to explore alternative routes like the Chabahar port of Iran, which comes with its own set of challenges including logistics and infrastructure, said traders and experts. "I have not seen such a situation during my lifetime," said Kanwarjit Bajaj, president, Indo-Afghan Chamber of Commerce . AIR ROUTE The Afghan Chamber of Commerce and Investment held a meeting with Com Air and Ariana Airlines to explore the possibilities of opening the air route from Kabul to India for exporting dry fruits. The chamber has also initiated talks with the Chabahar port.
Time of India
27-04-2025
- Business
- Time of India
Closure of Attari border hits Afghan dry fruits supplies
Pune: Pistachio prices have increased nearly 20% since India closed the Attari-Wagah border after the April 22 terrorist attack near Pahalgam in Kashmir. Along with pistachio, India imports nearly 90% of dried figs and heeng it consumes, 50% of saffron, dried apricots and munakka from Afghanistan via the land route through Pakistan. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Imports via Iran, the other important route, are difficult as many banks refuse to process payment from Iran. The closure of the Attari-Wagah border will lead to a decline in imports of Afghan nuts, dry fruits and spices in the coming months and result in 15-20% increase in prices, said importers. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Salaried Employees In TELANGANA Get ₹2 Crore Life Cover at Just ₹876/Month Best Term Insurance! Click Here Undo "The prices of pistachio kernels have shot up by ₹400 per kg to about ₹2,600-2,700 per kg. They may increase further in the coming weeks," said Ravindra Mehta, founding director, the Nuts and Dry Fruits Council of India (NDFCI). "The pistachio used in ice creams comes from the US and Iran, while the one used in Indian sweets like barfi comes from Afghanistan due to its unique taste and aroma." Agencies Live Events The supplies of Afghan dry fruits are likely to be severely impacted in the coming months. "Afghanistan's trade with India, valued at $500 per annum, will be severely affected. Most of Afghanistan's dry fruits are exported to India via Wagah border. Its closure will disrupt the supply chain," said Gunjan Jain, president, NDFCI. Prices of almost all nuts and dry fruits are expected to go up. "We will see a very tight supply chain situation resulting in unprecedented rise in prices of anjeer, munakka and other Afghan origin products," said Jain. Munakka refers to special types of raisins used in biryanis and some other delicacies. Jain said, "Raisin prices have already increased due to lower production in India. With the fall in import of munakka, raisin prices will go up further." Prices of Indian raisins have increased 35% over the past year as the 2024-25 raisin production is low due to adverse weather and more consumption of fresh grapes during Ramadan left less for converting them into raisins. It comes at a time when globally there is an unprecedented increase in prices of pistachios, cashews and walnuts, said importers. Almond prices have shot up 40% since June last year owing to a decline in the crop in California and Australia. Pistachio prices are up 20% during this period, a fallout of decreased crop in Iran and California. Afghan traders may have to explore alternative routes like the Chabahar port of Iran, which comes with its own set of challenges including logistics and infrastructure, said traders and experts. "I have not seen such a situation during my lifetime," said Kanwarjit Bajaj, president, Indo-Afghan Chamber of Commerce . AIR ROUTE The Afghan Chamber of Commerce and Investment held a meeting with Com Air and Ariana Airlines to explore the possibilities of opening the air route from Kabul to India for exporting dry fruits. The chamber has also initiated talks with the Chabahar port.
