Govt introduces Minimum Import Price for apples in J&K to support local growers

• The Central Government recently introduced the Minimum Import Price (MIP) for apples in Jammu and Kashmir (J&K).

Minimum Import Price (MIP)

• MIP is a temporary measure to provide protection to domestic farmers from predatory pricing of imports. Below this price, import of the commodity is not allowed.
• Directorate General of Foreign Trade (DGFT) is an arm of the commerce ministry which frames rules related to exports and imports.

MIP for Apples

• It aims to protect their interests by preventing tax-free imports of apples from other countries, ensuring a level playing field for the local apple industry.
• According to the policy, any apple costing less than Rs 50 per kg cannot be imported.

Benefits

• It will help stabilize apple prices in the local market by reducing the oversupply of cheap imported apples.
• This stability will enable local farmers to fetch better prices for their produce.

Prelims Take Away

• MSP
• MIP
• FPS