India clears 500,000 T of corn import at a fairly reduced duty to boost poultry sector

Published 2020년 6월 24일

Tridge summary

India's corn imports surged significantly from 30,962 tonnes to 312,289 tonnes between 2018 and 2019, promoting a reduction in import taxes due to increased demand from the poultry and starch sectors, as per government data. The country, being the seventh-largest corn producer, imposes a 60% tariff on corn imports and has stringent regulations against genetically modified organisms in imported grains. Furthermore, India has approved the import of 10,000 tons of milk and cream powder at a reduced 15% import duty, and standards for 150,000 tons each of rapeseed and sunflower oil with import duties of 45% and 50%, respectively. As the world's largest importer of edible oils, India imports rapeseed and sunflower oil mainly from Canada, Ukraine, and Russia.

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Original content

India’s corn imports had jumped from 30,962 tonnes to 312,289 tonnes from 2018 to 2019 revealed the government data. India normally imposes 60% on corn imports and it is the seventh-largest producer of corn in the world. The corn imports under the tariff rate quota(TRQ) were taken into consideration end-purchasers in the poultry and starch supply sectors, the government administration said in a notice. India had been a major importer of corn to Southeast Asia for a few years until the output began to fall and India started to import corn instead of producing it. As the demand for the same has been increasing for the past few years from domestic poultry producers and corn starch manufacturers it becomes imperative in such conditions to lower the import taxes. India has strict rules to make sure there is no evidence of genetically modified organisms in imported grains and it itself also does not permit any usage or cultivation of any genetically modified crop. New Delhi likewise ...

Source: UkrAgroConsult