INDIAN spice traders and Spices Board officials are becoming increasingly concerned that stubbornly high domestic prices might prompt higher volumes of spices to be imported into India over the next few months. This fear comes in spite of the fact that the country's total spice imports over the first eight months of the 2007/08 season did not exceed those of the same period of 2006/07. Some traders said they are also apprehensive about under-invoicing on spice imports. There were instances of importers bringing in poppyseeds at Rs59,100 ($1,500) a tonne from Turkey when the actual prices prevailing there were $5,250 a tonne. By showing lower prices, importers pay lower duties. To tackle instances of duty evasion, the office of the director-general of foreign trade then fixed a price of $5,398 a tonne for poppyseeds in December. Indian traders are expecting a similar move in cardamom, ginger and cloves... Read More