INDIA BUSINESS WORLD - March 16^th - March 31^st - 2008

EDIBLE OIL EXPORT PROHIBITED

The Government has with immediate effect prohibited export of all edible oils. Notification No. 85 dated 17.3.2008 has been issued in this regard. It may be recalled that before the ban imposed by the above Notification, export of edible oils was free. But with the Notification No. 85 dated 17.3.2008 export of all edible oils has been prohibited with immediate effect. The ban imposed by Notification No. 85 dated 17.3.2008 will be applicable for a period of one (1) year from the date of Notification No. 85 dated 17.3.2008. Also, transitional arrangements allowed under Para 1.5 of Foreign Trade Policy, 2004-2009, shall not be applicable to the ban imposed vide Notification No. 85 dated 17.3.2008.

Vide Notification No. 84 dated 17.3.2008, export of Basmati rice has also been allowed through the ports of Mundra and Pipavav in addition to ports notified earlier. Vide Notification No. 82 dated 5.3.2008, the Central Government had notified that export of both basmati and non-basmati will be allowed through the four (4) ports of Kandla, Kakinada, Kolkata and JNPT Mumbai only. Now the Government vide Notification No. 84 dated 17.3.2008 has allowed export of basmati rice through the ports of Mundra and Pipavav also. It may be clarified that export of Non-Basmati rice will not be allowed through the ports of Mundra and Pipavav.

Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry New Delhi, dated 18th March, 2008