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Customs reduces clearance time for edible oil consignments at ports
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SME Times News Bureau | 14 Jul, 2021
With shortage of domestic edible oil pushing up the need to increase
imports quickly, the Indian Customs has put up special motoring and
import clearances procedure for the commodity to reduce the clearance
time for such consignments to about 3-4 days.
The Customs Department, in a statement, said that they were ensuring that there is no clogging at the ports for edible oil.
To
facilitate trade and expedite the clearances, nodal officers have also
been nominated in all the Customs zones and a standard operating
procedure has also been put in place for smooth clearance. Customs is
also engaging with the industry associations regularly, the statement
said.
Moreover, Customs is continuously monitoring the import
clearances of edible oils in co-ordination with the Food Safety and
Standards Authority of India (FSSAI).
As a result of the measures
taken by the Customs, edible oil imports in the country had seen a
sudden increase. In the current month up to July 12, a whopping 4 lakh
tonne of crude palm oil has been imported, more than 35 per cent growth
over the same period of previous year. The import has grown by over 5
per cent in the current fiscal year so far.
The import/export
policy relating to edible oils, its volumes of clearances and pendency
situation at ports, etc are reviewed on weekly basis by the
Inter-ministerial Committee on prices of Agricultural Commodities. These
aspects are also reviewed regularly by the Committee of Secretaries and
the Group of Ministers, a Finance Ministry release said.
The
Department of Consumer Affairs and the Department of Food continuously
monitor the retail selling prices of edible oil for assessing the need
for intervention.
Tariff and other policy interventions are normally made on the recommendations of these Committees/Group.
To
provide relief to the consumers, certain measures have been taken
recently in respect of edible oil. These include reduction of customs
duty on edible crude palm oil from 35.75 per cent to 30.25 per cent and
on refined palm oil from 49.5 per cent to 41.25 per cent. Further,
restriction on import of refined palm oil has also been lifted till
December 31.
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