India Makes Changes to Crude Soya Bean Oil, Crude Sunflower Oil
India's Directorate General of Foreign Trade made changes affecting traders seeking to secure tariff-free trading of crude soya bean oil and crude sunflower oil for fiscal years 2022-23 and 2023-24 under India's tariff-rate quotas. Interested parties must now submit details…
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of turnover for processing of crude edible oils in the last three financial years. Further, imports made under the TRQs are for domestic processing and consumption only, the DGFT said. The 2022-23 TRQs will be valid for clearance of import for a one-year period or until June 30, 2023, whichever is earlier. The 2023-24 TRQ will be valid until March 31, 2024. Unused quantities will be deducted from their proposed allocations during the next TRQ period. The TRQs are for 20 Lakh MT of crude soya bean oil and 20 Lakh MTs of crude sunflower oil.