Feb 2, 2023India proposes 70% tariff reduction on U.S. pecan imports
The India Ministry of Finance has released their proposed 2023 Union Budget and updates to custom duties. Included is a 70% reduction in the import tariff for pecans, from 100% to 30%. This is a significant positive change for the pecan industry that opens the U.S. pecan export market to India. According to recent studies, the industry could see an increase from $1 million in trade sales to $50- $60 million by 2030.
Reducing the import tariff on pecans in India has been a long-time trade priority for the National Pecan Federation (NPF).
“This is great news for the pecan industry. NPF has worked hard over the last few years on reducing this tariff to open the U.S. pecan export market to India. Pecans are grown in 15 states and have a significant impact on these rural economies. Opening the India market will be a great opportunity for our industry to expand and grow,” said Larry Don Womack, chairman of the National Pecan Federation.
Last month, NPF Executive Board Member Marianne Brown attended a roundtable discussion hosted by U.S. Sen. Jon Ossoff (D-GA) with U.S. Trade Rep. (USTR) Ambassador Katherine Tai and USTR Agriculture Ambassador Doug McKalip. At the meeting, Brown was given the opportunity to voice the pecan industry’s concerns and priorities as they relate to global markets and most importantly India.
NPF Executive Board Member Jeff Worn commented, “Expansion of the U.S. pecan export market to India is essential to the health of the pecan industry. Over the last few years, NPF has worked with Sen. Ossoff and other members of Congress on this issue with USTR and the U.S. Department of Agriculture to advocate for lower tariffs to India. We are pleased with this outcome and believe the reduction in the tariff will be beneficial to the U.S. pecan industry.”
NPF was established in 2018 by pecan growers and shellers to unite the pecan industry and advocate with one voice in Washington, D.C.