SRAM & MRAM signs MoU to import 500,000 tn of betel nuts from Sri Lanka

Total import volume will be around 500,000 tonnes per annum.India imports betel nuts from Indonesia, Bangladesh and Sri Lanka.

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.

The UK-based group in a statement said that 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 (DGFT).

According to commerce ministry data, betel nuts imports dropped around 92 percent 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 and meeting the growing demand for betel nuts in the country, SRAM and MRAM Group CEO Hemalata Arumugam said in a statement.

By sourcing high-quality betel nuts from Sri Lanka, the partnership aims to deliver premium products to consumers in India, Satkunarajah Kandasamy of Prime Star said.