Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Exporters exemption from stock holding welcomed.


Date: 18-01-2014
Subject: Exporters exemption from stock holding welcomed
NEW DELHI: Welcoming exemption of exporters of edible oil and rice from the purview of stock holding limits, the Commerce Ministry today said the decision will help reduce their transaction cost.

"The Commerce and Industry Minister Anand Sharma has welcomed the order issued by Department of Consumer Affairs to exempt stocks of edible oil, edible oilseeds and rice meant for export from the stock holding limit under the Essential Commodities Act," an official statement said.

The commerce ministry said that the exporters have been demanding that they should not be subjected to stock holding limit prescribed under the Act, if they have merchandize stocks of such commodities meant for shipments.

"This will address the long felt need of such exporters and reduce their transaction cost," it said.

In November last year, the Union Cabinet has exempted exporters who have IEC Code issued by the Directorate General of Foreign Trade (DGFT) from stockholding limits imposed under the Essential Commodities Act, 1955.

However, this exemption is limited only to the stocks meant for export and not domestic sale.

The country, which meets 50 per cent of edible oil demand through imports, exports small quantities of groundnut, sunflower and rapeseed oils to cater to expatriate demand.

Foreign shipments of edible oil in branded consumer packs are exempted from the ban.

Domestic production of edible oil is just around 7 million tonnes, against the annual demand of 17-18 million tonnes. The shortages are met via imports.

India is the world's second largest rice producer and one of the biggest exporter.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 19-07-2025
Notification No. 34/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to omit serial number 10A.

Date: 18-07-2025
Notification No. 33/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to provide exemption on import of Horses for Polo (HS 0101 29 10) under specified condition.

Date: 16-07-2025
Notification No. 47/2025-Customs (N.T.)
Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s. Ammega Belting India Pvt. Ltd. -reg

Date: 15-07-2025
Notification No. 46/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 44/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 32/2025-Customs
Seeks to amend Notification No.130/2010- Customs dated 23.12.2010 to extend the exemption benefits to Air Canada.

Date: 13-06-2025
Notification No. 43/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 11-06-2025
Notification No. 42/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001