Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. Govt should stop issuing further licence for import of palmolien: SEA >
  5. Govt should stop issuing further licence for import of palmolien: SEA

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Govt should stop issuing further licence for import of palmolien: SEA.


Date: 26-02-2020
Subject: Govt should stop issuing further licence for import of palmolien: SEA
Edible oil industry on Tuesday urged the government to stop issuing further licences for the import of palmolien, warning that it would further depress local prices ahead of the arrival of massive mustard seed crop. In a representation to the Commerce Ministry, Solvent Extractors Association of India (SEA) President Atul Chaturvedi noted that the government banned import of RBD Palmolein a month back to check excessive imports but media reports said that the Directorate General of Foreign Trade (DGFT) has issued licences for the import of 11 lakh tonnes of palmolien.

"We are dismayed at this action which has the potential of destroying palm refining industry in the country. This is contrary to our PM's vision of Make in India," he added.

The industry appealed to the Commerce Ministry to stop issuing further licences to safeguard the interest of domestic vegetable oil refining industry and mustard farmers.

Chaturvedia further said that there is no shortage of RBD Palmolein or edible oils in the country and also edible oil prices in international as well as domestic markets are showing downward trend in the last one-and-a-half months.

Auto slowdown: Daimler’s CV sales slip 36% in 2019, sees worst market share in 5 years
With a massive mustard crop ready for harvesting, import of palmolien will have a great dampening effect on prices of domestic oilseeds and oils, he said

He also expressed concern that it may result in mustard selling below minimum support price (MSP) and once again government's nodal agency NAFED getting saddled with huge stocks.

According to the SEA, Indonesia has great advantage to push RBD Palmoelin to India as it is cheaper than crude palm oil (CPO), at present, with higher levy on CPO at USD 50 per tonne and lower duty on RBD Palmoelin at USD 30 per tonne.

Further, India's duty difference between CPO and RBD Palmolein being only 7.5 per cent will open the flood gates for import of RBD Palmolein which was seen during last year from January to September 2019 when the duty difference was just 5 per cent for import from Malaysia, it said.

"This will also have serious impact on domestic refining industry and capacity utilizations will go down," SEA said.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 25-08-2020



Date: 09-07-2020
Notification No. 18/2020-Customs (ADD)
Seeks to extend anti-dumping duty on import of Phenol originating in or exported from South Africa, imposed vide Notification No. 32/2015-Customs(ADD) dated 10.07.2015, up to and inclusive of 9th January, 2021.

Date: 08-07-2020
Notification No. 17/2020-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of ' Steel and Fibre Glass Measuring tapes and their parts and components ',originating in, or exported from, People's Republic of China for a period of five years, in pursuance of final findings of sunset review investigations issued by DGTR

Date: 06-07-2020
Notification No. 29/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017.

Date: 02-07-2020
Notification No. 55/2020 - Customs (N.T.)
Exchange Rates Notification No.55/2020-Custom (NT) dated 02.07.2020.

Date: 01-07-2020
Notification No. 58/2020 – Central Tax
Seeks to make eighth amendment (2020) to CGST Rules

Date: 30-06-2020
Notification No. 54/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 30-06-2020
Circular No.31/2020-Customs
Extension of validity of AEO certification for ease of renewal process (Modification in Circular No. 27/2020 dated 02.06.2020) [Circular No. 31/2020 - Customs dated 30.06.2020].

Date: 30-06-2020
Notification No. 57/2020 – Central Tax
Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.

Date: 30-06-2020
PUBLIC NOTICE No. 11/2015-2020
Extension of validity of Recognition of Pre-shipment Inspection Agencies (PSIAs



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001