US tariff impact: Mentha oil industry faces major crisis in UPs Rampur region

RAMPUR (UP), 30 Aug (PTI) Mentha Petroleum Industry, according to exporters, faces a major crisis with several losses of rupees due to the 50 percent tariff applied to the US imports of Indian imports.

He said tariffs threaten the livelihoods of thousands of farmers and workers dependent on the sector.

Mentha oil is an aromatic compound used as raw material to make a wide range of products.

An exporter Amrit Kapoor emphasized the serious effect by stating that the orders were waiting or canceled.

He continued: “50 percent of the US dollar due to a mission of $ 20 suddenly was a product of $ 30. The buyer there, the buyer does not understand how the US $ 30 will buy. So, orders are waiting. Goods are produced in the factory and we do not know when they will go.”

Kapoor emphasized wider results, especially for farmers and workers.

Kapoor, “more than 10 lakh of our brothers and sisters depend on it. They will not get enough money and I think they will not even get back the cost of their production,” he said.

“If America continues this behavior and our production decreases, we may need to reduce the workers in the factories in the coming time.”

Shirish Gupta, the head of the Rampur Department of the Indian Industries Federation, called tariffs “pressure tactic” and expressed his belief in the government’s reaction.

“The government should create plans for industries that are in danger due to tariff problem, so that people should not be closed and people should not be at risk.”

The authority added that he believes that this was a “temporary stage” and hopes that “a positive result will soon come out”.