With effect from August 1, 2019 the Indian Government has withdrawn all benefits and supports available to exporters of Agricultural products.
The Government has indicated that a new policy will be introduced from 1 January 2020 but has refrained from defining the quantum and criteria for such support.
As a result, offers for Spices from INDIA will spike up sharply between 5 to 7% for shipments after January 1, 2020. At the same time, it is difficult to commit price for shipment until December 31, 2019 given the Indian governments lack of clarity.
We therefore strongly advise you to book your requirements for all INDIAN Spices immediately without delay and ensure shipments before Dec 31, 2019 to prevent being forced to pay higher prices from Jan 2020.