UK Co to import 5LT of betel nuts from Lanka
The group has signed an agreement with Sri Lanka-based trading firm Prime Star Pvt Ltd for the import of betel nuts.
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NEW DELHI: UK-based diversified company SRAM and MRAM Group on Friday announced signing an agreement to import 500,000 tonnes of betel nuts from Sri Lanka.
The group has signed an agreement with Sri Lanka-based trading firm Prime Star Pvt Ltd for the import of betel nuts.
In a statement it said Prime Star has facilities with a minimum processing capacity of 25,000 tonnes per month located in trade-free zones. The total import volume will be around 500,000 tonnes per annum.
India imports betel nuts from Indonesia, Bangladesh, and Sri Lanka. Betel nuts hold cultural significance and are widely used in various traditional practices and ceremonies in India. To ensure quality, the government has placed betel nut imports under the prohibited category. No import of betel nut (supari) is allowed below Rs 351 per kg, according to the Directorate General of Foreign Trade. As per commerce ministry data, betel nuts imports dropped around 92 per cent in April-December 2023 to Rs 4.04 crore from Rs 53.71 crore in the year-ago period. The MOU is a key step towards enhancing the group’s footprint in India, SRAM-MRAM Group CEO Hemalata Arumugam said.