ANNOUNCED AS TEMPORARYNo
On 5 February 2018, through Notification No. 50/2015-2020 the Indian Ministry of Commerce and Industry exempted imports of light black pepper from the applicability of a Minimum Import Price of INR 500 per kg. (~ USD 7.81)* provided such pepper is imported under the Advance Authorisation Scheme for extraction of oleoresin for re-export purpose.
These imports also have to meet certain additional requirements, to avail the exemption, such as minimum piperine content, evaluation of piperine content and oleoresin yield through evaluation labs and monthly submission of relevant data regarding imports and utilization to the Spices Board.
The Advance Authorisation Scheme allows duty-free imports of raw materials to be physically incorporated in the manufacture of export goods.
* INR to USD conversion as on 5 February 2018 - INR 64.06 / USD
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