Trade Notice No. 2/2020-21 Dated. 13th April 2020
Issued By. DGFT
“Central Government vide Notification No. 39/2015-2020 dated 8th January 2020 amended the Import Policy of refined palm oil under Exim code 151190 from 'Free' to 'Restricted'.
Import of refined palm oil under the above mentioned Exim code will be permitted subject to the following conditions:
- The applications for import authorization should be accompanied by a pre-purchase agreement and details of the import of the above items for the past three years.
- The validity period of import licenses/authorizations for refined palm oil will be 6 months in place of the usual 18 months.
- Total non-utilization of import authorization by the applicant will lead to the disqualification of the importer from getting any further license for these items in the future.
- Customs will be required to diligently enforce the Rules of Origin criteria for the import of these items originating from Nepal and Bangladesh.
This issues with the approval of Competent Authority.”