Govt cuts import duty on sunflower seeds to 10%
The Dollar Business Bureau The Government has announced a cut in the import duty on sunflower seeds to 10% from 30%. The Department of Revenue, Ministry of Finance, has issued a notification (No.9/2017 - Customs) on Thursday, amending the earlier notification No.12/2012-Customs, dated March 17, 2012. It has fixed the import duty on sunflower seeds at 10% and shall come into effect from April 1, 2017 “Amendment to Notification No.12/2012-Customs, so as to reduce the basic Customs duty from 30% to 10% on sunflower seeds falling under tariff item 1206 00 90 (i.e. other than of seed quality) for the purpose of extraction and refining of oil subject to actual user condition, for the period from April 1, 2017 to ...
India, Bangladesh agree to promote seeds exchange
The Dollar Business Bureau India and Bangladesh entered into an agreement to initiate the cross-border trade in High-Yielding Varieties (HYV) of rice seeds. A Memorandum of Understanding to this effect was signed between the Seed associations of the two countries, in New Delhi. While a protocol on the HYV of rice seeds has been signed already between the two countries, also involving Nepal, the latest MoU creates a way for formalization of the same between India and Bangladesh. Although there is no formal trade involving the HYV rice seeds currently between the two countries, there exists higher movement of the same (low-value and high-volume trade) through the informal channels, which may possibly create concerns over food security in the two regions, ...
