Mumbai, 26 Jun (Commoditiescontrol): In a significant move to streamline trade procedures and enhance the efficiency of imports, the Directorate General of Foreign Trade (DGFT) has announced amendments to the Tariff Rate Quota (TRQ) scheme for crude sunflower seed oil, rapeseed oil, and their fractions.
The updated TRQ scheme will adhere to the provisions outlined in Customs Notification No. 28/2020-Customs, dated June 23, 2020, which may be amended periodically. The amendments introduce changes to the import procedures and revise the eligibility criteria for quota allocation, simplifying the process for a broader range of importers.
Under the revised scheme, the total allowable import quantity is set at 150,000 metric tons for crude sunflower seed oil and its fractions, and an additional 150,000 metric tons for crude rapeseed/Canola oil and its fractions.
The DGFT has outlined specific eligibility criteria for entities seeking to apply for the TRQ. Eligible entities include NAFED, CWC,State cooperative marketing fedratioan and State cooperative civil supplies corportation.
For more details on the amendments, importers and stakeholders are encouraged to refer to Public Notice No. 13/2024-25 issued by the DGFT.
(By Commoditiescontrol Bureau; +91-9820130172)
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