Centre has decided to import potatoes to control price rise.

The central government has allowed the import of 10 lakh tonnes of potatoes on October 29, 2020 in order to control the rising prices. The Directorate General of Foreign Trade (DGFT) notified about this decision.

Highlights

  • The Union Minister of Consumer Affairs Piyush Goyal further informed that the centre is taking several steps to moderate the rising potato prices.
  • India will now import fresh and chilled potatoes from Bhutan without license. The norm of importing potatoes license will be valid up to January 31, 2021. Earlier, the imports of potatoes were restricted.
  • Import duty on potato has also been reduced by the centre to 10% from 30%.
  • The procedure for import of potatoes has also been eased till January 31, 2021 by the DGFT. This has been done by cancelling the need to send hard copies of application through mail or post.
  • When the applicants are accepted, they will require to ensure that the import consignments reach the Indian ports on or before January 31, 2021. There will be no request for an extension of time.
  • Apart from that, centre has also decided to import 25,000 tonnes of onions before Diwali in addition to the 7,000 tonnes of onions that NAFED has already procured through private importers.

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED)

It is an apex organization of marketing cooperatives for agricultural produce. NAFED was founded on October 2, 1958 in order to promote the trade of agricultural produce and forest resources in India. It has been registered under Multi State Co-operative Societies Act. It is one of the largest procurement and marketing agencies for agricultural products. It has been headquartered in New Delhi. It has four regional offices at Delhi, Mumbai, Chennai and Kolkata and  28 zonal offices. NAFED is the nodal agency that implement price stabilization measures under the Operation Greens.