Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Centre cuts import duty on wheat, edible oil, potato.


Date: 24-09-2016
Subject: Centre cuts import duty on wheat, edible oil, potato
New Delhi, September 23: The Central government on Friday cut the import duty on wheat, edible grade crude and refined palm oils and potato to keep prices in check ahead of the festival season.

The import duty on wheat was cut by 15 percentage points to 10 per cent till the end of February to boost domestic supplies. The government also lowered the import duty on edible grade crude palm oil to 7.5 per cent from 12.5 per cent and that on refined palm oil to 15 per cent from 20 per cent.

The import duty on potato has been slashed to 10 per cent from 30 per cent.

The reduced import duty is likely to allow more wheat to be imported by increasing the viability of the transaction for traders.

The Central government is satisfied that it is necessary in the public interest to make the amendment, a Finance Ministry notification on the reduction in import duties stated.

Although global prices are low, Indian consumers have not been able to take advantage of because of the high import duties.

Following two years of drought, production levels are much below the peak levels in India and stocks have depleted, pushing up prices in the domestic market.

India has already bought about 600,000 tonnes of wheat in 2016, the most in nine years. According to estimates made by traders, imports may rise to 3 million tonnes following the reduction in import duties.

Source : thehindubusinessline.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: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025

Date: 30-04-2025
Notification No. 27/2025-Customs
Seeks to amend Second Schedule to the Customs Tariff Act, to align it with changes made in the First Schedule to the Customs Tariff Act vide Finance Act, 2025.

Date: 30-04-2025
Notification No. 28/2025-Customs
Seeks to amend Notification no. 27/2011-customs dated 1 st March, 2011 and Notification No. 22/2024-Customs, dated 2 nd April, 2024 to align them with the changes made in the Second Schedule to the Customs Tariff Act.

Date: 30-04-2025
Notification No. 33/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 28-04-2025
Notification No. 24/2025-Customs
Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017

Date: 24-04-2025
Notification No.31/2025-Customs (N.T.)
Goods Imported (Conditions of Transshipment) Regulations, 2025

Date: 23-04-2025
Notification No. 28/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 17-04-2025
Notification No. 26/2025 – Customs (N.T.)
Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles



Exim Guru Copyright © 1999-2025 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