Appl. deadline for non-basmati rice exports today

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SME Times News Bureau | 22 Jul, 2011
Reacting to some recent medias reports claiming that too short time was given for making applications and get registration for the recently allowed export of one million tonnes of non-basmati rice through private trade, the Director General of Foreign Trade (DGFT) Thursday made it clear that there was one clear day as gap between the issue of notification and sending applications.

"Notification was issued on 19th (Tuesday) and e-mails (for application) were to be sent on July 21 (Thursday) and July 22 (Friday). Thus there is at least one clear day as gap between the issue of notification and sending of e-mail," DGFT said in a press release.

It added that the notification gives a simple format for sending application by e-mail. "It is important to note that while sending the e-mail, no documents are required. Simple information like IEC number, address/phone/e-mail/fax number of the applicant and quantity he intends to export are needed," it said.

"It does not require either a Letter of Credit or a Bank Guarantee or even details of foreign buyer. These details are required at the time of obtaining Registration Certificate after the allocation is made," the release said.

In terms of registration, DGFT made it clear that registration will start from 28.7.2011 and go up to 18.8.2011. Three months time is given to make exports, up to 18.11.2011.

Also, the minimum Export Price of US $ 400 is only a floor price; there is no restriction from exporting rice at a higher rate, as agreed between the importer and exporter, DGFT said.

The Empowered Group of Ministers on food, headed by Finance Minister Pranab Mukherjee, had on July 11 decided to lift the over three-year old ban on non-basmati rice. The ban was imposed in April 2008 to check inflation.