India and New Zealand sign free trade agreement for apple imports

India and New Zealand have signed a free trade agreement (FTA) aimed at improving market access for New Zealand apples. A key component of the deal is the reduction of import tariffs from 50% to 25% for qualifying apples, subject to a specific quota.

The initial quota is set at 32,500 tons, which is scheduled to increase gradually to 45,000 tons by the sixth year of the agreement. The deal also establishes a minimum import price of €1.13 per kilogram, covering freight and insurance costs to the destination port.

Sarfraz Potia, director of Venus Export Import Limited, noted that India represents the highest growth potential for New Zealand apple exports in Asia, alongside markets like China, Taiwan, and Vietnam. The company aims to facilitate direct relationships between New Zealand growers and Indian buyers to overcome historical reliance on intermediaries and build market trust.